Takaful Platinum Plus Plan is a distinctive saving and protection scheme providing ten years of coverage with contributions payable only for the first three years. The Plan offers distinctive Death Benefit Coverage. Maturity Benefits under this plan are based on the ten-year coverage period coupled with fund accumulation. Any declared bonuses under this plan will be based on the coverage period of 10 years and the Participant will continue to remain eligible for bonuses declared even after the contribution payment term of 3 years. The bonuses announced for a 10-year Takaful Endowment plan will be applicable for the Takaful Platinum Plus Plan with 50% higher bonus rates. This plan caters the needs of individuals who seek protection, savings, and investment under Shariah principles. The plan shall fulfill their future needs like financial necessities after retirement, children’s higher education and marriage, establish and expansion of business, purchase of land or renovation and construction of house and most importantly financial protection of a family in case of sudden death.
The Participants, on their discretion, shall determine the contribution and face value according to their monthly savings and future needs.
Upon the maturity of the membership, the Face Value and any declared bonuses will be paid from the Participant Reserve Endowment Fund (PREF), along with the Carrying Value of the Participant Investment Fund (PIF). Additionally, any declared surplus from the Participant Takaful Fund (PTF), if applicable, will also be payable.
The Participant can also opt to protect him / her by indexed regular contributions by selecting following option on compound basis:
Under this option, the gross Regular Contributions may be increased by 6% on every Membership Anniversary. However, the face value of the plan and face value of additional benefits (if any) at the time of membership issuance will remain same and will not be subject to indexation
The Plan also offers flexibility to the Participant by providing an option to invest additional funds available to enrich savings. These lump-sum contributions are termed Fund Acceleration Contributions and can be placed anytime while the membership is in-force. Units will be credited at 100% to the PIF after deduction of applicable charges against the Fund Acceleration Contributions received. The minimum contribution shall not be less than Rs.10,000/-.
