Journal of Strategic Governance and Enterprise Development 

This study examined the influence of financial literacy and risk-aversion behavior on the motivation of Higher Education Institution (HEI) employees to avail insurance. As financial decisions become increasingly complex, understanding the factors that drive insurance enrollment is essential for promoting financial security and protection. The study employed a quantitative research design using a structured survey questionnaire distributed to 85 HEI employees through purposive sampling, with all 85 completed questionnaires included in the final statistical analysis. It assessed respondents’ levels of financial literacy and risk-aversion behavior and analyzed their relationship with motivation to avail insurance. The findings revealed that employees with higher levels of financial literacy and moderate risk-aversion behavior demonstrated a stronger motivation to avail insurance as a means of financial protection against potential risks and uncertainties. The results further indicate that both financial knowledge and behavioral tendencies significantly influence insurance-related decision-making among HEI employees. The study concludes that strengthening financial literacy programs and developing insurance products that align with employees’ risk profiles may encourage greater insurance participation and enhance long-term financial security.