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اللھ ورحمة عليكم اللھ السالم ورحمة عليكم السالمFINANCIAL PLANNING 2005
“U$iN $eN$e”
‘YOUR TAKAFUL FINANCIAL PLAN’By
Zamrin Hj Abd GhaniAsst. Marketing Manager, Insurans Islam
TAIB
FAQWhat is Takaful?
Why do we need it?How does it work for me?
Is an Arabic word which means ‘Joint Guarantee’
It is an act where a group of people reciprocally guarantees each other, against
losses or damages caused by any catastrophe or disaster whereby the needy
will be given financial compensation
WHAT IS TAKAFUL?WHAT IS TAKAFUL?
The main concept of Takaful is to provide Insurance services in
conformity with Syariah and based on The Islamic Principles of Al-Takaful,
Tabarru’ and Al-Mudharabah
TAKAFUL CONCEPTTAKAFUL CONCEPT
What should be your ‘Takaful Financial Plan’
Individuals planning to save money for their: Future To provide Financial
Security for their Beneficiaries or Family in the event of untimely Death.
Objectives of the Takaful Plan
To provide TAKAFUL BENEFITS in the form
of Monetary Value should the individual suffers from untimely Death or
Permanent Disablement as a result of Accident or Illnesses.
To create a manageable long term fixed plan in the form of
REGULAR SAVINGS with the view of creating a
Retirement or Long Term Contingency fundOr Any Other Life Goals Fund
As an INVESTMENT programme,
in conformity to Syariah approved investment, that
could grow into a Long term fund for the Individual or his
Beneficiaries.
‘Your Takaful Plan’• The period of participation for the PLAN will
depend on the age of the participants, where the final payment of the takaful contribution will end once the participant reach the age of 65 years old.
• Maturity Periodi. 10 yrs ii. 15 yrs iii. 20 yrs
iv. 25 yrs v. 30 yrs vi. 35 yrsvii. 40 yrs
IllustrationAge on next birthday : 20 yearsTerm participated : 20 yearsContribution : B$1,200.00 per
annum Tabarru’ Rate : 5.5% p.a
=B$66.00 p.a.
Is a Voluntary contribution or a means to provide Sincere Help
Whereby the participants/donors contribute a certain % of the whole contribution being paid as a return for participating in the Plans or Takaful Schemes
This is with the intention to use the money to help other participants who suffered losses.
Tabarru’Tabarru’
TakafulContribution$1,200.00 Participant
SpecialAccount
(PSA)$66.00
ParticipantAccount
(PA)$1,134.00
IITSB$30.00
InvestmentProfit
$100.00
TotalFamilyTakaful Fund
$1,200.00
Participant$70.00
FLOW CHART ILLUSTRATING THE MANAGEMENT OF TAKAFUL PLANS
Takaful ContractBased On Al-Mudharabah
TakafulContribution
$1,200.00
ParticipantAccount
(PA)$1,134.00
ParticipantSpecialAccount
(PSA)$66.00
A large proportion of the takaful contribution paid will be credited into the Participants Account (AP) as the Participant Savings.
The remaining balance will be credited into the Participants Special Account (AKP) as Tabarru’ (donation) according to their individual specific rate, for the purpose of joint guarantee and cooperation among all participants, as embodied in the concept of Al-Takaful.
Total Saving in the Participants Account (PA)
$94.50 x 240 months B$ 22,680.00
Investment Returns Commutative Profit for 20 yrs
B$TBA
Total amount saved by the Participant
B$TBA
ILLUSTRATION OF SAVINGS
ILLUSTRATION OF TAKAFUL BENEFITSILLUSTRATION OF TAKAFUL BENEFITSTotal saving in the Participants Account (PA)
$94.50 x 24 months B$2,268.00
Investment Returns Commutative Profit for 2 years
B$TBA
Normal Savings ends upon untimely Death/PTD
$100.00 x 24 months B$ 2,400.00
Saving profit from his Participants’ Special Account (PSA)
B$100 x 216 months B$ 21,600.00
Total benefits B$TBA
Note : After two (2) years of participation
‘Your Takaful Plan’ Basic Cover for
- Death- Permanent Disablement
Additional Cover for- Personal Accident- Hospital Benefit- Family Rider- Critical Illness and others
والسالمWe hope you found
this presentation informativeand useful
in making the right financial decision
zamrin.ghani@insuranstaib.com.bnTel No. 2237718, 223 7724/25
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