ENP Newswire -
Release date- 14062014 -
The surplus amounts for Individual Plan holders have been credited to the accounts of customers for the year 2013-2014. Developed and managed by SALAMA, the leading provider of Sharia compliant
The Al Islami Takaful Riayati Plan is part of DIB's comprehensive range of Sharia-compliant insurance solutions. Offering an affordable and competitive alternative to conventional insurance products, the plan protects customers and their families in instances of accidental death, illness and disability.
Customers subscribing to the plan agree to make donations to the fund, which are collected and used to support claims made on the plan by fellow participants. In instances where the total contributions made by customers exceed the amount of reserving, expenses and claims made by people subscribed to the fund, the excess is redistributed to clients in the form of a surplus, thereby ensuring that the plan abides by Sharia principles.
This product can be purchased through any DIB branch or DIB's online banking platform. It is an over the counter product that doesn't require any medical underwriting or lengthy paperwork and is issued instantly. Customers applying to the Plan receive a range of coverage ranging from family takaful benefits, accidental medical reimbursement and permanent total disability benefits, amongst others.
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