Takaful Presentation

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Dawood Family Takaful Ltd.

Transcript of Takaful Presentation

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Dawood Family Takaful Ltd.

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Dawood Family Takaful LtdDawood Family Takaful Ltd (DFTL) is amongst pioneers in the

field of Family Takaful business in Pakistan. Family Takaful (or Islamic Life Insurance) is a new field, recently introduced by Securities & Exchange Commission of Pakistan.  At “DFTL” we have a vision to aspire to be the preferred provider of Islamic financial protection services.

We aim to provide these services based on Islamic values.  We strive to help our valued customers/partners by establishing a savings and protection funds in a view to comfort their loved ones.  The pro-active measure ensures them security and certainty as it provides monetary relief in the event of a misfortune, further it creates a habit of saving amongst one customer/ partners.  This, we believe, underlines the importance of our mission.

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Vision and missionVision   The Company will strive to become the

Takaful partner of choice in Pakistan catering to the financial protection, long term savings, retirement and financial planning needs of individuals, businesses, and the public sector, in full conformity with Sharia principles.

  Mission Statement   To be recognized as a reputable, profitable, Sharia driven Family Takaful operator offering innovative financial solutions to its clients through best in class talent, technology and distribution power.

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Shariah Supervisory BoardThe Shari'ah Advisors consist of eminent

Islamic economic and financial scholars. The Shari'ah Advisors will advise the management company on matters relating to Shari'ah Compliance and recommend general investment guidelines, consistent with the Shari'ah. Any verdict issued by the Shari'ah Advisors in relation to any Shari'ah related matter would be final and acceptable by the Trustee, the management company and other parties related with the matter.

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Shari'ah Advisory BoardProfessor Mufti Munib ur Rehman

(Chairman) Mufti Syed Sabir Hussain (Member) Mufti Syed Zahid Siraj

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SPONSORSFirst Dawood Group         First Dawood Group ("FDG") represents a branch of the reputable

Dawood family, which is one of the well known business groups in Pakistan. FDG has the experience of operating financial institutions namely Dawood Islamic Bank Limited, B.R.R. Guardian Modaraba, First Dawood Investment Bank Ltd and Dawood Capital Management Limited (manager of Dawood Money Market Fund, First Dawood Mutual Fund and Dawood Islamic Fund). FDG is further diversifying its operations through joint venture arrangements by setting up Wind Power generation project. The increasing presence of the group in the financial sector is likely to strengthen its franchise value and provide synergetic benefits. The Chairman of FDG, Mr. Rafique Dawood, is an MBA from Harvard Business School and has had extensive exposure to business, having held senior management positions with various family concerns both in Pakistan and abroad.

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OTHER MAJOR SHAREHOLDERSBank of Khyber Gulf Cap (Dubai)Habib Metropolitan Bank LimitedAllied Bank LimitedDawood Equities Limited WE Financial Services Limited

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Products of takafulIndividual Family TakafulSukoon     ENDOWMENT FOR

RETIREMENTSalamti     FINANCIAL PROTECTION &

SAVINGS GROWTHSamar     CHILD EDUCATION and

MARRIAGE PLANSTART SAVING TODAY FOR A SECURE TOMORROW

Bancatakaful Kafeel   Family Takaful Plan   Secure your future without compromising

your faith

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Group Family TakafulGroup Term Takaful SchemeGroup Credit Takaful  SchemeGroup Personal Accident  Scheme

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Individual Family TakafulIn view to remain competative, we shall

continue to introduce innovative and market based customer-centric Family Takaful products, catering to both groups and individuals that would feature distinctly from other protection plans available in the market. . Each product may be extended to include supplementary benefits which are optional:

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Sukoon ENDOWMENT FOR RETIREMENTPlan your retirement days with Sukoon, a plan

that gives you the benefits of financial protection to address  your future requirements and fulfills your desire to grow savings in accordance with shariah principles. Sukoon has a unique competitive edge in terms of contribution paying term for a period of 10 or 15 years  and get the coverage till maturity at the age of 60 or 65. Sukoon provides endowment benefit at retirement, or in case of earlier Death pays such benefits to your dependants.

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Salamti FINANCIAL PROTECTION & SAVINGS GROWTHChange is the essence of Life. Some changes

make your life colorful but sometimes a change can be quite challenging. Now you can prepare yourself for change by participating in our Salamti Takaful plan which provides you with both Financial protection & savings growth in accordance with Shariah. You can choose any term of payment from 10 to 30 years up to maximum maturity age of 65 years. Salamti gives you peace of mind because your beloved ones are secured financially for the future.

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Samar     CHILD EDUCATION and MARRIAGE PLANSTART SAVING TODAY FOR A SECURE TOMORROWSamar is a unique Shariah Compliant plan

which accumulates funds for your child’s Education / Marriage and at the same time provides your family the protection in case of an unforeseen event.It has 3 inbuilt features of Family Income benefit, Plan continuation benefit & Accidental death benefit.

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Secure your future without compromising your faithWe understand that the security and well being of your

loved ones is your top priority. Keeping your comfort in mind, Dawood Family Takaful Limited (DFTL) has tied up with RBS Islamic Division to bring to you a specialized plan that helps you today for your tomorrow. It protects your future against any unforeseen events like death, disease or disability that may befall upon you or your family, while safeguarding your faith at the same time."

“Kafeel”- Family Takaful Plan is a Shariah Compliant protection and Investment Plan that allows you to accumulate your savings for the future and ensures that funds are available for you and your family whenever needed.

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Supplementary Benefits (Optional)Accidental Death and Disablement  benefit

(ADDB) Total Permanent Disablement  (TPD) Waiver of Contribution (WOC) Critical Illness (CI) Family Income Benefit  (FIB) Family Protection Benefit  (FPB) Funeral Expense Benefit (FEB) Accidental Death Benefit (ADB) Additional Takaful Benefit (ATB)

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Group Family TakafulIn view to remain competitive, we shall

continue to introduce innovative and market based customer-centric Family Takaful products, catering to both groups and individuals that would feature distinctly from other protection plans available in the market. Initially there are three basic products available for group participation. Each product may be extended to include supplementary benefits which are optional:

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Group Term Takaful SchemeThis cover is normally taken by an employer

for the protection of its employees, or by an organization for the benefit of its members in the event of death. The amount of sum covered per person is determined either according to agreed categories of employment/membership, or may be level across the board.

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Group Credit Takaful SchemeThis cover protects financial institution on

the facilities provided to its customer. In the event of death or disability of a customer, the financial institution will be indemnified on the amount of outstanding balance (including profit) without the hassle of recovery from the deceased family.

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Group Personal Accident SchemeThis product has been developed to provide

economical coverage to participants. Under this cover if any person covered dies due to accidental means within ninety (90) days of such accident and sustained injuries are solely and independently caused by external, violent and purely accidental means, compensation will be paid to the Participant for benefit of his/her beneficiries.

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Supplementary Benefits (Optional)Accidental Death Benefit Accidental Disability Benefits   - Permanent partial Disability   - Permanent Total Disability   - Temporary Total Disability Natural

Disability Benefit Accidental Hospitalization Benefit

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Family Takaful Coverage as on 30 September 2011

Particulars Amount in Rupees

No. of Life Covered 35,322Total Life Sum Cover 14,182,767,784Average Per Life Sum

Cover Over 400,000

Total Accidental Sum Cover 12,803,142,000

Average Per Life Sum Cover 362,000

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Group Claims RequirementsGroup Claims Requirements Death claims: Death Claim form Last Attending Physician’s Statement Employer’s Statement. Attested photo-copy of “Certificate of Death” issued by Local

Body/ NADRA or Hospital. If the death caused due to the Accident, Suicide or Homicide,

the following additional documents should be submitted to DFTL: (a) Attested photo- copy of FIR or Police Report containing full details as to how when and where the incident took place OR/AND (b) Original or attested photo copy of Postmortem Report.>

Attested photo-copy of the CNIC of Person Covered Any other document required by DFTL.

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Accidental DisabilityClaims Forms Accidental Claim Form:

Ensure that all the required information provided and signed by the employer/ authorized officer

Attending Surgeon’s StatementThis form is to be filled-in by last attending physician / surgeon/ clinic/ Hospital where Person Covered was treated

Employee StatementThis form to be filled-in by the covered person/employee himself. Please mention date, place, time and circumstances under which accident happened with name of witnesses.

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Natural DisabilityClaims Forms Natural Disability Claim Form:

Ensure that all the required information is provided and it is signed by the employer/ authorized officer

Attending Surgeon’s StatementThis form is to be filled-in by last attending Physician / Clinic / Hospital of the employee

Employee StatementThis form is to be filled-in by employee himself

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Individual Claim RequirementsUnder Individual Family Takaful Certificates

depending upon the nature of claim (Death, Disability or Critical Illness) following person should fill and sign the Claim Form:-

Death Claim:- Nominee, Assignee or Guardian (if nominee is minor).

Disability Claim:- Participant. Critical Illness:- Participant. Under Death Claims only, if more than one

nominees have been named, fill separate forms by each nominee.