18th March 2026 - 3 min read
For Muslim Malaysians who already hold eligible takaful coverage, Sun Life Malaysia Takaful is extending an added benefit that combines protection with a faith-based legacy element. Through MySinarKasih Sun Life [PDF], eligible existing clients in the low to middle income segment will receive either a complimentary waqf benefit or the option of Badal Hajj.
The initiative covers up to 10,000 eligible Muslim clients, with a total benefit value of RM80 million. Each qualifying client receives a benefit valued at RM8,000.
Under MySinarKasih, the complimentary waqf benefit is payable upon death within one year of certificate commencement and will be channelled to Yayasan Waqaf Malaysia. Customers can choose Badal Hajj instead, with the same value and carried out by an authorised operator.
This means the added benefit does not work like a standard cash payout. It is structured as a religious legacy feature within the takaful plan, rather than extra money going directly to surviving family members.
The launch positions waqf as part of longer term financial planning, instead of something done only through separate one off contributions. Sun Life Malaysia Takaful said the aim is to help more Malaysians pair financial protection with a meaningful charitable legacy in a more structured way.
The product was launched in conjunction with National Waqf Month 2026, which is jointly organised by the Department of Awqaf, Zakat and Hajj, and Yayasan Waqaf Malaysia.
According to the release, waqf assets in Malaysia were estimated at more than RM1.3 trillion in 2023, based on Securities Commission Malaysia data. At the same time, the company said awareness of how waqf can be built into everyday financial planning remains low.
To support the launch, Sun Life Malaysia Takaful said it will roll out year long educational outreach through social content, takaful talks, and podcasts to improve waqf literacy among customers and the wider community.
The complimentary feature is not a broad change across all takaful products. It is tied to this specific initiative, applies only to eligible Muslim customers, and is capped at 10,000 participants.
That makes it more relevant as a product comparison point than a wider industry shift. For anyone reviewing coverage options, the key question is not just how much protection a plan offers, but also what kind of legacy feature is built into it, and who ultimately receives that value.
For those looking at takaful beyond basic protection, MySinarKasih adds a different kind of value proposition. The appeal here is not a higher family payout, but the option to link protection with waqf, or Badal Hajj, in one arrangement.
That also means the details matter. The benefit is limited to a one year period from certificate commencement, and the value is fixed at RM8,000. This is a targeted add on for a specific group of customers, not a replacement for the core protection features people usually compare first when choosing a takaful plan.
Sun Life Malaysia Takaful said it has offered family takaful plans with embedded waqf features since 2017, including Takaful Mulia, Sun Istismar Extra, and Sinar Wasilah. To date, the company said it has facilitated more than RM390,000 in contributions to Yayasan Waqaf Malaysia from 1,973 waqif customers.
MySinarKasih was launched on 17 March 2026, making this a product initiative that is already in effect, rather than a regulatory or policy change.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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