Family Takaful plan is a financial program that pools efforts to help the members in times of need due to untimely death of principal members and other mishaps resulting in personal injury or disablement.

What gaps are Family Takaful Plans filling in the market?

Banks:
Family Takaful provides an alternative shariah compliant solution for Islamic banks and financial institutions that require mortgage protection and other facility guard policies that have been missing in the market.Therefore the banks and lenders are significantly exposed to huge risks emanating from lack of the above policies.With the very competitive TIA facility guard policy, banks will now securely lend without a huge exposure risk.

Corporates and Groups:
Many Corporates have been unable to provide Group Life policies to their employees and other members due to lack of a shariah compliant alternative.Through the TIA Group Family policy, members can enjoy death, disability, critical illness and last expense benefits comprehensively.

Education Policies:
While the general public has significantly enjoyed education policies for their loved ones and children over the last 3 decades through conventional insurance, the Islamic market has been disadvantaged through lack of a shariah compliant alternative. With the TIA Academic policy, a parent can choose to safe guard their child's education through monthly savings commensurate with their chosen benefits.

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