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Family Takaful

  • Adnan MalikEmail author
  • Karim Ullah
Chapter

Abstract

This chapter has focused on the different services that family takaful companies offer. These services can be divided into unit-linked family takaful and family-term takaful. Unit-linked family takaful pays compensation to beneficiaries if a participant dies or becomes disabled and has a saving element if a participant survives the coverage duration. Family-term takaful provides only death benefit. Basic cover can be expanded by adding appropriate supplementary clauses to the contract. In family takaful, supplementary clauses, such as accidental death and dismemberment (AD&D) or an annuity, can be added to the basic contract.

Keywords

Family takaful Family-term takaful Unit-linked family takaful 

Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Centre for Excellence in Islamic FinanceInstitute of Management SciencesPeshawarPakistan

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