1. Family Takaful
General Takaful Company
Insurance with an Islamic Vision
10/27/2013
Family Takaful Department
contact+974 44339775 -771- 776 -782
www.g-takaful.net
1

2. What is TAKAFUL ?
•
•
•
Takaful, an Arabic word meaning "guaranteeing each other", is the same as
insurance but approved under Islamic jurisprudence or Sharia guidelines. It
represents the concept of insurance based on mutual co-operation and
solidarity of people by participating in a takaful scheme. What is uncertainty
and risk?
Why was there a need to develop takaful ? This is because traditional
insurance has certain features that contradict some of the essential values of
an Islamic financial contract. This should be seen in the context of the fact that
Muslims are directed by their faith to follow a path of righteousness in going
through the activities of their daily lives.
A takaful company does not have policyholders. It has Contributors or
Participants as they are participating jointly in a takaful fund for their mutual
benefit. They are owners of the fund and the Company manages and operates
takaful fund on their behalf.
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
2

3. How Family Takaful Functions
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
3

4. Group Life
• Life cannot be insured but the beneficiaries
can be financially supported by a system of
mutual assistance.
• It is an Islamic alternative to conventional life
insurance
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
4

5. Benefits of Group Takaful
1)
2)
3)
4)
5)
6)
7)
Death due to any cause
Accidental Death Benefit
Permanent Total Disability- accident & sickness
Permanent Partial Disability-accident & sickness
Temporary Total Disability – accident & sickness
Repatriation
Accidental Medical Expenses
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
5

6. 1) Death Due to any cause
The Sum insured becomes payable in the event of the insured
members death, prior to the Age of 65.
2) Accidental Death Benefit
If the death happens by accident, the company shall pay
double the sum assured
3) Permanent Total Disability
If due to accident or sickness the medical report states
insured is unable to work anymore, the amount equivalent
to death benefit shall be paid.
4) Permanent Partial Disability
If due to accident or sickness the insured suffers loss by
physical separation, or the total loss of any limb or organ,
the company shall pay according to the continental scale.
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
6

7. 5) Temporary Total Disability
If the insured suffered from accident or sickness preventing him
from working the company shall pay his weekly salary.
6) Accidental Medical Expenses
If medical attention or treatment is required as a result of an
accident the company shall pay all reasonable and customary
charges
7) Repatriation
The company shall pay the expenses incurred to sent the mortal
remains of the insured to his home country following death.
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
7

8. Policy Exclusions
• Accidental Death Benefit and Disablement due to accident or sickness are
subject to following exclusions
• Attempted suicide or self inflicted injury
• Under the influence of alcohol or drugs
• Participation or training for any dangerous or hazardous sport or
competition.
• Breach of law or assault provoked by the insured.
• Injury caused by Nuclear fission, fusion or radioactive contamination.
• Pregnancy abortion or childbirth.
• Blood transfusion and AIDS
• Any Bodily injury or sickness the insured staff member was suffering from
at the commencement of this insurance policy
10/27/2013
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
8

9. Thank you for your time
The Family Takaful Team
Mr. Tarig Abdul El Aziz
Mr. Mohammed Al Abed
Mr. Saif Nafea
Miss. Reem Deaibes
Mr. Shermil Abdul Latheef
10/27/2013
Manager Family Takaful Department
Underwriting
Marketing & Business Development
Marketing & Business Development
Marketing, Family Takaful
tarig@g-takaful.net
malabed@g-takaful.net
saif@g-takaful.net
reem@g-takaful.net
Shermil@g-takaful.net
Family Takaful Department - contact+974
44339775-771-776-782 / www.gtakaful.net
9