Takaful Coverage
What is Takaful?
Takaful is a form of Islamic Insurance which observes the rules and regulations of the Islamic Law. Takaful originates from the Arabic word "kafalah" which means "guaranteeing each other" or "joint guarantee" This concept is based on the idea of mutual co-operation...
Conventional & Takaful Comparison
Conventional Insurance
Ownership by Shareholders
Risk Transfer to Insurer
Surplus belongs to Shareholders/Company
Investments are unrestricted...
Ownership by Shareholders
Risk Transfer to Insurer
Surplus belongs to Shareholders/Company
Investments are unrestricted...
Basis of the Takaful Contract
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...