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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%
Maturity Benefit at 10%
Maturity Benefit at 12%
Death Benefit at 08%
Death Benefit at 10%
Death Benefit at 12%
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
111 DFT (338) [email protected] www.dawoodtakaful.com
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
111 DFT (338) [email protected] www.dawoodtakaful.com
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
••
•••
Income Fund, Balanced Fund, Aggressive Fund
*Fund switching is available
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