Takaful Coverage

A Takaful Contract is made between the Participant and Allianz Takaful.

The principles and provisions of the Islamic Shari'ah shall be applicable to all the Takaful Contracts issued by the Company as decided by the Company's Shari'ah Board.

The Takaful Fund provides a means of financial protection to its Participants through the principles of Takaful which encourage the members to co-operate and help each other in an organised way. The Participants donate all or part of their contributions to the Takaful Fund for their collective benefit to pay for the losses suffered by any of the Participants as defined in the provisions of the Contracts.

The Participant is considered jointly liable with the remaining Participants for compensating the losses suffered by any one Participant. The Company shall compensate the Participant out of the Takaful Fund for losses and damages sustained according to the terms, conditions and exceptions set forth in this Contract.