Takaful (Hibah)

A voluntary gift under Islamic law where a participant designates beneficiaries to receive the takaful benefits directly upon their death, ensuring financial protection for loved ones in a Shariah-compliant manner.

Basic Coverage Of Your Takaful Protection

The basic coverage of a takaful plan typically includes life protection, where the participant's beneficiaries receive a payout in the event of death, as well as coverage for total and permanent disability (TPD).

In case of the participant's death or total disability, takaful ensures that the family or loved ones are not left financially burdened, as they will receive a payout to cover living expenses and other needs.

Unlike conventional insurance, takaful operates on the principles of mutual cooperation (ta'awun), risk-sharing, and ethical investments, making it an ideal choice for Muslims who seek to align their financial protection with Islamic law.

It offers reassurance that, in case of unforeseen events such as illness, disability, or death, the policyholder and their family will have access to financial support for medical care, recovery, and daily living expenses.

Without takaful protection, families may fall into debt or face financial hardship after a major life event. Takaful helps prevent this by providing a safety net that alleviates the burden on surviving family members.

Additional benefits

Rider

Waiver

A waiver in is an add-on benefit that covers your contributions if you face certain challenges, like critical illness, disability, or death, ensuring continuous coverage without the need for further contributions.

Cash Value

Maturity Benefits or Cash Value refer to a payout received when the policy term ends, while cash value is the accumulated amount participants can access during the policy term, based on investment returns.

Khairat Kematian

Khairat Kematian is a quick financial aid given to the family or next of kin when someone passes away. Its purpose is to help cover immediate expenses related to the funeral, burial, and any associated gatherings, easing the financial burden on the grieving family.

Multiple Benefits

An Increasing Death Benefit in takaful is a feature where the death benefit increases over time. This ensures that the coverage amount remains adequate as the cost of living rises, offering greater financial protection to the participant’s family.

Example of Takaful Hibah Plan (RM250,000)

male, age 30, office worker, non-smoker
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year (11 - 20)   -  RM275,000
    Year (21 - 30)  -  RM300,000
  • Waiver
    Yes, On Critical Illness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RM82.00
  • Death (Hibah) @ Basic Sum Covered
    -
  • Total Permanent Disability (TPD)
    -
  • Death / TPD
    RM250,000
  • Death Due to Accident
    -
  • Death While Performing Umrah/Hajj
    RM500,000
  • Increasing Death Benefits
    Year (11 - 20)   -  
    Year (21 - 30)  -  
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    RM2,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    20 Years
  • Monthly Contribution
    66.30
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    -
  • Death While Performing Umrah/Hajj
    -
  • Increasing Death Benefits
    Year (11 - 20) -
    Year (21 - 30) -  
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    -
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    30 Years
  • Monthly Contribution
    RM123.22

Example of Takaful Hibah Plan (RM250,000)

Female, age 30, office worker, non-smoker
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year (11 - 20)   -  RM275,000
    Year (21 - 30)  -  RM300,000
  • Waiver
    Yes, On Critical Illness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RM54.00
  • Death (Hibah) @ Basic Sum Covered
    -
  • Total Permanent Disability (TPD)
    -
  • Death / TPD
    RM250,000
  • Death Due to Accident
    -
  • Death While Performing Umrah/Hajj
    RM500,000
  • Increasing Death Benefits
    Year (11 - 20)   -  
    Year (21 - 30)  -  
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    RM2,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    20 Years
  • Monthly Contribution
    RM91.55
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    -
  • Death While Performing Umrah/Hajj
    -
  • Increasing Death Benefits
    Year (11 - 20) -
    Year (21 - 30) -  
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    -
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RM67.10

Example of Takaful Hibah Plan (RM250,000)

Female, age 30, office worker, non-smoker
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Illness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RM54
  • Death (Hibah) @ Basic Sum Covered
    -
  • Total Permanent Disability (TPD)
    -
  • Death / TPD
    RM250,000
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM500,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    RM2,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    30 Years
  • Monthly Contribution
    RM83.90
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx

Example of Takaful Hibah Plan (RM250,000)

  • Takaful Operator A
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx

Example of Takaful Hibah Plan (RM250,000)

  • Takaful Operator A
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx

Example of Takaful Hibah Plan (RM250,000)

  • Takaful Operator A
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx
  • Benefits
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx

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Example of Takaful Hibah Plan (RM250,000)

Female, age 30, office worker, non-smoker
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Illness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RM54
  • Death (Hibah) @ Basic Sum Covered
    -
  • Total Permanent Disability (TPD)
    -
  • Death / TPD
    RM250,000
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM500,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Illness
  • Khairat Kematian
    RM2,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    30 Years
  • Monthly Contribution
    RM83.90
  • Death (Hibah) @ Basic Sum Covered
    RM250,000
  • Total Permanent Disability (TPD)
    RM250,000
  • Death / TPD
    -
  • Death Due to Accident
    RM500,000
  • Death While Performing Umrah/Hajj
    RM750,000
  • Increasing Death Benefits
    Year 11 - 20   -  RM275,000
    Year 21 - 30  -  RM300,000
  • Waiver
    Yes, On Critical Ilness @ TPD
  • Khairat Kematian
    RM10,000
  • Cash Value
    Yes
  • Protection Period
    Until 60 Years Old
  • Contribution Period
    15 Years
  • Monthly Contribution
    RMxxx

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Contribution Factor

Age

Gender

Occupation

Smoke

Coverage Period

Contribution Period

Advantages engaging with iFAR

1. Broader Range of Options
iFARs can compare plans from multiple takaful providers, offering a wider selection tailored to the client’s unique needs rather than being limited to one company’s products.
2. Personalized and Objective Advice
iFARs provide advice based on the client’s financial goals and risk tolerance, giving more balanced, impartial recommendations.
3. Comprehensive Financial Planning
iFARs often have a background in overall financial planning, so they can integrate takaful into a larger financial strategy that includes savings, investments, and retirement planning.
4. Long-Term Relationship and Support
iFARs aim for ongoing relationships with clients, offering regular reviews and adjustments to ensure the takaful plan stays relevant as the client’s needs change over time.
5. Value-Added Services
Many iFARs provide additional services, like estate planning and tax optimization, which can be beneficial for clients seeking a holistic financial approach.

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