Family Takaful

WHAT IS FAMILY TAKAFUL?

Once you have a family, your priorities and responsibilities naturally change. The safety, health, and well-being of your family become your top priorities. Did you know that Family Takaful offers more benefits than simply protecting your family?

Before that, what exactly is Family Takaful?

Family Takaful is a plan that provides you with protection while also offering long-term savings. You or your beneficiaries will receive financial benefits if you experience an accident or other unforeseen circumstances. At the same time, you can enjoy long-term personal savings, as part of your contribution is allocated to an account for savings purposes.

You may also receive investment returns from the savings portion of your contributions based on the agreed terms and conditions. By participating in Family Takaful, you may also be eligible for individual tax relief, similar to life insurance, subject to the applicable tax regulations.

“Satu dinar yang kau infakkan di jalan Allah, satu dinar yang kau infakkan pada hamba sahaya, satu dinar yang kau sedekahkan kepada seorang miskin, dan satu dinar yang kau infakkan kepada keluargamu. Yang paling besar pahalanya adalah yang kau infakkan kepada keluargamu.”

(H.R Muslim)

THE CONCEPT OF TAKAFUL AND FAMILY TAKAFUL

When you participate in Family Takaful, you will contribute a certain amount of money to the Takaful fund. You will enter into an agreement (aqad) whereby part of your contribution is allocated as a participation contribution (tabarru’), while the remaining portion is allocated for savings and investment.

Your contribution in the form of tabarru’ will be placed into a fund known as the Participants’ Special Account (PSA). This fund is used to fulfil the principle of mutual assistance among participants if any participant suffers a misfortune, such as death or permanent disability. If you survive until the maturity date of the plan, you may be entitled to a share of any net surplus from the fund, if available.

The Takaful operator will invest your savings and investment contributions through the Participants’ Account (PA). Any investment profits will be shared between you and the Takaful operator based on the agreed profit-sharing ratio.

Get quality and reliable protection for your loved ones today. Contact our Financial Consultants and Advisors to learn more about Family Takaful and receive guidance on a plan that is suitable for the needs and financial responsibilities of you and your family.