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We take decisions every day which affect our future, and in turn our dreams. To secure these dreams, Faysal Bank Limited, through a distribution agreement with- with Pak-Qatar Family Takaful Limited offers you Takaful Save and Protect Plan; a low contribution high coverage Shariah compliant product, structured to help you conveniently build your long-term savings and ensure that your family is protected against any unforeseen event.
Takaful Save and Protect Plan comes with a built-in basic Takaful Benefit that allows the beneficiaries to receive the fund in case of death of the Participant (Membership Holder) during the tenure of the plan. The beneficiaries are paid the higher of: Sum Covered (Annual Contribution x Membership Term) OR Cash Value (Value of total invested contributions at the time)
At maturity, the Participant (Membership Holder) will receive the cash value in his / her investment account.
* Terms and Conditions apply
Growth – Involves Investment in selected Islamic stock portfolio, Sukuk (Islamic bonds) and Islamic Mutual Funds (Suitable for customers with a high risk appetite seeking a higher return on their Investments)
Conservative – Involves investment in Islamic deposits. (Suitable for customers with a medium risk appetite seeking a competitive return on their investments)
You also have the freedom of switching between the above-mentioned investments strategies free for four times in a year.
A free look period of 14 days is offered by Pak Qatar Family Takaful Limited during which you can review your policy terms and conditions and cancel the policy if needed. Your contribution will be refunded on receipt of a written request within 14 days from the date of the receipt of the policy document (Participant Takaful Fund Conditions apply). Please note that Pak Qatar Family Takaful Limited reserves the right to deduct the expenses incurred on medical examination.
Takaful, which means ‘to look after each other’, observes the rules and regulations of Islamic Law (Shari’ah). Takaful Saving Plan has been developed in line with Shariah (Islamic) principles.
As a Takaful policy holder, you are eligible to receive a share of any declared surplus from the participants Takaful Fund. Distribution of the surplus is in accordance to the company’s Surplus Guidelines as approved by its Shari’ah Advisory Board.
Surplus sharing is a key concept in Takaful and differentiates Takaful from conventional insurance. In case of any surplus in the Individual Family Takaful Participants Fund, the excess funds are distributed among the participants as per Surplus Guidelines in proportion of their net contribution to the fund. This surplus amount is given to the policy holder in the shape of additional units being added to his/her investment account.
This plan is available to all Bank customers from 18 to 60 years of age. Since it is a long-term investment & Takaful product, the minimum duration of the plan is 10 years.
The plan requires regular contribution payments on a monthly, quarterly, semi-annual or annual basis. All payments are automatically deducted from your account.
The minimum annual contribution under this plan is Rs. 56,000. There are no maximum limits.
For all claim related matters, please contact Pak-Qatar Family Takaful Limited on (021)-34311747-56 or get in touch with your Relationship Manager.
Yes, you are allowed to withdraw funds from your investment account, subject to a positive cash value of your investments. This however, is not recommended as it may adversely affect the maturity value of the policy.
You only need to submit your CNIC copy.
* Terms and conditions apply
102-105, Business Arcade, Block 6, P.E.C.H.S,
Shahra-e-Faisal, Karachi-75400, Pakistan.
UAN: 111-TAKAFUL (825238)
Ph: (92 21) 34311747-56
Our hotline is available 24X7
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