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