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Idikhkar Savings Plan

(approved by Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant)
Investing for Tomorrow!

Investments, Saving, Wealth Accumulation. That's all one hears across industries, across media, across events. And why is that?

We all know that saving for the future is a wise decision to make. Be it for a dream holiday, a car, our children's future or even for the almost inevitable retirement.

Achieving any goal requires commitment and discipline. Saving and investment is no exception. Your commitment to save regularly coupled with a smart investment strategy will help you meet all your financial goals. On top of this, you need the knowledge that you can get hold of your money in the event of an emergency.

At SALAMA, we understand what it takes for you to enjoy the combination of having Family Takaful protection and increasing the value of the money you invest. We will help you plan ahead and start preparing for your future rather than leaving things to chance.


The Benefits:

Family Takaful Cover: A built-in Benefit that provides a lump sum payment if the Covered Member passes away prior to the Option Date of the Plan.

Accidental Death: This optional Benefit provides a lump sum payment in addition to the Family Takaful Benefit if the death of a Covered Member arises as a result of an accident within 30 days of the event. If an Accident Death Benefit is paid, the Plan ends.

Permanent and Total Disability: This optional Benefit provides a lump sum payment if as a result of a sickness or an accident, the Covered Member becomes permanently and totally disabled, thus losing the ability to work and earn an income for a period of at least 6 consecutive months. If a Permanent and Total Disability claim is paid, the Family Takaful cover will be reduced by the amount paid.

Waiver of Contribution: As an alternative to Permanent and Total Disability (see above), this cover will pay the remaining Regular Contributions on behalf of the Plan Holder if as a result of sickness or accident, the Covered Member becomes permanently and totally disabled for a continuous period of at least 6 months and is usable to perform any occupation.

Critical Illness: This optional Benefit provides a lump sum payment if the Covered Member is diagnosed with a specified Critical Illness within the Plan term.

We cover eleven critical illnesses: cancer, coronary artery disease/bypass surgery, heart attack, kidney failure/renal failure, stroke, aortic graft surgery, blindness and loss of sight, heart valve replacement, major organ transplant, multiple sclerosis and paralysis.

If a Critical Illness claim is paid, the Family Takaful Cover will be reduced by the amount paid.

Terminal Illness: This optional Benefit pays a lump sum payment as an accelerated payment of the Family Takaful Benefit if the Covered Member is diagnosed as being terminally ill with a life expectancy of less than 6 months within the Plan term. If a Terminal Illness claim is paid, the Family Takaful cover will be reduced by the amount paid.


SALAMA - Idikhkar Savings Plan
   
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