The Dynamics of Sharia Financial Product Utilization and Literacy in Shaping Individual Financial Stability: A Case Study of Participants at PT Sinar Mas Asuransi Syariah

Authors

  • Daniel Beltsazar Armagatlie Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung
  • Reza Ronaldo Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung
  • Tulus Suryanto Universitas Islam Negeri Raden Intan Lampung
  • Pertiwi Utami Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung

DOI:

https://doi.org/10.59141/jrssem.v6i2.1703

Keywords:

Islamic Insurance, Islamic Financial Literacy, Individual Financial Stability, Case Study, Financial Capability

Abstract

Individual financial stability depends not only on income and savings but also on the ability to utilize risk-protection instruments. This study aimed to examine how product understanding, perceived benefits, and Islamic financial literacy interact in shaping the financial stability of participants at PT Sinar Mas Asuransi Syariah. A qualitative single-case study was conducted from December 2025 to March 2026 involving 12 participants selected through purposive sampling. Data were collected through semi-structured interviews, observations, and documentation, and were analyzed thematically through coding, theme development, cross-informant comparison, and triangulation. The findings revealed varying levels of product understanding, ranging from basic or symbolic knowledge to a comprehensive understanding of protection functions and product suitability. Participants perceived tangible benefits through claim experiences and intangible benefits through a sense of security and preparedness for future risks. Islamic financial literacy was found to be low to moderate; most participants understood fundamental principles such as mutual assistance (ta’awun) and the prohibition of riba (usury), but had limited operational knowledge regarding contracts (akad), fund management, and protection mechanisms. Higher levels of product understanding and literacy enabled participants to select appropriate products and integrate insurance into their financial planning. The study concluded that Islamic insurance (asuransi syariah) contributes to financial stability most effectively when policy ownership is supported by practical financial literacy, transparent communication, and continuous participant education.

Downloads

Published

2026-09-22

How to Cite

Armagatlie, D. B., Ronaldo, R., Suryanto, T., & Utami, P. (2026). The Dynamics of Sharia Financial Product Utilization and Literacy in Shaping Individual Financial Stability: A Case Study of Participants at PT Sinar Mas Asuransi Syariah. Journal Research of Social Science, Economics, and Management, 6(2), 1137–1155. https://doi.org/10.59141/jrssem.v6i2.1703

Issue

Vol. 6 No. 2 (2026): Journal Research of Social Science, Economics, and Management (Issue in Progres)

Section

Articles

License

Copyright (c) 2026 Daniel Beltsazar Armagatlie, Reza Ronaldo, Tulus Suryanto, Pertiwi Utami

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:

  • Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International. that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  • Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  • Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.