41% Malaysians Lack Consistent Savings, According To Sun Life Malaysia’s 2025 Financial Resilience Index

CIMB Islamic and Sun Life Malaysia Takaful introduced Sun Enrich Extra-i to address savings gap

 

With inflation and cost of living on the rise, Malaysians are looking for smarter ways to build stronger financial safety net. According to Sun Life Malaysia’s 2025 Financial Resilience Index, 41% of Malaysians struggle with consistent savings and long-term planning, even though emergency savings are the second most important financial goal.

 

The Sun Life Asia Financial Resilience Index surveyed over 6,000 people in Malaysia and other Asian countries. It found due to persistent inflation, a focus on short-term expenses has risen with meeting daily expenses is the top priority for 62% of Malaysian respondents, and building emergency funds is the second. Retirement savings have dropped to seventh place. It also found that while nearly six in 10 Malaysians feel financially secure, many are not financially resilient.

 

In response to this growing need, CIMB Islamic Bank Berhad (“CIMB Islamic” or “the Bank”) and                                Sun Life Malaysia Takaful Berhad (Sun Life Malaysia Takaful), a family takaful company, have co-developed and introduced Sun Enrich Extra-i, an innovative flexible short-term pay takaful plan to make lifelong wealth protection simpler, faster and more accessible. 

 

Developed and managed by Sun Life Malaysia Takaful Berhad and exclusively distributed through CIMB Islamic, Sun Enrich Extra-i provides long-term protection of up to 30 years coverage with a minimum of five-year contribution period. It includes a flexible top-up feature designed to help clients grow their wealth and manage rising costs while staying protected. With this unique and balanced approach, the plan is well-suited for individuals and families, including retirees who value lasting financial security.

 

The plan also offers purposeful liquidity, with funds readily accessible for meaningful goals, such as a child’s education or major life purchases. The annual payouts provide a steady flow of accessible cash with the option to reinvest according to personal needs. This flexibility comes without sacrificing protection. With no medical check-up required, coverage can be obtained quickly and easily.

 

The unveiling of this new plan also marks a significant milestone in the 20-year strategic partnership between Sun Life Malaysia with CIMB Bank Berhad and CIMB Islamic. It reaffirms both organisations’ shared long-term vision of delivering inclusive and innovative financial solutions that strengthen the financial security of Malaysians at every life stage.

 

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 allows clients to enjoy greater peace of mind in their legacy planning, as an alternative and effective estate planning option. With the Hibah nomination feature, it provides Muslim clients a practical way of managing wealth distribution with added control, flexibility, in accordance with 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.