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The literatures available on the Takaful insurance are mostly written in either Malaysia or Arab countries. These countries share some socio-religious values but different socio-cultural and economic background with Nigeria. Thus, the research findings on these countries would  have to be applied in Nigeria with caution and necessary modification which also served as a gap that would be filled.
Significance of the Study Islamic Insurance (Takaful)

In  his  conceptual  study,  Yusuf  (2006)  had  noted  that  the  introduction  of  interest-free insurance encourages Muslim-community to get attracted on the products and gains support and patronage of Muslim population. This is in contrast to the findings of Yusuf, Gbadamosi & Hamadu (2009) which state that there is negative attitude among Nigerians on the conventional insurance services. This contention brings the need to study Takaful position in order to address the gap.

The empirical studies on Takaful and its products demand or consumption are mostly done in a foreign country like Malaysia (Redzuan, Rahman, & Aidid, 2009; Hamid & Othman, 2009; Salleh & Kainaruddin, 2011; Hamid, Osman & Nordin, 2009 and Farooq, Chandhry, Alam & Ahmad 2010). The findings of these studies might not explain the different environment like Nigeria, hence, brought the need for Nigerian research that can suit its peculiarities to fill the gap.

Besides, many studies on Takaful insurance are conceptual in nature (Billah (a) (b) (c) (d) (e) (f) (g) undated; Siddiqui & Athmey, undated; Swartz & Coetzer, 2010 and Alamasi; 2010). This shows that there is need for scientific research that can explain the true position of Takaful products consumption. Because, the emergence of Takaful in Nigerian insurance industry has been in existence since 2003 and yet no much concerted  efforts are made academically to study the subject matter. 

This study, however, is designed to enable the Takaful operators to understand the relevant factors to be considered when marketing the services and even in determining the level of the consumptions of their services. 

The research would equally add more value to the existing academic literature on the Islamic finance on the Islamic insurance. In conclusion, therefore, the findings of this research will contribute to the development of the nation’s economic sector especially with the emergence of the first fully Islamic bank in Nigeria (Ja’iz Bank) and the interest shown by more conventional banks to open Islamic banks windows in 2011.