Introduction:

In any activity of life there is a possibility that a desired event may fail to occur and that pecuniary(financial) loss may arise. In adventures by sea the ship may fail to make the port (remember Titanic!);or the cargo may be damaged or lost. In the adventure of life itself, the life may fail and death may occur, causing suffering to dependants. Death comes to all sooner or later, and it is the only truth in this world. The rest as they say is all maya (illusion). So if death is the only truth, then why do we ignore the implications of the event? Because of the nature of its permanence, and all pervasive; death requires understanding the financial implications on the dependents. Life insurance is therefore the most important of all forms of insurance. It’s significance pales the other forms of not just insurance but also all investment instruments.

The theory of insurance, in general terms, may be expressed to mean that the good fortune of the many compensates for the misfortune of the few. IT’s a tool to protect you and your family from personal risks exposures like repayment of debts after death, providing for a surviving spouse and children, fulfilling other economic goals leaving a charitable legacy, paying for funeral expenses.

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Product Name

Bank deposits

PPF/NSC Mutual fund stocks

Life insurance(pure term plan)risk cover: 250000

Returnsp.A

8% 8% 20%* 40%* nil

Total valueafter 1 yr.

10800 10800 12000 14000 nil

►*-returns not guaranteed, depends on share market movementsIn the above case, in case of death of the life assured, the nominee would get LE10800 throughthe bank deposit, PPF and NSC. The MF investment would give LE12000, and the stockinvestment would provide LE14000.However, life insurance would provide the entire sum guaranteed. i.e. LE250000.Thus, it is only through life insurance that a future financial or monetary estate can be createdduring the lifetime of the individual.

Example:Amount invested: Rs 10000 p.a.; age: 30 yrs

Concept of Life Insurance:You may wonder how an insurance company can settle a claim of LE 250000 on a single person’s death as in the above mentioned example, when all that the company received as premium from the person was LE 10,000. And what if there are many such small and big claims to be settled. How can the insurer manage all the losses he generates on each of these accounts? That’s right. But then that is where we need to understand the whole concept of life insurance.

Lets take an illustration:1) Village A:In a village(A) there are 100 houses. It has been observed over the last 10 years that each year at least 4 houses are gutted by fire. The cost of building a house is LE 50,000. The villagers whose houses get burnt find the cost of rebuilding it unaffordable. Also everyone fears that his house may get burnt next.What should the villagers do to ensure that no one faces extreme financial difficulty in case fire damages his house? Logic isn’t it: Pretty simple. The total loss is LE 200,000. The amount of LE 200,000 can be divided among the 100 houses and the contribution for each house would come to LE 2000.All the houses at risk will pay LE 2000 per year and this accumulated amount (LE 200,000) will be used to rebuild the 4 houses which are actually gutted.This will reduce the financial burden of the members whose houses do get gutted any year. Thus losses are shared.This is the concept of insurance.

Egyptian Life Takaful Company was established in 2006 as the

first joint Takaful Insurance Company registered under the Insurance Companies’ Registry

number 22 for 2007.

The company’s shareholders include the most prestigious

banks in Egypt with Gulf Insurance Company being the

major shareholder.

Egyptian Life Takaful Company is regulated by the Egyptian

Financial Supervisory Authority (EFSA) and a Shariah

Supervisory Committee.

At present time Egyptian Life Takaful Company, is only

operating in Egypt, however it has wide geographical

distribution nationwide.

About the company

Shareholders

I. Gulf Insurance Company K.S.C. (GIC) (59.5%)

II. Faisal Islamic Bank (8.25%)

III. Misr Iran Development Bank (8.25%)

IV. Banque Misr (8%)

V. National Bank Of Egypt (8%)

VI. Social Fund for Development (8%)

Egyptian Life Takaful Company is making every effort to be the company of choice in the Middle

East to its clients, shareholders and

employees.

We will introduce the finest sharia compliant insurance

products to the Egyptian market ensuring the peace of mind for our clients from the daily risks that threatens the

future of their families supported by highly admired

customer service.

We will also ensure that our shareholders are provided with

profitable growth and substantial return on capital. Egyptian Takaful

Life will provide its with an enviremployees onment where

they will be challenged, appreciated and respected.

Our promise is to be always with you whenever you need

and wherever you are. We put our clients, shareholders

and employees at the heart of everything we do.

Vision & Mission

The Egyptian Financial Supervisory Authority, (EFSA)

The Egyptian Financial Supervisory Authority, is a public Authority having a legal status, established in accordance to law 10 of year 2009.

EFSA is responsible for supervising and regulating non-banking financial markets and instruments, including the Capital Market and the Stock Exchange. In addition to all activities related to Insurance Services, Mortgages, Financial Leasing, Factoring and Securitization.

EFSA's role is to regulate the market and ensure its stability and competitiveness to attract more local and foreign investments,

The Shariah Supervisory Committee

The Shariah Supervisory Committee has specific responsibilities for monitoring the activities of any Takaful Company to ensure that they abide with Shariah principles.

Our Shariah board members are Dr. Ali Gomaa: Grand Mufti of Egypt.Dr. Nasr Farid Wasl: Former Grand Mufti of Egypt.Dr. Youssef Kassem: Professor at Al-Azhar University.

Dr. Youssef Kassem: Professor at Al-Azhar University.Their role includes reviewing all appropriate contracts and agreements relating to the group's transactions confirming compliance with Shariah principles.

Our Regulators

Products Overview

Individual Products

1``

Saving and Protection Plans

Prestige.

Guardian.

Omnia.

Dollar Prime.

Suk.

Protection Plans

Life First.

Aman

Corporate Plan

Employee Saving Plan.

Employee Group Live.

Credit Shield Plan.

a. What do you know about Life Insurance?

findings from the survey:

1-Insurance of unexpected risk .2-Financial compensation in the event of a partial disability or death .3- Pay premiums for a certain period and get the value of the insurance Policy when its goal achieved. 4-I do not know anything about insurance.

50%

30%

10%

10% 1234

b. Do you currently have Life Insurance, why?

1-No.Because insurance is prohibited.2-No. Because the insurance is welfare for me.3-No, I had not thought of before.

60%30%

10%

123

c. Do you have long term saving plans, why?

Yes. To face any future risks.Yes. To improve the standard of living.No. I do not need to save

60%

30%

10%

123

d. What are the difficulties facing the Life Insurance in Egypt?

1-Prohibition of religion to him. 2-Because insurance commodity entertainment for the Egyptians. 3-The lack of credibility of most companies.

70%

20%

10%

123

e. Suggestions to increase Life Insurance awareness?

1-increase announcements of insurance.2-Conferences and meetings and seminars.

60%

40%12

How to overcome the difficulties facing life insurance in Egypt ?

•Designing insurance policies for the youth to decrease the customers age .

•Increasing the advertising budget to increase the people awareness .

•Working on increasing people awareness of not conflict between insurance and

religious principles .

•Producing insurance policies suitable for various social classes .

Thanks for your Time&Hosting

Brought to you by:

Marco Wageh Zakary

life's a gift from God enjoy it and don't leave your dependants suffer after you go so get your life insurance

policy right now.