Key Differences Between EFU Hemayah Family Takaful and Conventional Insurance
EFU Hemayah Family Takaful | Expert in Ethical Insurance: A Business Model
Takaful is akin to tahafuz, especially for families in case of the death of the breadwinner. Unlike conventional insurance, Takaful contributions go to a waqf fund, with portions allocated to investments. In conventional insurance, 90% of investments are placed in conventional banks, whereas Takaful funds are invested in sukuk bonds, mutual funds, or Shariah-compliant avenues, supervised by the Shariah Board.
EFU Hemayah Family Takaful | Claim Settlements and Surplus Distribution
All claims in Takaful are paid from the waqf pool. In conventional insurance, the surplus is considered company profit. However, in Takaful, the surplus is returned to participants after claim settlements. The Shariah board, including Muftis, permits the distribution of surplus to mitigate inflation effects.
EFU Hemayah Family Takaful | Protection Against Inflation
With rising inflation, securing your family’s future is crucial. Takaful ensures protection against financial instability. Unlike conventional policies, Takaful aligns with the needs of policyholders, considering economic shifts.
EFU Hemayah Family Takaful: Policy Features
Highly trained agents provide detailed policy explanations, offering a 15-day review period. Takaful policies align with a client’s financial capacity to prevent policy cancellations. Non-Muslims can also purchase Takaful policies.
EFU Hemayah Family Takaful | Investment and Transparency
Takaful funds are diversified to accommodate policyholders over five to ten years. Unlike conventional insurance, you can evaluate where EFU Hemayah Family Takaful invests funds via online reports.
EFU Hemayah Family Takaful | Affordability and Accessibility
Takaful is not expensive, with policy plans starting from as low as 18,000 per year, aligned with State Life Insurance rates.
Learn More
For more details, watch the YouTube channel explaining the differences between EFU Hemayah Family Takaful and conventional insurance.
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