Kinds of Takaful

Family Takaful:
Family takaful is one of the kinds of Islamic insurance and it also sub divided into various kinds given below; 1) Education Takaful: Every parent wants to secure the future of his children¶s. A good education is a foundation for success. This is why all parents want to see their children go to good educational institutions and acquire knowledge so that they may grow up into scholars, and doctors, and scientists, and engineers, and professors, and good human beings. Takaful provides an Education protection plan which ensures the continuity of the child¶s education even when the parents are not around or cannot afford the tuition fees. This Plan is available to parents between the ages of 18 and 65 for a time period of their choice but it must end when the participant turns 85. The education Plan is most suitable for families with younger children. Benefits:      Withdraw entire cash value in PIA at any time. No charges levied for this. Make ad-hoc or regular withdraws from PIA. No withdrawal charges levied till the fourth withdrawal in a single membership year. Minimum partial withdrawal is Rs. 15,000. Surplus in the Waqf fund, if any, can be distributed amongst the participants at the end of every year. Sponsored child will receive family income benefits to cover the cost of secondary education. Sponsor parents will receive an amount available in their account in either lump sum or regular installments.

2) Savings Takaful: Savings plays an important role in the success and prosperity of a society and the country. It¶s the little drops that make the ocean. Imagine if you save a little every month or every year for the complete duration of the savings term, how much you would have saved! A small commitment and discipline can go a long way in securing the fulfillment of your responsibilities. This is a multi-purpose financial protection and savings Takaful which invests your small savings and grows it into a large fund to take care of all your future financial needs, such as:

     Children¶s Marriage Retirement Income Buying a New House Pilgrimage for Hajj/Umrah Family Vacations. 4) Healthcare Takaful: Health is an irreplaceable treasure of life. . Along with this plan employees can be provided with any of the following additional coverage. major medical expenses. 15.       Group accidental death family takaful Group permanent partial disability family takaful Group permanent total disability family takaful Group temporary total disability family takaful Group natural disability family takaful Group accidental medical expense family takaful Withdraw entire cash value from Participants Investments Accounts (PIA) at no extra cost. Minimum top-up-amount should be Rs. maternity/childbirth as well as day to day medical needs. from the Waqf. that Family Takaful is trying their utmost to take care of your well being.000/. The basic coverage can also be enhanced by adding coverage of risks that are arising out of a natural calamity or by unpredictable accidents. etc Benefits:      3) Group family Takaful: Group Family Takaful is a risk coverage plan that provides protection to participant employees in the event of death or disability. Participants receive the cash available in his PIA (Participants Investment Account) and the accumulated surplus. the one who is deprived values it more than any material thing in the world. if any. Increase your investment portion by making additional contributions at any time. It covers your hospitalization due to any reason. It is for this reason. so that a multiple of that employee's yearly salary can be paid to his/her family or dependants to ease their financial difficulties. Discontinue your membership without any cancellation fee within 14 days of membership issuance.

lightning or frost . external explosion. We also cover Marine Hull Takaful as per International Hull clauses. whether private or commercial. 3) Motor Takaful: This Takaful provides protection for loss of or damage to the covered vehicle. self ignition. and to the accessories whilst thereon caused by:      Accidental damage Malicious act Theft / snatching at gunpoint Legal liability arising out of an accident to third party Fire.General Takaful: General takaful is the second kind of Islamic insurance (Takaful) and it is also sub divided into different kinds given below. it provide covers in respect of loss of or damage to the property against the following perils:           Fire & Lightning Riot & Strike Damage Malicious Damage Standard Explosion Earthquake (Fire & Shocks) Atmospheric Disturbances including rain/flood and Hail/Wind storm Aircraft / Impact damage Burglary Fire due to electrical fluctuation And also consequential loss due to above perils 2) Marine Takaful: Marine takaful covers loss of or damage to cargo whilst in transit by Sea/Air and rail/road in case of Import/ Export and inland transit. As the name depicts. This will help the participants to minimize the risk of loss. 1) Property Takaful: Property takaful is very important for those who have owned any kind of property.

rail. Loss of baggage and passport. cyclone. volcanic eruptions and other convulsions of nature Whilst in transit by air.       Accidental death and all the emergencies.       Accidental death and all the emergencies. The following covers are provided under this head:  Money Takaful .   Flood. Emergency evacuation. typhoon. hurricane. Loss of baggage and passport. Emergency evacuation. inland waterway. road. earthquake. Accidental disablement Accidental medical treatments. Travel Takaful has been tailored to offer you round the clock personal accident Takaful cover that fits your needs by providing you and/or your family a comprehensive coverage for. lift or elevator Terrorism Covered 4) Hajj and Umrah Takaful: Hajj and Umrah Takaful gives you the feeling of tension free on a very nominal contribution in order to make your journey stress free Hajj & Umrah Travel Takaful has been tailored to offer you round the clock personal accident Takaful cover that fits your needs by providing you and/or your family a comprehensive coverage for. Prepatriation of mortal remains 6) Miscellaneous Takaful: Miscellaneous takaful also provide customized solution to our corporate clients and as well as to individuals. Accidental disablement Accidental medical treatments. Prepatriation of mortal remains 5) Travel Takaful Coverage: Its coverage is similar to the Hajj and Umrah Takaful.

      Machinery Takaful Fidelity guarantee Liability Takaful Workmen compensation Personal Accident Contractor / Erection All risk .

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