COMPARISON REGARDING FAMILY TAKAFUL BETWEEN ETIQA TAKAFUL

AND ABU DHABI NATIONAL TAKAFUL

ETIQA TAKAFUL ABU DHABI NATIONAL TAKAFUL

Product Etiqa i-Secure Group Family Takaful

Contract Wakalah Contract Not stated in website

Features  Cover Term  Protection up to age 65
Protection up to age 75  Maximum outstanding loan
 Premium Type amount is 10,000,000
Progressive rate. Increases as  Maximum annual expenses
you age. 10,000,000
 Plan Renewal  Use human life-value
Option to renew plan. calculator
 Income Tax Relief
Up to a maximum of
RM3,000 a year.
Coverage  Death  Accidental Death Benefit (ADB)
A lump-sum payment to your – Double Indemnity
family when you die of any  Permanent Total Disability
causes from 21 to 76 years’ Benefit (PTD) due to Accident or
old up to RM500,000 Sickness
 Total and Permanent  Takaful benefits for the
Disability employees
When you’re unable to work
or take care of yourself due
to ongoing injury or sickness
from 21 to 76 years old up
to RM500,000
Benefit  Coverage up to RM500,000  A low-cost
 Easy & convenience  Easy administration
purchase  Lower group rates as compared
 No medical check up to individual Takaful insurance
  No medical check up

From our studies, we found out it has differences of Etiqa i-Secure that happens in Etiqa Takaful
and Group Family Takaful at Abu Dhabi National Takaful. Such as in the features, coverage and
the benefits.
Etiqa Takaful is using the contracts of wakalah or agency. Under this model, Takaful company
will act as an agent to manage the Takaful fund on behalf of the participants and the Takaful
company will be entitled to a wakalah (Service) fee for the services. The operator is permitted to
charge a fee under the agreement. The fee is payable from the takaful contribution by the
participant. For i- Secure Etiqa, a fee is paid to Etiqa Takaful to manage the contributions on the
participants behalf. The wakalah fee is a fixed deduction of 30% from the contributions in
addition to a RM50 deduction per annum per certificate. However for Abu Dhabi National
Takaful. It did not stated the contract that used for their group family takaful.
The features for Etiqa Takaful are protection up to age 75 with progressive rate which is can
increases as you age and the participant also can easily renew the plan. By taking family takaful
the participant will get income Tax Relief Up to a maximum of RM3,000 a year. While the
features of Abu Dhabi National Takaful are protection up to age 65, maximum outstanding loan
amount is limited to 10,000,000, and maximum annual expenses limited to 10,000,000 based on
human life-value calculator.
For the coverage part, Etiqa Takaful cover a lump-sum payment to the family in case of the
participant death of any causes from 21 to 76 years old up to RM500,000 and for Disability,
when the participant unable to work or take care of their self, due to ongoing injury or sickness
from 21 to 76 years old cover up to RM500,000. In the event of death, the family will receive
100% of the sum assured, the coverage will be active till the participant turn 75 years old.
However, this is subject to the death that occurring after the first year of the certificate term.
However, for Abu Dhabi National Takaful they have Human Life-value Calculator to calculate
how much the coverage based on the information given by the customer. The customers need to
provide their age, annual income, annual expenses and outstanding loan amount in order to get
the information of their coverage. The human life value calculator helps to assess the financial
loss of the families would incur if you were to die today. The calculator provides only a rough
estimate of your human life value, which can factor into how much coverage be needed. All the
customers can do this via online at Abu Dhabi National Takaful website.

The benefits for i-secure Etiqa Takaful are coverage up to RM500,000, easy and convenience
purchase, no medical check-up and also can subscribe to multiple plans, as long as the collective
sum assured is equal to or below RM500,000. While for Abu Dhabi National Takaful, the
benefits are a low-cost, easy to administer policy that can be renewed annually, flexibility that
shall provide the optimal plan suiting the coverage needs, easy administration so new members
can join and outgoing members can leave the scheme at any time, lower group rates as compared
to individual Takaful insurance. And Abu Dhabi National Takaful also gives employees the
facility to adjust the package to their specific needs by choosing from a comprehensive range of
additional Takaful benefits that available.