Jana Scheme

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The most serious commitment you ever make in life comes without a contract. When you raise a family you make an unspoken pledge to meet your families' pressing needs - food, clothing, shelter, and your children's education. Now, with the help of Allianz, you no longer have to shoulder the burden alone.

You have grown used to doing everything in your power to see that they have everything they need. Who would play that role if the worst happens? You can take steps now to safeguard the future of your family in the event of serious illness, and secure the peace of mind that comes with knowing they will be provided for if you pass on.

Allianz Takaful recognizes that family is your foremost concern. Thus, it has launched the lowest-cost programme to protect your family - the ALLIANZ TAKAFUL JANA SCHEME. This Shariah compliant plan is designed to help protect you and your family. More than just an assurance plan, the scheme provides a secure way to invest and save for the future. JANA provides a wide range of additional benefits that can be individually tailored to your specific needs.

Key Features of Allianz Takaful JANA Scheme

Facilitates the highest amounts of protection with a built-in savings platform
Offers various attractive investment funds from reputable fund managers that can be tailored to suit your risk and return preferences
Easy Liquidity - Allows partial and full withdrawals without high charges and penalties
Flexibility - Accommodates changes to plan to better reflect your changing personal and family situation

How does the plan work?

Your regular contributions, after deduction of minimal Wakalah fees, go into your own account called the Participant Investment Account or PIA. Your accounts value is based on one or more underlying investment fund(s) of your choice. Units to your PIA are allocated depending on the price of units for each underlying fund. The cash value of your policy is, therefore, the total value of units that you hold in your Participant Investment Account.

On a monthly basis, you donate part of your contributions to a common takaful pool called Participants Risk Fund. This is done through cancellation of units from your Participant Investment Account. Your selected benefits, including Life Cover, are paid from said Participants Risk Fund. The Wakalah fees for policy administration and fund management are priced in the unit prices.

Takaful Protection

Takaful, which means "guaranteeing each other", observes the rules and regulations of Islamic law (Shari'ah). Allianz Takaful plans are built on the principles of mutual cooperation and shared responsibilities. By securing an Allianz Takaful product, you cooperate with other Participants for the common good. You, therefore, contribute positively to providing quality of life for all and upholding the dignity of individuals, families, and our society in general.

Two death benefit options are available:

Death benefit equals the amount of Life Cover plus the outstanding value of Participant Investment Account (PIA) and share on surplus on the Participants Risk Fund (PRF), if any
Death benefit equals the amount of Life Cover or the outstanding value of PIA, whichever is higher, plus the share on surplus on the PRF, if any.

In case of emergency...

You never know when you may require money for some emergency expenditure. Allianz Takaful Jana allows you the option to make partial withdrawals from your Participant Investment Account (PIA) anytime after completion of 3 policy years and payment of 3 annual contributions, subject to maintaining a minimum PIA balance of USD1,000 / BHD350.

You also have the option to fully withdraw the amount in the PIA anytime during the policy term. But if such a request is made before the completion of 3 policy years and payment of 3 annual contributions, Allianz Takaful reserves the right to charge the Wakalah fees payable for the balance term of your policy.

Continued Protection Benefit

JANA Scheme provides you a unique feature of continued protection, even if you stop your regular contributions. Your policy shall be kept in-force by cancellation of units at the prevailing unit price to make your donations to the Participants Risk Fund, so long as there are units to support such contributions for at least 3 months.

Fund Options

Allianz Takaful offers you a wide array of investments funds that are all Shari'ah compliant. You can choose to invest fully in any one fund or allocate your contributions into the various funds in a proportion that suits your investment needs.

Supplemental Benefits

Allianz Takaful offers optional riders that can be attached to and made part of your JANA Scheme plan, including the following:

Accidental Death Benefit (ADB)
Critical Illness Benefit (CIB)
Permanent Partial Disability Benefit (PPD)
Permanent Total Disability Benefit (PTD)
Waiver of Contribution Benefit in case of Permanent Total Disability (WOC)

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