KUALA LUMPUR: FWD Takaful Bhd and HSBC Amanah have unveiled a long-term takaful family savings plan to help Malaysians achieve a secure and comfortable retirement.
The company said Takaful Future Income aims to provide peace of mind in later life through Syariah-compliant retirement income and protection.
FWD Takaful noted that the launch comes as Malaysia faces a rapid demographic shift, with 11.6 per cent of the population aged 60 and above in 2024, whuch is projected to rise to 17.3 per cent by 2040 and 23.4 per cent by 2050.
“Financial concerns are increasingly pressing for Malaysians amid these demographic shifts, with studies showing that 66 per cent may need to delay retirement due to existing financial obligations, while 83 per cent are affected by rising inflation and healthcare costs,” it added.
FWD Malaysia chief executive officer Aman Chow said Malaysians are living longer and deserve solutions that are simple, accessible and dependable.
He added that assurance during retirement is a crucial pillar of financial wellbeing, especially as households face increasing economic challenges.
“Takaful Future Income is designed to provide a steady stream of retirement income and robust protection for loved ones, allowing Malaysians to retire with confidence and enjoy their golden years,” he said.
HSBC Bank Malaysia head of international wealth and premier banking Linda Yip said the savings plan offers with comprehensive protection and rewards for long-term commitment, empowering customers to preserve their lifestyle well into retirement.
The plan provides retirement income starting from the selected payout age until maturity, ensuring consistent cash flow during retirement.
Enrolment is made simple through a guaranteed issuance offer with no medical check-up required and customers who remain committed to the plan receive an additional 20 per cent of their total contribution at maturity.
The product also offers triple protection, including up to 300 per cent additional payout in the event of accidental death, safeguarding loved ones against unforeseen events.
The product is managed and underwritten by FWD Takaful and is available exclusively through HSBC Amanah.
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