The Gateway to Financial Future: Analysis of the Level of Literacy and Enthusiasm of the Community towards Education Insurance in Indonesia

Abstract

Education plays an important role in forming character, skills and knowledge to achieve success in the future. However, people are often faced with the challenge of increasingly expensive education costs. One solution is an education insurance product. The success of this implementation depends on the level of literacy and enthusiasm of the community. Objective: To analyze the level of literacy and enthusiasm of the public towards education insurance in Indonesia and evaluate the potential relationship between the two variables. This research used a survey method by distributing questionnaires to 32 respondents which included questions related to literacy level and enthusiasm for education insurance. Correlation analysis is used to evaluate the relationship between literacy level and community enthusiasm. Hypothesis testing with t-count provides a statistical view of its significance. The results of the analysis show that there is a significant negative relationship between literacy level and people's enthusiasm for education insurance (r = -0.388, t = -2.305). This means that the higher the literacy level, the lower the public's enthusiasm for education insurance products. This research identifies a significant negative relationship between literacy levels and public enthusiasm for education insurance in Indonesia. Higher literacy correlates with lower enthusiasm for educational insurance products. It is hoped that this research can help increase the effectiveness of literacy programs and marketing of educational insurance products to achieve wider financial inclusion.