Financial Mindset of Young Adults is a Prudential plc survey of 5,000 people, aged 20–35 across Asia, including 1,000 Malaysians. It looks at how young Malaysians approach investing and financial planning.
The findings reveal that young Malaysians are digitally confident but continue to value personal advice when making financial decisions.
They see insurance as an act of care for their families and prefer advisers who can help tailor protection to their needs. This reflects a generation that values stability, trust and long‑term security.
Digital Confidence, Human Trust
Young Malaysians actively research financial products online. 91% say product features and pricing matter most when choosing an insurance brand, highest among surveyed in Asia.
When decisions feel complex, they rely on people:
- 73% prefer human agents over digital tools for insurance advice
- 75% prefer human support to explain coverage
- 75% want guidance on claims
Digital tools support research, but human advice drives final decisions.
Insurance is Personal: A Family-First Mindset
For young Malaysians, insurance is closely linked to family and care:
- 88% cite financial security as their top life concern
- 62% list family responsibilities as a major concern
- 93% say protection is the top motivation for purchasing life or health insurance, the highest among markets surveyed
- 39% believe buying insurance for others is an act of love
Nearly 44% reconsidered protection after a family death or hardship.
Young, Cautious, and Future Focused
Young Malaysians are among the most cautious consumers in Asia:
- 48% prefer safe, low‑risk investments, such as fixed deposits, the highest among markets
- Only 32% prefer high‑risk investment options, well below the regional average
This highlights a split among young Malaysians between those prioritising capital protection and others willing to take on higher risk, reflecting differing approaches and views on investing within the same generation.
Clear Plans, Room to Adjust
They also look for structure without losing flexibility:
- 74% want a clear financial plan rather than being spontaneous
- While 61% prefer flexibility, adjusting plans as life changes
Overall, they prioritise planning and clarity, while staying ready to adjust.
Financial Mindset of Young Adults is part of Prudential’s research on how young adults across Asia think about protection and the future. Read the full Group report.
