Consumers’ Acceptance Intentions Towards Family Takaful in Malaysia: A Focus on the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2)

Takaful is a significant and growing sector of the financial services sector. For the family takaful market segment to grow faster, it is essential to comprehend the elements that affect consumers’ purchase decisions. Consumers’ accepting intention toward family takaful is one element that research has not yet sufficiently addressed. By extending a model from the Unified Theory of Acceptance and Use of Technology (UTAUT2), this study suggested and evaluated a model of the elements influencing family takaful purchase behavior. The results demonstrate that performance expectations, effort expectations, hedonic motivation, and pricing value are all influenced by customers’ conduct and their intention to engage in family takaful. On the other hand, social influence has no impact on a person’s decision to take part in family takaful. Understanding the characteristics that affect customers’ acceptance of family takaful, takaful operators, takaful agents, and the government, as well as other financial services platform developers, can benefit from the study’s findings.