Investment Takaful

Investment Takaful Plan is designed to enable you build a fund to support you in your old age or before your retirement. It can also be used to provide for family’s needs in the event of your untimely death. Investment Takaful Plan’s key benefit is to provide financial security for you and your loved ones.

What are the benefits under the plan?

Maturity Benefit: Certificate sum covered plus accumulated profit from investment is paid to the participant at the end of the takaful term.

Death of Participant:

In the event of unfortunate death before maturity, the sum covered plus the accumulated profit from investment is paid to the beneficiary.

How does the plan work?

Participant may choose a sum covered and contribution based on his/her capacity.
Participant must pay the contribution regularly till end of the term.
Sum Covered plus accumulated profit from investment will be payable at the end of takaful term to the participant.
In case participant dies in an unforeseen event, the Sum covered and accumulated profit from investment will be paid to the beneficiary.

Additional benefits available under the plan

By paying an additional contribution the Participant can avail the following rider Benefits:

Total Permanent Disability (TPD): In case of Total Permanent Disability due to accident during the term of certificate Ayady Takaful will pay an amount equal to sum covered as TPD.

Critical Illness: If the participant is diagnosed with a long term illness (those illnesses which are mentioned in the certificate) during the term of the plan, then Ayady Takaful will pay an amount equal to sum covered as Critical Illness.
*Above benefits are limited to a maximum of MVR 500,000 each.

Key Features

Minimum Term of Cover: 05 Years
Maximum Maturity Age: 65 Years
Takaful Term (depending on Participant’s age): 05 – 55 Years
Minimum Sum Covered: MVR 50,000

Discounts

Discount for Contribution Mode
Yearly – 2%
Half Yearly – 1%
Quarterly – nil
Monthly – nil
Discount for Sum Covered
Up to MVR149,999 – nil
MVR150,000 to 249,999 – 0.1%
MVR250,000 and above – 0.2%

Illustrative Example

A 20 year old person takes a certificate of sum covered MVR100,000.
The contribution to be paid and the benefits are as follows:

Takaful Term (Years) Monthly Contribution (MVR)
15 730
20 570
25 470
30 400
35 350
40 310
45 280

Benefits Payable:

Maturity Benefits: Full Sum Covered plus Accumulated Profit
Death Benefit: In the event of unfortunate death before maturity, the Sum
Covered plus the accumulated profit from investment will be paid by Ayady to the beneficiary.

* Profit on investment is variable and will depend on future performance of Ayady Takaful

What are the documents required?

* Note: Contribution can be paid by Cash, BML’s BillPay or Bank Transfer.