Concept of Family Takaful

What is Takaful?

• The amount of donation that the Participants / Person Covered willingly relinquish

• A scheme based on brotherhood, solidarity, and mutual assistance

• A concept of mutual help among participants

• A transfer of ownership of an asset from a donor to a recipient without any consideration

What is Ta'awun?

• The amount of donation that the Participants / Person Covered willingly relinquish

• A scheme based on brotherhood, solidarity, and mutual assistance

• A concept of mutual help among participants

• A transfer of ownership of an asset from a donor to a recipient without any consideration

What is Tabarru'?

• The amount of donation that the Participants / Person Covered willingly relinquish

• A scheme based on brotherhood, solidarity, and mutual assistance

• A concept of mutual help among participants

• A transfer of ownership of an asset from a donor to a recipient without any consideration

What is Qard?

• The amount of donation that the Participants / Person Covered willingly relinquish

• A scheme based on brotherhood, solidarity, and mutual assistance

• A concept of mutual help among participants

• An interest-free loan provided by GETB’s Operator fund in the event of deficit in the Tabarru’ Fund

The Takaful fund belong to ...

• Agent

• Insurance Company

• Participant

• Takaful Operator

The profit is shared between ...

• Takaful Operator and Agent

• Participant and Agent

• Participant only

• Participant and Takaful Operator

Claim will be payable based on concept ...

• Ta'awun

• Wakalah

• Mudharabah

• Hibah

Paid contribution is treated as ...

• Takaful

• Ta'awun

• Tabarru'

• Mudharabah

The Indemnity is provided by the ...

• Hibah

• Underwriting Surplus

• Takaful Fund

• Takaful Operator

Takaful is risk ...

• Risk Tolerance

• Risk Management

• Risk Transfer

• Risk Sharing