CIMB today has introduced a new salary account under its CIMB@Work programme that comes with complimentary Takaful protection coverage of up to RM200,000. The bank says the offering is aimed at making financial protection more accessible for working Malaysians by integrating it directly into a salary account.
The move comes amid concerns over underinsurance in Malaysia. CIMB notes that only around 40% to 50% of Malaysians currently have life protection coverage, with many lacking sufficient protection against critical illnesses or unexpected life events. Rather than requiring users to separately sign up and pay for standalone protection plans, the bank is effectively using the salary account itself as the entry point for basic financial protection.
The new CIMB Salary Account includes coverage for 36 critical illnesses such as cancer, stroke, heart attack, kidney failure, and Alzheimer’s disease. It also covers death and Total and Permanent Disability (TPD). The bank adds that the protection is underwritten by Sun Life Malaysia Takaful Berhad.
No Medical Screening Required
According to CIMB, eligible account holders will not need to undergo health screenings or submit health declarations in order to receive the complimentary protection. However, exclusions relating to pre-existing conditions still apply.
To activate and maintain the Takaful protection, the bank says users must keep a monthly average balance (MAB) of at least RM2,500 in the account. The account is open to individuals aged between 18 and 69 years old, provided their salary is credited directly into the account.
Aside from the complimentary protection, customers enrolled under the CIMB@Work programme will continue to receive other benefits. These include lower entry requirements for selected credit cards, as well as preferential rates for personal financing, home financing, and Term Financing-i secured by ASB certificates.
Limited-Time Bonus Coverage
As part of the launch campaign, CIMB is also offering additional complimentary critical illness coverage for eligible customers who open the salary account between May and July 2026. The bank says this effectively doubles the critical illness protection amount for one year, subject to terms and conditions.
Separately, account holders will also have the option to purchase up to RM300,000 in additional critical illness and death coverage directly from Sun Life Malaysia Takaful Berhad through an online-only offering running from July to December 2026. CIMB says this add-on coverage will also not require medical underwriting, although exclusions and conditions still apply.
(Source: CIMB press release / official website)
