AIA Public Takaful Bhd (AIA Public Takaful) has launched a product to help Malaysians achieve financial security and has gone the extra mile to empower the Bumiputera segment to build wealth in the post-pandemic era.
Its CEO Elmie Aman Najas said the proprietary Total Wealth Solution supports its customers' wealth aspirations and complements the pre-existing Total Health Solution.
"We rolled out Total Health Solution in April 2021 with the goal of helping people take charge of their health and well-being. Through this proposition, our customers are provided holistic support and guidance on how to live healthily and with vitality.
"Our Total Wealth Solution, meanwhile, is designed to encourage them to inculcate healthy financial habits and make sound investments that will fulfil their long-term savings goals and, at the same time, help them build a lasting and effective legacy for their family," he said.
According to Mr Elmie, the Total Health and Wealth Solutions together form an end-to-end ecosystem that is built upon the foundation of four supporting pillars – Plan Well, Live Well, Protect Well and Get Well, which enable customers to lead healthier, longer, better lives.
"We believe that health and wealth go hand in hand. Our goal is to create a comprehensive ecosystem that would ultimately provide our customers with everything they need to achieve a better quality of life," he said in an interview with the New Straits Times recently.
He also added that the demand for personalised health and wellness propositions coupled with trusted and professional advice has never been greater.
That is why whenever AIA Public Takaful develops any solutions, it always looks at how the products and offerings can meet customers' health, wealth and protection needs.
"So, the focus on 'wealth' is always there. As a leading takaful operator, we always challenge ourselves to develop and offer innovative Shariah-compliant plans that can support our customers even when they are not utilising their takaful benefits," he said.
According to the Finance Ministry, up to the first half of 2022, over 6.6 million members (52%) of the Employees Provident Fund (EPF) aged under 55 had savings of less than RM10,000.
Of that number, 4.99 million (75%) were Bumiputera.
Throughout the pandemic, Malaysians are taking on more debt and withdrawing from their retirement and EPF funds, which may lead to an uncertain future. Mr Elmie said that these staggering statistics show financial planning is becoming increasingly necessary.