A Systematic Literature Review and Meta-Analysis of Medical Health Insurance and Takaful: Evidence from Malaysia

Abstract

Medical and health takaful is the protection given to cover the cost of private medical treatment including the hospitalization, surgery, and treatment, diagnosed with certain illnesses or are involved in an accident. The purpose of this research is to identify and determine the demand for Medical Health Insurance and Takaful in Malaysia. Researchers want to identify the factors that Effect Medical Health Insurance and Takaful demand in Malaysia. The researcher wants to find what Effect Medical Health Insurance and Takaful among the public. In this research, the researcher used 55 articles from the year 2007 until 2017 that related to the effect of Medical Health Insurance and Takaful using Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) approach. 84% of the articles used a quantitative method where the rest using the qualitative method to collect the data. The researcher found that 14 of the article were stating about the factor that Effects the Medical Health Insurance and Takaful demand. The expected finding was classified into percentage based on the result of the article where a demographic factor is 42%, education factor 21% and price (income) factor 37%. To improve the research findings, this study uses random-effect model to provide the forest plot result and it was found the demographic (gender and age), education and price are highly significant associated with the Medical Health Insurance and Takaful. Therefore, it is essential to increase the public awareness about the importance of having Medical Health Insurance and Takaful.