Takaful & Savings Programme
Products > Savings & Protection > Takaful & Savings Programme

Over the past few years, investors are increasingly attracted to Shari’ah compliant savings and investment plans due to more corporate governance, transparency, transparency, accountability, and the economic risk reward characteristics.

Under Shari’ah laws, investments in certain businesses like alcohol, tobacco, leisure and entertainment are banned. Furthermore, any securities with revenues from financial interest known as ‘riba’ are excluded. Hence, Shari’ah compliant funds have come to be associated with ethical investing.

Takaful & Savings programme, a Shari’ah compliant savings plan, designed to help customers to meet their much cherished financial goals in life like children education and retirement savings, with the added security of Takaful protection to secure the family’s future.

TAKAFUL

Takaful originates from the Arabic word Kafalah which means “guaranteeing each other” or “joint guarantee”. In principle, the Takaful system is based on mutual co-operation, responsibility, assurance, protection and assistance amongst the participants, as it is based on brotherhood.

*Salient Features

• Open to all UAE residents from ages 18 to 60 years
• Online approvals and printing of policy certificate
• Currency of program is UAE Dirhams
• Minimum contribution is Dhs 500 per month
• Minimum programme period is 7 years
• No upper limit on maximum plan period provided the age of the policyholder doesn’t exceed 70 years upon maturity (i.e. end of contract)
• Choice of monthly, quarterly, half yearly, and yearly contributions
• Choice of professionally managed Shari’ah compliant investment strategies
• Flexibility to decrease or increase regular contributions
• Possibility of additional lump sum contributions to the plan to increase your investment (without increase in Takaful benefits)
• Payment deferral of up to 12 months with Takaful benefits applicable
• Partial withdrawals are allowed
• Appointment of up to four beneficiaries is allowed at a time

*Subject to Terms and Conditions as specified in the Policy certificate and Policy Terms and Conditions. Pricing subject to change at any time.