HSBC Life’s inaugural survey on High Net Worth (HNW) Legacy Planning reveals that Malaysia is leading in legacy planning across Asia and the Middle East. The survey, titled “Bridging the intentions-action gap,” highlights that 52% of Malaysia’s HNW individuals have a formal legacy plan, exceeding the survey average of 41%. This places Malaysia ahead of wealthier markets like Singapore, where only 45% have a formal plan, and significantly ahead of Hong Kong and Taiwan, with 26% and 24% respectively.
The survey underscores a trend of early legacy planning among Malaysia’s HNW individuals, with 82% starting their plans before the age of 50. This is in stark contrast to Taiwan, where 40% delay planning until after 50. Linda Yip, Country Head of International Wealth and Premier Banking at HSBC Malaysia, commented, “Asia is experiencing one of the largest wealth transfers in history, and Malaysia is part of this shift. With a GDP growth of 5.2% in 2025 and rising incomes, more entrepreneurial wealth is emerging, and younger high-net-worth individuals are increasingly proactive in legacy planning.”
Family considerations are a significant factor, with 43% of Malaysian respondents citing potential family disputes as a primary concern. This highlights the importance of establishing clear intentions early. The survey also notes that 25% of HNW individuals across the nine markets use life insurance as a primary legacy planning tool, with Malaysia at 17%. This suggests room for growth in the adoption of life insurance as a planning strategy.
