Sukoon Takaful Plan R11 web - Dawood Family Takaful Limited...INVESTMENT LINKED & MATURITY GUARANTEED TAKAFUL PLAN Sukoon You may choose the certiﬁcate term up to the age of 60,

Shandaar

Sehal

SukoonSilah

SalarySaving

SahulatSaada Sahara

Samar

Salamti

INVESTMENT LINKED & MATURITY GUARANTEED TAKAFUL PLAN

Sukoon

What is Takaful?

Takaful is an Islamic Insurance concept which is grounded in Islamic muamalat, observing the rules and regulations of Islamic law.

Takaful is basically a system of Islamic insurance based on the principle of Ta’awun (mutual assistance) and Tabarru (voluntary

contribution), where the risk is shared collectively by the group” The word Takaful is derived from the Arabic verb Kafala,

which means to guarantee; to take care of one’s needs.

Difference between Takaful and Conventional Insurance:

In conventional insurance, risk is transferred from one party to another. By taking out an insurance

policy, an individual essentially is asking the insurance company to accept the complete

risk in exchange for accepting an ongoing premium from the insured.

But with takaful, the risk is shared among the members of the fund: If an event

occurs that causes harm or damage to one member, all members bear the

brunt of that event and contribute to overcoming it.

Takaful members cooperate based on equality, solidarity,

social responsibility, and honesty.

Dawood Family Takaful Ltd.

Dawood Family Takaful ("DFT") was incorporated in Pakistan as an unquoted public interest company on 4th May 2007 under the Companies Ordinance, 1984. DFT is amongst pioneers in the field of Family Takaful business in Pakistan. At “DFT” we have a vision to aspire to be the preferred provider of Islamic financial protection services. As a member of First Dawood Group of Companies, Dawood Family Takaful is strongly capitalized to ensure our ability to timely meet the promises to our customers, and to offer assurance of reliability to our business partners.

About

INVESTMENT LINKED & MATURITY GUARANTEED TAKAFUL PLAN

Sukoon

You may choose the certificate term up to the

age of 60, 65, 70 or75 years of age with 10, 15

or 20 years of contribution

term.

Limited Payment

Term

5% of the Basic Contribution from 11th Year, subject to receipt

of the respective Contribution during

the year it falls due.

Loyalty Reward

Accumulated PIA Value, PLUS

Reserve from Waqf, if any, PLUS

Surplus from Waqf, if any

Surrender of Certificate

Sum Cover, PLUSAccumulated PIA

Value, PLUSSurplus from Waqf,

if any

MaturityBenefit

You may ask for partial withdrawal

from your PIA Value, subject to minimum

residual balance.

Partial Withdrawal

Sum Cover, PLUSAccumulated PIA Value,

PLUSSurplus from Waqf, if

any

DeathBenefit

Participant can annuitize the maturity proceeds in the form

of annuity.

Annuity Option

Maturity BenefitMaturity benefit will be payable on completion of the certificate term.

Death BenefitDeath benefit will be payable on death (God Forbid) of the participant during the certificate term.

Partial/Withdrawal of CertificateYou may Surrender or Partial Withdraw from accumulated PIA Value at any time after payment of 2nd years contribution in full & Waqf fund related benefits (if any) will be payable after payment of 4th years contribution in full.

PLAN BENEFITS & KEY FEATURES

Loyalty RewardLoyalty Rewards will be allocated only to those participants who have paid all the due contributions during that year, it falls due.

Sukoon Takaful Plan

Minimum Contribution

Features of Sukoon Plan at a Glance

Sum Cover Limits

Investment Linked & Maturity Guaranteed Takaful Plan

Sukoon Plan is best suited for the participant’s who desire to grow savings, plan retirement and get financial protection in accordance with the Shariah principles.This is a limited payment term plan under which you can continue your certificate till maturity age of 60, 65, 70 or 75 years of age by selecting limited contribution payment term of 10, 15 or 20 years at inception. This plan guarantees sum cover amount to be paid at maturity.

Quarterly 7,500Monthly 7,500

Yearly 12,500Half Yearly 7,500

Minimum

Maximum

5 times annual contribution OR PKR 100,000.

Cover Multiple times annual contribution.

Entry Age 18 - 65 years

Contribution Term 10, 15 or 20 years

Maturity Age 60, 65, 70 or 75 years

111 DFT (338) [email protected] www.dawoodtakaful.com

Projection of Benefits

Optional Supplementary RidersBelow mentioned and any newly introduced rider can be attached to your investment plan, including the following:

Entry Age

Annual Contribution (Rs.)

Sum Cover (Rs.)

Certificate Term

Contribution Payment Term

Maturity at Age

Maturity Benefit at 08%



Death Benefit at 08%



35 Years

100,000

1 Million

25 Years

20 Years

60 Years

4.5 Million

6 Million

8 Million

4.5 Million

6 Million

8 Million

Accidental Death Benefit (ADB)Accidental Death / Disability Benefit (ADDB)Critical Illness Benefit (CI)Funeral Expense Benefit (FEB)Family Income Benefit (FIB)Family Protection Benefit (FPB)Total Permanent Disablement (TPD)Waiver of Contribution (WOC)Additional Takaful Benefit (ATB)Hospitalization Cash Rider (HCR)Shareek e Zindagi Rider (SZR)

Sukoon Takaful PlanInvestment Linked & Maturity Guaranteed Takaful Plan


Investment RiskInvestment risk shall be borne by the participants; actual maturity/ withdrawal values may be higher or lower than the projected figures, depending on the performance of the underlying investment in the participant’s investment fund. Past performance of the fund is indicative and not necessarily a guide or a guarantee of future performance.

Investment Management Fee (Wakala Tharawat Fee)1.5% per annum of PIA Value

Partial Withdrawal FeePKR 300/- per withdrawal

Free Look PeriodCertificate can be cancelled within 14 days of issuance and refund of contribution subject to deduction of medical fee, if any.

Sukoon Takaful PlanInvestment Linked & Maturity Guaranteed Takaful Plan


UNIVERSAL FEATURES

Disclaimer:This brochure is an outline summary of the “SUKOON PLAN”. Please read carefully and understand the basic features of the Takaful Benefit(s) and particularly with the risks related to your choice of investments. Before deciding to participate you should discuss with our Takaful Consultant for best advice.

The contents herein are the intellectual rights of Dawood Family Takaful Limited. In the event of discrepancy, ambiguity and conflict in the interpreting any information, terms or conditions in the brochure, the Participant Membership Documents shall prevail and supersede. Publication or duplication is strictly prohibited.

Waqf SurplusSurplus in the Waqf fund, if any will be distributed among the participants based on approved mechanism.

Shariah Board MembersMufti Munib-Ur-Rehman - ChiarmanMufti Syed Sabir Hussain - MemberMufti Syed Zahid Siraj - Member

Top-Up ContributionAdditional Investment into the PIA is allowed at any time

Shariah Compliant

Tax CreditYou can avail Tax Credit up to 20% of your taxable income by participating in any of the family takaful plan offered by the Dawood Family Takaful.

Investment OptionsParticipant can allocate the PIA amount in these Shariahmanaged funds,

Riba Free Investment GrowthShariah Compliant Financial Protection

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•••

Income Fund, Balanced Fund, Aggressive Fund

*Fund switching is available

[email protected]

1701-A, Saima Trade Towers,I.I. Chundrigar Road, Karachi

�

(+9221) 32277188�

For more Information SMS: 8144�

(021) 111 DFT(338) 786

www.dawoodtakaful.com

DawoodFamilyTakafulOfficial