Critical Illness Takaful

Abstract

The Critical Illness Takaful Rider is one of the products that has been launched since 2010. This plan is not a stand-alone product; it is part of other contracts or basic plans. Therefore, the policyholder must have a basic plan if interested in the Critical Illness Takaful Rider. Usually the policyholder is encouraged to buy this extra cover alongside the basic plan. The Critical Illness Takaful Rider is a protection plan for individuals. It gives financial protection against any critical illness listed in the plan for the term of the plan. The Critical Illness Takaful Rider is created to give protection against financial loss resulting from a policyholder’s critical illness. The policyholder can determine the duration or the term of the plan according to their preferences.

A significant contribution to this chapter/product has been made by the practices, experiences and thoughts of Bank Negara, Takaful Ikhlas, Takaful Malaysia, Takaful Nasional, Etiqa Takaful, IBFIM, IIUM, MII and others (Malaysia).