Family Takaful Protection Plans and Coverage

1. What is the difference between the General Takaful plan and Family Takaful plan?

General Takaful usually provides a short term coverage for non-life risks for a specific event such as damages and losses to property, assets and liabilities for an individual. The Tabarru’ collected will be used to cover for the damages or losses.

Meanwhile, Family Takaful protects and provides coverage for life-related risks such as death, disability and critical illness. The Tabarru’ collected will be used to help and provide assistance to fellow takaful participant in need.

Both General and Family Takaful comply with Shariah principles.

2. Who is eligible for a family takaful protection plan?

Most of Great Eastern Takaful’s family takaful products are being offered to all age ranging from as young as 14 days attained age to a maximum entry age of 70 years age next birthday.

An adult can participate in a family takaful plan for him/herself or can also participate as the payor for their family member(s) to ensure everyone is adequately protected.

3. How long is the protection term for family takaful plans at Great Eastern Takaful?

The protection term for family takaful plans at Great Eastern Takaful varies by products and also flexible according to customers’ affordability and protection needs. Some of our products come with an auto-extension coverage features that provides coverage up until age 100 next birthday. For family takaful plans that focuses on savings and investment, the protection terms are mostly shorter for customers to enjoy the maturity benefit accumulated in their account (if any).

4. What are the features of the family takaful plan at Great Eastern Takaful?

Among the features that you can get with family takaful plan from Great Eastern Takaful, are:

a. Shariah Compliance: Family takaful plans adhere to Shariah principles, ensuring that all aspects comply with Islamic law. This includes avoiding interest (riba), uncertainty (gharar), and unethical investments such as alcohol, gambling, or speculative trading.

b. Coverage for Death and Disability: Our family takaful plans provide coverage in the event of the participant's death or disability. This coverage ensures that the participant's family or beneficiaries receive financial assistance to cover expenses in case of an unfortunate event.

c. Savings and Investment: Our family takaful plans include additional benefit of savings or investment component that allows participants to accumulate funds over time. These funds can be used for various purposes, such as education expenses, Badal Hajj, Waqf and other.

d. Optional Riders: Our family takaful plans often offer optional riders or additional benefits that participants can add to their coverage such as critical illness coverage, accidental and medical/hospitalisation expenses.

e. Waiver of Contribution: This ensures that future contributions are waived and will be payable from the Tabarru’ Fund in the event of the contributor’s death or disability. This feature provides financial relief to the participant or their family during difficult times.

5. Can I customise my family’s takaful plan coverage at Great Eastern Takaful?

Yes, you can customise your family’s takaful plan coverage. Our products come with arrays of attachable riders that cover different type of protection needs. You may add and/or remove necessary rider(s) for protection that suits your affordability as well.