Introduction

This group Takaful plan is designed to provide coverage to pay off outstanding loan amount owing to any institution in the event of the participant’s death (who is the borrower, or if the participant becomes totally and permanently disabled (TPD).

What does IKHLAS Group Islamic Cashline Takaful cover?

It is a term Takaful plan for a group of participants of a financial institution (Grantee), with different types of contribution payment methods. Typical plan designs may include the following :
• Single Contribution
• Annual Contribution

This plan covers :-

• Death Benefit – in the event of death of the participant within the term of the certificate, the Sum Covered (SC) plus the balance in the participant’s Personal Risk Investment Account (PRIA) will be payable, in one lump sum, to the Grantee.

• TPD Benefit – in the event of TPD of the participant within the term of the certificate, the SC plus the balance in the PRIA will be payable in 1 lump sum, to the Grantee.