FWD Takaful and HSBC Amanah announced the launch of Takaful Future Income, an innovative Long-Term Takaful Family Savings plan which comes with an innovative new solution aimed at supporting Malaysians towards a more secure retirement and peace of mind in their golden years.
The launch of this innovative product comes at an inflection point as Malaysia’s demographic shifts towards becoming an aged nation. According to the Department of Statistics Malaysia (DOSM), Malaysia is moving rapidly towards an aged society at an accelerated pace.
In 2024, 11.6% of Malaysians were aged 60 and above, and it projects an increase to 17.3% by 2040 and 23.4% by 2050, highlighting an urgent need for retirement readiness.
Naturally, a progression towards an aged nation raises many concerns, with financial worries being front-of-mind for many Malaysians. Recent findings indicate 66% of Malaysians may need to delay retirement due to current financial responsibilities, with inflation (83%) and rising healthcare costs (83%).
Heeding these concerns, FWD Takaful and HSBC Amanah’s innovative new solution is designed to support and help Malaysians confidently for the long-term through shariah-compliant retirement income and protection.
“Malaysians are living longer, and they deserve solutions that are simple, accessible, and dependable.
"With households facing rising economic challenges, assurance in their golden years becomes an essential pillar of financial wellbeing. As a takaful operator, we conceptualised Takaful Future Income to support Malaysians through a steady stream of retirement income as well as strong protection for their loved ones — so they can retire with peace of mind and celebrate living.” Aman Chowla, Country CEO, FWD Malaysia.
“As our HSBC Premier customers enjoy longer and more fulfilling lives, they increasingly seek solutions that help sustain the quality of life they value today. Takaful Future Income is thoughtfully designed to meet this need, offering a Shariah-compliant solution with triple protection and rewards for long-term commitment, empowering them to preserve their desired lifestyle well into their golden years,” said Linda Yip, Country Head of International Wealth and Premier Banking, HSBC Bank Malaysia.
These are some of the key product highlights of Takaful Future Income:
* Secured peace of mind: Receive retirement income from your selected retirement income payout age until the certificate’s maturity, supporting a steady, planned cash flow during your golden years.
* Seamless enrolment: Guaranteed Issuance Offer (GIO) with no medical check-up required, simplifying access to protection.
* Reward for commitment: Get an additional 20% of your total contribution paid at maturity when you stay committed to the plan.
* Triple protection: Up to 300% additional payout upon accidental death, providing robust protection for loved ones from life’s uncertainties.
Takaful Future Income is managed and underwritten by FWD Takaful. The product is offered exclusively through HSBC Amanah. To find out more about this unique solution, make an appointment with any of our HSBC Amanah branches nationwide, or contact your Relationship Manager.
