Having wealth alone, without it being managed and developed for the goodness of mankind, is contrary to what is demanded by Islam. Islam decrees that such wealth to be developed and prohibits one from freezing it.
Nowadays, some people begin to turn to investments as an alternative form of income to achieve their future objectives. Yet today, our society is overwhelmed by various investment methods, both legal and illegal, including get-rich-quick schemes.
It is undeniable that the awareness for investing among the community today is very encouraging. However, such enthusiasm should not make one fail to distinguish between the real investment methods and the bogus ones, for it may produce catastrophic results in the future instead of success.
Therefore, every member of the society has to get hold of the basic knowledge related to the investments before deciding to invest.
With rapid growth and development of the takaful industry at present, takaful operators are also offering many innovative products that meet the needs of the society.
To fulfil the customers’ needs, not only in term of takaful coverage, but also to reap profits from the investment activities of takaful handlers. Takaful Ikhlas is offering a product that combines the elements of takaful coverage with elements of investment, known as “investment-linked”.
Subscriptions to these investment-linked products are expected to continue to escalate, in line with the increasing income of Malaysians.
The investment-linked takaful plan is a long-term savings plan based on the method of investing in a group of shares that are divided into several units, something akin to unit trusts and combined with takaful protection benefits.
The significant distinction between the takaful investment-linked compared to other investment methods is the element of protection. A participant will not only reap the benefits of investment profits, but will also enjoy the elements of protection should the participant suffer any of the risks covered under the plan.
Takaful Ikhlas offers the Ikhlas Premier Investment-linked Takaful and Ikhlas Capital Investment-linked Takaful.
Ikhlas Premier Investment-linked Takaful provides a peace of mind to potential investors with sufficient financial protection through investments in any of these investment funds, namely the growth funds, balanced funds and fixed-income funds.
Under the premier investment-linked takaful, participants have the opportunity to make a more lucrative income with only RM100 per month contribution, and they are actually equipping their future with financial protection, should any disaster befallen them that can lead to death or total & permanent disability (TPD).
As for benefits in the case of death or TPD, 100 per cent of the total coverage plus the outstanding amount in all share units will be paid to the participant or his immediate family.
On the other hand, through Ikhlas Capital Investment-linked Takaful, a single contribution is enough to give the participants the opportunity to get a more lucrative return on forthcoming investments. It is a plan that provides added value, both to the capital and protection simultaneously.
Under this plan, participants can enjoy the highest return and protection on the investments they make. For example, with a one-time payment of RM5,000, participants will enjoy a lucrative
investment return and takaful coverage required in the event of a disaster that leads to death or TPD.
A participant or his next of kin can enjoy (subject to the terms and conditions) 100 per cent of the total coverage (equivalent to 125 per cent of the single contribution) in case of death or TPD.
Investment-linked takaful plan is not only unique in terms of worldly benefits to be enjoyed by the participants, but it also provides benefits for the hereafter. This benefit can be enjoyed by the participants through the application of “Tabarru” (donation), which is the core of the takaful system.
In the takaful system, implementation of Tabarru is bound to the principles of takaful (mutual help), which is to create a mutual atmosphere of helping one another. As a simple analogy, participant A would make a contribution to help participant B, and participant B would donate to help participant A, this would create a helping environment known as takaful. These are among the advantages and beauty of the takaful system that is not found in conventional insurance system, to enjoy the benefits of the hereafter together with the worldly returns.
Participants need not feel apprehensive because the responsible bodies in the takaful industry in Malaysia, such as Bank Negara Malaysia, have established a robust and efficient regulatory framework of syariah compliance. Takaful Act 1984 also has allocated several provisions that require takaful operators to ensure that all their activities comply with syariah, and this is accompanied by circulars issued from time to time by Bank Negara.
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