1) MOTOR TAKAFUL Motor Takaful covers you against loss or damage to your vehicle due to accidental fire, theft or accident. It also covers bodily injury or death of a third party as well as loss or damage of a third party’s property. Page 94 SEVERAL PRODUCTS FO GENERAL TAKAFUL OFFER BY TAKAFUL OPERATOR
TYPES OF COVER Page 95
TYPES OF COVER Page 96
Marine Takaful covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. Marine also includes Onshore and Offshore exposed property (container terminals, ports, oil platforms, pipelines) Hull, Marine Casualty and Marine Liability Page 97 2) MARINE TAKAFUL
BASIS COVER Page 98 01 02 03 04 05
Subject Matter of Takaful Page 99 Cargo and freight Legal liability arising out of collision Hull and machinery
Types of Certificates Page 100
3) FIRE TAKAFUL Page 101 This type of Takaful provides cover against loss of or damage to property caused by fire and other specified perils.
Page 102 EXTENDED PERIL
Buildings, to include out buildings such as walls, fences, garages. Plant and Machinery Stock and stock in trade Loss of Rent Furniture, Fixtures and Fittings Goods Held in Trust or Commission Professional Fees Removal of Debris Page 103 Property/Asset Can Be Covered under Fire Takaful
Page 104 Rating and Underwriting Criteria
Page 105 4) liability takaful
Page 106 4) liability takaful
Page 107 4) liability takaful
Page 108 5) Personal Accident Takaful Personal Accident (PA) Takaful is an annual plan that provides compensation in the event of death, disablement or injuries arising solely from an accidental cause. Participation in a PA Takaful can be for an individual or group plan for the family, company or any registered groups. PA Takaful is also available for short durations, like for travelling abroad to cover should any accident occurring during the travel.
Page 109 Basis Cover
Fidelity Guarantee can be offered to employers to cover infidelity of their employee(s) who hold positions of trust like handling cash, stocks, store-keeping. This certificate is designed to provide coverage against the risk of misappropriation or embezzlement committed by permanent and authorized employee(s) of the Participant during the course of their employment. 6) Fidelity Guarantee Page 110
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Fidelity bond is a form of takaful protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals that usually covers a business for losses caused by the dishonest acts of its employees. These takaful policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company to sustain a loss and obtain an improper financial benefit, either for themselves or another party. Page 112 7) Fidelity Bonds
BURGLARY FIRE GENERAL THEFT COMPUTER THEFT DISAPPEARANCE GENERAL THEFT Page 113 There are also many other coverage extensions available through the purchase of additional insuring agreements. These are common to most crime insurance policies :
Aviation Takaful is a coverage geared specifically to the operation of aircraft and the risks involved in aviation. Most aviation certificates are issued on an “all-risks” basis subject to certain restrictions. The participants of these certificates are the large commercial airlines, the corporate or business aircraft owners, private aircraft owners and flying clubs. Page 114 8) AVIATION TAKAFUL
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This class of Takaful comprises all the types of Takaful that do not fall within the Marine, Fire, Engineering and Motor classes. Page 117 9) Miscellaneous Accident Takaful
Family takaful provides you with both a protection policy and long term savings for your peace of mind. At the same time, you will enjoy an investment return because part of your contribution will be deposited in an account for the purpose of savings. Page 118 Types and scope of cover of family Takaful certificate 1) Family Takaful
Page 119 Types of Family Takaful 1.Ordinary family Individual family takaful Group family takaful 2. Retirement Annuity 3. Investment-linked Takaful
Page 120 2) Investment Linked Takaful An investment-linked takaful is a family takaful plan that combines investment and takaful cover. Types of coverage :
Child Education Takaful Plan (CETP) provides you with protection and long term savings to finance the higher education expenses of your child. The plan will provide your child with financial benefits if you suffer any set back covered under the plan. The plan also gives your child longterm savings (or education fund), that your child can use to continue his or her studies. Page 121 3) Child Education Takaful
Ordinary Child Education Takaful 1. You and your child will receive financial benefits arising from death or permanent disability, as well as long-term savings (education fund), and investment profits that are distributed upon claim, maturity or early surrender. Page 122 Types of Plans
Page 123 Types of Plans 2. Investment-linked Child Education Takaful A portion of your contribution is used to buy investment units, such as units in equity or fixed income securities. In addition to the ordinary takaful protection, which covers death and permanent disability, the investment units will be sold upon claim, maturity or early surrender.
Medical and health takaful gives you cover for the cost of private medical treatment, like hospitalisation, surgery and treatment, if you are diagnosed with certain illnesses or are involved in an accident. The cover acts as a stand-alone policy or can be added to a basic family takaful plan, providing better coverage and benefits from both policies. Page 124 4) Medical and Health Takaful
Page 125 Medical and health takaful products: Medicalexpenses takaful Hospitalizationcash benefit Critical illness takaful Disabilityincometakaful
WATCH THIS VIDEO !! Scan the QR code below to watch the video Page 126
E -L E A R N I N G G A M E S Page 127 UNJUMBLE game Student need to arrange the right answer within the clues given. Scan the QR code to play the game : mEMORY game Student need to match the answer depends on their memory, the word in this are the key word that they learn in topic 6 for Takaful subject.
TOPIC 7 COMPARISON BETWEEN CONVENTIONAL INSURANCE & TAKAFUL Page 128
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THANK YOU -Aliah Zulaikha-