A complete range of Shariah-compliant plans for the entire family

Kuala Lumpur: CIMB Islamic Bank today launched the EasyLife Takaful Series, a range of bancatakaful plans designed to provide customers with Shariah-compliant options that caters to their families’ diverse needs.

Managed by CIMB Aviva Takaful Berhad, the EasyLife Takaful Series is the first complete set of Takaful plans offered via the CIMB Islamic’s bancatakaful channel. It comprises of four tailored investment-linked plans namely EasyLife Takaful Men, EasyLife Takaful Women, EasyLife Takaful Kids’, EasyLife Takaful Retirement and a cost-effective health plan, the EasyLife Takaful Health.

EasyLife Takaful Series caters specifically for families. A couple without any protection plan can opt for the men and women’s plans and then subsequently add on the kids’ plan once they have children.  Depending on their needs and financial ability, they can also opt for the retirement plan to secure a comfortable retirement or to take up the health plan which offers health and hospital benefits covering main diseases affecting Malaysians nowadays.

“After spending the past 3 years growing our financing asset base by providing home financing, hire purchase and personal financing to consumers, we have decided to broaden our offerings by introducing a new line of bancatakaful products. We believe that the EasyLife Takaful Series will help our customers find the right Takaful policy to meet their unique and specific needs," said Badlisyah Abdul Ghani, Executive Director and Chief Executive Officer of CIMB Islamic Bank Berhad.

Bank Negara Malaysia has indicated that Takaful is one of the fastest-growing segments of the insurance industry in the country, recording an average growth of 20% per annum. This is testimony to the long term potential of the industry and how increasingly popular Takaful product is among consumers.  

“Developing the Takaful Industry is essential to the nation’s pursuit of building a strong pool of long-term Islamic funds critical to the development of a robust Islamic financial market. CIMB Islamic via its extensive nationwide network of branches and mobile sales force offers a wider platform for delivering Takaful products to consumers. The larger pool of long term Islamic funds created from the sale of the EasyLife Takaful Series will eventually lend support to our Islamic debt and equity capital market, which in turn will contribute towards a sustained private sector-led economic growth,” Badlisyah added.

The EasyLife Takaful Series via CIMB Islamic represents a significant milestone for CIMB Aviva Takaful Berhad growth’s strategy in the country. This series follows closely to the conventional range that was rolled out by CIMB Aviva Berhad via CIMB Bank last year.

At the launch, Muhammad Fikri Rawi, Chief Executive Officer of CIMB Aviva Takaful Berhad said, "We believe that demand for Takaful products will continue to rise over the coming years, particularly as customer awareness increases. The bancatakaful plans under the EasyLife Takaful Series are simple, transparent, affordable and easy to understand and more importantly, customers can now plan for their savings and protection needs in a wholesome Shariah-compliant manner.”