We have no control on the WILL of ALLAH. But we must continuously pray to seek HIS BLESSINGS, and be prepared to overcome the CHALLENGES that might occur. We need to PLAN ahead to mitigate the effects of CHANGE that may cause financial hardship to our beloved family. This would enable them some relief particularly in the event of DEATH resulting in loss of regular income. CHALLENGES that might occur. We need to PLAN ahead to mitigate the effects of CHANGE that may cause financial hardship to our beloved family. This would enable them some relief particularly in the event of DEATH resulting in loss of regular income.

Now you can be prepared by participating in our SALAMTI Takaful Scheme! The Plan provides you with both financial protection and savings growth in accordance with SHARIAH. It is an Investment-Linked Takaful Plan that allows you to invest in our managed SHARIAH investment funds, and participate in the protection benefit through a Waqf operated by the Company.  SALAMTI gives you peace of mind because your beloved ones are secured financially for the future.

Investment

You may decide your regular Contributions subject to minimum amount. These will be used to purchase investment Units in our managed SHARIA funds of your choice; Balanced Fund, or Income Fund.

You will have access to your funds including any profits which can be  redeemed either through partial withdrawal, surrender, in the event of claim, or survival at maturity.

The fund value may fluctuate based on underlying performance and not guaranteed.

Protection

The Waqf provides financial compensation in case of DEATH in consideration of your Tabarru’ (donation) to the Waqf fund, based on compensation desired.

The Tabarru’ payment is from your PIA fund through cancellation of investment Units.

You can enhance the benefit by attaching optional riders subject to additional payment of Tabarru’.

PRODUCT FEATURES

Basic Features Descriptions   Entry Age   18 – 55 years.   Minimum Contribution Mode Amount   Monthly   PKR 7,500   Quarterly   PKR 7,500   Semi Annual   PKR 7,500   Annually   PKR 12,500   Maximum Contribution   No Limit.   Term of Contribution   10 to 30 years.   Maturity Age   At the expiry of Term or at age 65 years, whichever earlier.   Minimum Sum Cover   PKR 100,000   Maximum Sum Cover   Contribution Term x Annual Contribution. (Subject to underwriting.)   Benefits on Death    Sum Cover    Net PIA value accumulated at the time of death.   Benefits at Maturity    Net PIA value accumulated at Maturity    Surplus from the Waqf Fund, if any   Free Look Period     Certificate can be cancelled within fourteen (14) days of issuance     and refund of Contribution subject to deduction of medical fees.   Contribution Re-direction    The choices of Investment Funds into which the Contributions are     invested can be changed at any time.    Changes to take effect from next Contribution payment.   Top Up Contribution    Additional investment into the PIA is allowed at any time.    Units allocated at Offer Price   Fund Switching    Units may be switched from one Fund to another at anytime.    The minimum value of Units that may be switched is PKR 20,000      or the entire Units holding in that Fund(s), whichever is lower.    One free switching per year, thereafter a fee of PKR 300.   Change in Contribution    Contribution can be changed subject to minimum amount.    Changes to take effect from next Certificate anniversary date.   Change in Sum Cover    Sum Cover can be changed subject to Minimum/Maximum limits.    Changes exceeding Non-Medical Limit subject to underwriting.    Changes to take effect from next Certificate anniversary date.   Fund Management Fee   1.50% per annum of Fund Value.   Partial Withdrawal (from PIA)    Partial withdrawal can be made at any time after two (2) years.    Minimum withdrawal at least PKR 10,000.    Minimum balance at least PKR 30,000 or 20% of prewithdrawal      value whichever is higher.    Withdrawal fee PKR 300.   Surrender of Certificate    Surrender can be made at any time.    The balance in PIA, if any, shall be payable    Surplus from Waqf, if any, shall be payable   Indexation (Optional)   Sum Cover can be increased annually by 5% to 15%   This option must be exercised at inception   Supplementary Riders   (Optional)    Accidental Death benefit (ADB)    Accidental Death & Disablement Benefit (ADDB)    Family Income Benefit (FIB)    Family Protection Benefit (FPB)    Waiver Of Contribution (WOC)    Critical Illness (CI)    Total & Permanent Disability (TPD)     Funeral Expense Benefit (FEB)