What is Takaful ?

Takaful is a cooperative insurance mechanism based on the principles of solidarity and reciprocity. Every participant contributes to a fund to assist fellow participants to achieve their objectives. A scheme based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid in case of need. Our Shari ah Committee is composed of trusted names in the international Islamic banking and insurance sector and oversees the fund. It ensures that Islamic restrictions on interest, gambling, and uncertainty under Shariah Law are respected.


As a participant, you contribute to the Takaful fund which we manage and administer on your behalf. Your monthly or lump-sum contribution goes into a non-interest-bearing account, which is invested in carefully selected Shari ah compliant funds.

Your contributions will be used for the following purposes:

  • Wakalah and fund management fees.
  • Tabarru (Death and Disability Cover Contribution) assists fellow participants in times of need.
  • Retakaful contributions, to ensure fund stability and solvency in high claims periods.

Once all the Wakalah, policy fees and Tabarru have been catered for, the remaining contributions are used exclusively for investment purposes. They are invested into approved bonds (sukuks) or equity funds. The investment portfolio is reviewed on a regular basis by the Shariah Committee to ensure compliance with Islamic principles. Unlike investments in conventional capital markets, Shariah compliant investments have also shown greater stability in times of financial crisis, due to stricter regulations.

Two Takaful Unit-Linked Plan options:
Basic Cover

This product is a Takaful plan coupled with a savings element. The plan provides for a Death or Total Permanent Disability (TPD) cover (minimum cover Rs. 25,000). If one of the covered events occurs, the beneficiary will obtain the accumulated plan value and the sum assured.

Additional Death Cover

Under this option, the participant may opt for a higher sum assured than the minimum of Rs. 25,000. In the event of a covered claim, the beneficiary will obtain the accumulated plan value and the sum assured. The participant can further opt for a double Takaful benefit for Hajj or Umrah pilgrimage under this option.

  • Minimum monthly contribution of Rs. 1,000 or minimum single contribution of Rs. 100,000
  • Minimum entry age of 18
  • Unit value in the Participant Investment Fund paid at maturity or in the event of Death or Total/ Permanent Disability