Disadvantages Of Takaful Plan

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2.2 Types of Takaful Plan 2.2.1 General Takaful 2.2.1.1 Products under General Takaful 2.2.1.1.1 Motor Takaful Plan The unforeseen incident such as unexpected fire, theft, and accident which happened and caused the destruction of participant’s vehicle, third party injured or death, loss of property of third party will be covered by the motor takaful plan. Info insurance’s website claims that the money that participant contribute will assign into general takaful fund as a participative contribution (tabarru’). In order to participate in this takaful, he or she will consent an ‘aqad’ which is a form of contract. By undertake this contract, he or she is assuming agree to assist each other when any one of the members encounter unexpected incident which…show more content…
Participant may choose to join either one of the takaful or both takaful.
Info insurance’s website claims that a certain amount of money will be devote by a person to a fund of general takaful as the participative contribution (tabarru’) if he or she want to take part in Home Takaful Plan. In order to participate in this takaful, he or she will consent an ‘aqad’ which is a form of contract. By undertake this contract, he or she is assuming agree to assist each other when any one of the members encounters destruction of his or her house.
The surplus share in the general takaful fund will be given to participant at maturity for participant who did not make any claim during the takaful period. The surplus sharing concept will be used in allocation of the surplus share based on the pre-agreed ratio between takaful operator and participant. 2.2.1.1.3.1 Types of Cover Houseowners Takaful covers Section 1 and Section 2. Householders Takaful covers Section 2 and Section 3. Both Section 1, 2, and 3 are include in coverage of Houseowners Takaful and Householders Takaful. Section 1: Building The occur of unexpected incidents such as fire, explosion, damage of
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