Plan 05: Five-Stage Takaful Plan (With Profit)

Introduction

The Five-Stage Takaful Plan is a premium financial solution designed to provide frequent liquidity alongside long-term security. Unlike traditional plans, this scheme offers early and regular returns on your Contributions, allowing you to reinvest or utilize partial payments to fulfill your evolving life goals. It is a perfect blend of high-value protection and periodic cash inflows, managed according to Shariah principles.

Main Features

  • Frequent Cash Inflows: Ensures regular liquidity through five distinct payment stages during the term.
  • Flexible Terms: Participants can choose a policy term of 10, 15, 20, 25, or 30 years.
  • Payment Frequency: Contributions can be paid annually, half-yearly, or quarterly.
  • Paid-up/Surrender Facility: The policy acquires a surrender value after two years of full contributions are paid.
  • Shariah-Compliant Loan: Participants may obtain a loan of up to 90% of the surrender value against their PIF
  • Tax Efficiency: Contributions are eligible for income tax rebates, and all Takaful Benefit payouts are tax-free.

Benefit Structure

1. Survival Benefits (The Five Stages)

The Face Value (FV) is returned to the participant in five installments at specific intervals:

  1. Stage 1: At the end of one-fifth (1/5) of the term, receive 10% of the Face Value.
  2. Stage 2: At the end of two-fifths (2/5) of the term, receive 15% of the Face Value.
  3. Stage 3: At the end of three-fifths (3/5) of the term, receive 20% of the Face Value.
  4. Stage 4: At the end of four-fifths (4/5) of the term, receive 25% of the Face Value.
  5. Stage 5 (Maturity): At the end of the full term, receive the remaining 30% of the Face Value plus all Accrued Profits/Bonuses.

2. Death Benefit (Comprehensive Protection)

In the event of the Takaful Participant’s death during the term:

  • The nominee receives the Full Face Value (100%) plus any applicable Ezafi (Rider)
  • All Accrued Profits up to the date of death are also paid.
  • Crucial Takaful Rule: Any survival benefits already paid to the participant during their lifetime are not deducted from the final death claim. The family receives the full protection amount from the PTF.

Why This Plan Stands Out?

The Five-Stage Takaful Plan is ideal for those who value Liquidity and Frequent Returns. Whether it is for children’s education milestones, home improvements, or business expansion, this plan provides the necessary funds at five different stages of your life, all while keeping your family 100% protected through a Shariah-compliant mutual aid system.