Sun Life Malaysia’s 2025 Financial Resilience Index revealed that 41% of Malaysians face challenges with saving consistently and planning for the future, despite the significance of emergency savings as a key financial goal.
The Sun Life Asia Financial Resilience Index surveyed over 6,000 people in Malaysia and other Asian countries. It found that because of ongoing inflation, many people are focusing on immediate expenses. Meeting daily costs is the top concern for 62% of Malaysians surveyed, while saving for emergencies is the second priority. On the other hand, saving for retirement has dropped to seventh place. Although nearly 60% of Malaysians feel financially secure, many lack true financial resilience.
To address this need, CIMB Islamic Bank Berhad (“CIMB Islamic”) and Sun Life Malaysia Takaful Berhad (Sun Life Malaysia Takaful), a family takaful company, have worked together to create Sun Enrich Extra-i. This new flexible short-term takaful plan aims to make lifelong wealth protection easier, quicker, and more accessible.
Sun Enrich Extra-i, developed by Sun Life Malaysia Takaful Berhad and distributed through CIMB Islamic, offers long-term protection for up to 30 years with a minimum five-year contribution period. The plan features a flexible top-up option to grow wealth and manage costs while ensuring protection, making it suitable for individuals and families, including retirees seeking financial security. It provides liquidity for significant goals like education or major purchases, along with annual payouts that allow for cash accessibility and reinvestment. The plan, which requires no medical check-up, signifies a milestone in the 20-year partnership between Sun Life Malaysia and CIMB Bank Berhad, aiming to enhance the financial security of Malaysians.
Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic said, “Our strong partnership with Sun Life Malaysia reflects a shared vision of making financial protection and savings more accessible and relevant for Malaysians. Many individuals today face competing financial pressures, which makes it challenging to plan for the long term. Sun Enrich Extra-i is designed to address this challenge by combining meaningful protection with the flexibility to save, grow wealth, and serve as an effective tool for wealth distribution – all without the weight of prolonged commitments. Through this plan, we aim to empower our clients to build lasting financial resilience and security at every stage of life.”
Ho Teck Seng, President and Country Head of Sun Life Malaysia, said, “We are proud to introduce a truly revolutionary takaful product that simplifies the path to financial resilience. By leveraging CIMB’s extensive network, we can deliver this innovative solution to a broad segment of the Malaysia population, from retail to affluent Clients, giving them a meaningful way to protect their wealth, build emergency savings, and achieve greater financial stability.”
The plan offers clients peace of mind in legacy planning as a practical estate planning option. The Hibah nomination feature allows Muslim clients to manage wealth distribution with control and flexibility, adhering to Shariah principles.
Key features of Sun Enrich Extra-i:
• Financial Security in as short as Five Years: Unlike traditional plan with longer contribution period, clients only need to contribute from a short period of five years to secure longer-term financial security. This is a game-changer benefit for those wanting to build a financial legacy without a lifelong financial commitment.
• Flexible Wealth Growth: With no medical check-ups required, it is easier and faster for Clients to start their journey towards financial security. It also offers a flexible top-up option, allowing Clients to future proof their wealth at their own terms.
• Securing Legacy: The plan offers a balanced approach to protection and savings, ensuring Clients are not only covered for life’s uncertainties. Its Takaful Hibah feature ensure that your wealth is transferred to your beneficiaries efficiently and securely, give you the peace of mind, knowing your loved ones will be protected.
For more information, visit the nearest CIMB branch or speak to CIMB’s Relationship Managers, or refer to Sun Life Malaysia’s website at https://www.sunlifemalaysia.com/insurance-and-takaful/familytakaful/sun-enrich-extra-i/