ﺍﻠﺳﻼﻡ ﻋﻟﻴﻜﻢ ﻮﺮﺤﻤﺔ ﺍﻠﻠﮫ FINANCIAL PLANNING 2005 “U$iN $eN$e” ‘YOUR TAKAFUL FINANCIAL PLAN’ By

ﺍﻠﺳﻼﻡ ﻋﻟﻴﻜﻢ ﻮﺮﺤﻤﺔ ﺍﻠﻠﮫ FINANCIAL PLANNING 2005 “U$iN $eN$e” ‘YOUR TAKAFUL FINANCIAL PLAN’ By Zamrin Hj Abd Ghani Asst. Marketing Manager, Insurans Islam TAIB

FAQ What is Takaful? Why do we need it? How does it work for me?

WHAT IS TAKAFUL? Is an Arabic word which means ‘Joint Guarantee’ It is an act where a group of people reciprocally guarantees each other, against losses or damages caused by any catastrophe or disaster whereby the needy will be given financial compensation

TAKAFUL CONCEPT The main concept of Takaful is to provide Insurance services in conformity with Syariah and based on The Islamic Principles of Al-Takaful, Tabarru’ and Al-Mudharabah

Individuals planning to save money for their: Future To provide Financial Security for their Beneficiaries or Family in the event of untimely Death. What should be your ‘Takaful Financial Plan’

To provide TAKAFUL BENEFITS in the form of Monetary Value should the individual suffers from untimely Death or Permanent Disablement as a result of Accident or Illnesses. Objectives of the Takaful Plan

To create a manageable long term fixed plan in the form of REGULAR SAVINGS with the view of creating a Retirement or Long Term Contingency fund Or Any Other Life Goals Fund

As anINVESTMENTprogramme, in conformity to Syariah approved investment, that could grow into a Long term fund for the Individual or his Beneficiaries.

‘Your Takaful Plan’ • The period of participation for the PLAN will depend on the age of the participants, where the final payment of the takaful contribution will end once the participant reach the age of 65 years old. • Maturity Period i. 10 yrs ii. 15 yrs iii. 20 yrs iv. 25 yrs v. 30 yrs vi. 35 yrs vii. 40 yrs

Illustration Age on next birthday : 20 years Term participated : 20 years Contribution : B$1,200.00 per annum Tabarru’ Rate : 5.5% p.a =B$66.00 p.a.

Tabarru’ • Is a Voluntary contribution or a means to provide Sincere Help • Whereby the participants/donors contribute a certain % of the whole contribution being paid as a return for participating in the Plans or Takaful Schemes • This is with the intention to use the money to help other participants who suffered losses.

FLOW CHART ILLUSTRATING THE MANAGEMENT OF TAKAFUL PLANS Takaful Contribution $1,200.00 Participant Account (PA) $1,134.00 Total Family Takaful Fund $1,200.00 Investment Profit $100.00 IITSB $30.00 Takaful Contract Based On Al-Mudharabah Participant Special Account (PSA) $66.00 Participant $70.00

Takaful Contribution $1,200.00 Participant Account (PA) $1,134.00 A large proportion of the takaful contribution paid will be credited into the Participants Account (AP) as the Participant Savings. Participant Special Account (PSA) $66.00 The remaining balance will be credited into the Participants Special Account (AKP) as Tabarru’ (donation) according to their individual specific rate, for the purpose of joint guarantee and cooperation among all participants, as embodied in the concept of Al-Takaful.

ILLUSTRATION OF SAVINGS

ILLUSTRATION OF TAKAFUL BENEFITS Note : After two (2) years of participation

‘Your Takaful Plan’ • Basic Cover for - Death - Permanent Disablement • Additional Cover for - Personal Accident - Hospital Benefit - Family Rider - Critical Illness and others

ﻮﺍﻟﺳﻼﻢ We hope you found this presentation informative and useful in making the right financial decision zamrin.ghani@insuranstaib.com.bn Tel No. 2237718, 223 7724/25

ﺍﻠﺳﻼﻡ ﻋﻟﻴﻜﻢ ﻮﺮﺤﻤﺔ ﺍﻠﻠﮫ FINANCIAL PLANNING 2005 “U$iN $eN$e” ‘YOUR TAKAFUL FINANCIAL PLAN’ By