Takaful Products

Sisterhood
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TYPE OF PRODUCTS

The risk of financial loss is what takaful products are needed for. Risk is everywhere and everyone in society, business and life is affected by it. This loss indemnification is vital and pervasive for the functioning of businesses and economy when faced with the perils of risk.

Takaful is therefore the balancing mechanism for peace of mind and because of its pervasive role in the economy, takaful (and insurance) is vested with public interest. Our economic well-being is strongly affected by how well protected we are against the financial losses and ruin. This is why, takaful (and insurance) products and services must be well regulated, well managed and fairly priced to make it affordable for the consumer and sustainable for the provider of products and services.

 

The iPORTAL facilitates the user journey in finding out why takaful is important, what to look for in terms of protection and where to get it in the local regulated market.

 

The mutual risk pools of still growing and developing takaful companies may not be large enough to absorb risk shocks even when risk is shared with a Retakaful company. For this reason, a local takaful company may not able to provide some of the products available in the conventional space. In some cases Shariah compliant solutions can be found on Dharurah basis for a temporary conventional solution.

Family Takaful

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General Takaful

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