FAQs All Clients

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[accordion Title=”What is EFU Hemayah Takaful Policy?”]

EFU Hemayah Takaful Policy is a Shariah compliant long-term contract which covers you against financial losses in undesirable events such as illness, disability, or death.

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[accordion Title=”What is Hemayah?”]

‘Hemayah’ is an EFU Life – Window Takaful Operations brand that invites you to become a part of EFU family by obtaining a Shariah compliant Hemayah Takaful Policy.

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[accordion Title=”Does EFU Life – Window Takaful Operations provide Unit Linking Plans?”]

Yes, EFU Life – Window Takaful Operations offers a range of unit-linking plans that provide value and long-term protection for your family. We have products dealing with the savings and protection needs, child education plan and other affordable plans.

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[accordion Title=”What benefits do these plans provide?”]

  • In case of death/ disability/ illness, an agreed upon amount i.e. Sum Covered is payable.
  • In case no claim has been lodged, cash value is paid at the time of maturity. For details about the amount payable at maturity applicable in your particular policy, kindly refer to the Participant’s Membership Documents provided to you along with your Policy Documents.

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[accordion Title=”What do my Participant’s Membership Documents include?”]

Your Participant’s Membership Documents include;

  • Participant’s Specific Schedule – which mentions all the details about your Hemayah Takaful Policy such as your Hemayah Takaful Policy Number, Name and Date of Birth, NIC Number, Date of Commencement, Date on which the Policy was signed, Nominee, Benefit Structure of the Hemayah Takaful Policy, Contribution Due Date, Amount of Contribution due, Mode of Payment and other Special Conditions in the Hemayah Takaful Policy.
  • Hemayah Takaful Policy Illustration – which spells the projected investment growth (your Riba-Free investment value) in future years. Please note that these projected values are based on certain growth assumptions. The final investment growth would be based on the actual performance of the fund your Contribution is invested in. (This is applicable to Unit-linked Takaful plans only)
  • Hemayah Takaful Policy Provisions & Conditions – which describe all the legal aspects of Takaful contract in detail
  • Contribution Receipt – the receipt which confirms that contribution has been received in order to provide Takaful coverage.
  • Copy of “Proposal and Declaration for EFU Hemayah Takaful Plan” – which mentions all details such as your Name and Date of Birth, Medical Questionnaire, Family Medical History and Benefit Structure; on which your policy is issued.
  • Copy of “Acceptance Letter” (if applicable) – which is a letter indicating your acknowledgment of any special terms and conditions that may form basis of your Takaful contract.
  • Hemayah Takaful Policy Acknowledgment Letter – the letter which signifies that you have received your Participant’s Membership Documents. You may return the same to us in case you want to change your correspondence details in your Hemayah Takaful Policy.

We would request you to go through all the documents in detail so that you have a clear understanding of all aspects of your Hemayah Takaful Policy.

Please check if everything is in correct order and accordance with your wishes. These documents are of high importance and should be kept in a safe place.

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[accordion Title=”I have a query. How do I contact EFU Life – Window Takaful Operations?”]

We love to hear from our Participants! We consider your feedback crucial in our continuous effort to improve our services.

Please feel free to contact us at any time for your queries, complaints, suggestions, or general feedback. You could contact us through the following means:

  • You could write to us at the Head Office on the following postal Address:
    Client Services Department
    EFU Life – Window Takaful Operations
    37-K Block 6, PECHS, Karachi- 75400 – Pakistan.
  • You could email us at csd@efuhemayahtakaful.com which is a centralized email help desk located at Client Services Department.
  • You could fax us at +92-21-34537519.
  • You could call at our Takaful Call Centre No. 021-111-EFU-HEM (021-111-338-436) which has been designated specially for our esteemed Hemayah Participants. Our efficient and friendly Call Centre Agents will be glad to respond to your queries.
  • You can contact us through Hemayah Takaful e-Services on our Website. Click here for more information on e-Services.

Of course should you wish, you could visit us at the Head Office on the address mentioned above or walk into any of our branches located near you. You can easily locate your nearby branch through the Branch Locator.

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[accordion Title=”When will my next Contribution be due?”]

You can easily determine the ‘Next Due Date’ of your Hemayah Takaful Policy with the help of Commencement Date and mode of Contribution mentioned on your Participant’s Specific Schedule.

Let us explain: For example, if your Hemayah Takaful Policy commenced on Yearly basis on 01/07/2014, the next Contribution due date of the Hemayah Takaful Policy would be 01/07/2015. Similarly, if the Hemayah Takaful Policy commenced on Half-Yearly basis on 01/07/2014, the next Contribution due date of the Hemayah Takaful Policy would be 01/01/2015 and so on.

We would be happy to help you in remembering the Contribution Date of your Hemayah Takaful Policy by sending a Contribution Notice, a Reminder Notice and an SMS at each Hemayah Takaful Policy anniversary. We would also assist you by ensuring that the Contribution is collected on or about the Hemayah Takaful Policy Contribution due date. However, please note that whilst we will try our best to assist you for payment of the renewal Contribution, the ultimate responsibility to remember to pay the same lies with the Participant.

Your Renewal Contribution details are also available online at all times. You can easily view them at your convenience via Takaful e-Services. Click here for more information on e-Services

In case you wish to know further details of the due Contribution or are unsure of the exact Contribution amount, please feel free to call us on the number 021-111-EFU-HEM (021-111-338-436). We would be glad to help you in explaining the details.

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[accordion Title=”How can I pay Renewal Contribution?”]

You can pay your Renewal Contribution via any of the following modes:

  • Cheque
  • Cash
  • Demand Draft
  • Pay Order
  • Online through Credit Card

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[accordion Title=”Can I pay Renewal Contribution through Credit Card?”]

Yes, Credit Card payments are surely accepted. The only condition is that the credit card must belong to you i.e. Contribution payment through third-party Credit Card is not accepted.

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[accordion Title=”How can I pay my Contribution online?”]

Paying your Contribution online is as convenient as browsing on internet. All you need to know is your Takaful e-Services User ID and Password along with your Credit Card details.

In our secure post-login section you can simply select the Hemayah Takaful Policy due for renewal and pay your Contribution by entering your Credit Card details. Once the Credit Card details have been provided, an email would be sent to you confirming the status of your transaction.

As mentioned, payment through third-party credit card is not accepted. We would urge you to kindly use a Credit Card under your name only.

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[accordion Title=”I want to send my Renewal Contribution. What should I do?”]

Renewal Contribution can be sent through multiple ways such as:

  • Send your Contribution Cheque / Demand Draft through Courier/ Mail Service to the Client Services Department of the Head Office. Please remember to write your correct Hemayah Takaful Policy Number at the back of the Cheque / Demand Draft.
  • Drop your Contribution Cheque / Demand Draft at EFU Drop-Box located in a TCS centre near you. Please enclose your Contribution Cheque / Demand Draft in the EFU Drop-Box Envelope attached with the renewal contribution notice sent to you.
  • These drop-boxes are cleared everyday (except for national holidays and Sundays) and are received at the Head Office the very next working day. In case you wish to pay renewal Contribution and the Contribution Notice along with the Drop-Box Envelope has not reached you, please call us at 021-111-EFU-HEM (021-111-338-436) and we will be happy to immediately send you the same.
  • Pay your renewal Contribution at any EFU Life branch near you. A list of all our branches is available at our website www.efuhemayahtakaful.com. You could pay through Cheque, Demand Draft, Cash or Credit Card at any of our branches and collect the provisional contribution receipt. The final receipt will be issued and sent to you from the Head Office within few days of Contribution payment.
  • Contact EFU Life Hemayah Consultant who would personally visit you to collect the Contribution.
  • Pay your renewal Contribution through credit card by logging-in for e-Services on our official website, www.efuhemayahtakaful.com.

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[accordion Title=”I am residing abroad. Is there any way through which I can pay my Renewal Contribution?”]

Sure, you can send us the Renewal Contribution through any of the multiple ways such as Cheque, Demand Draft and Pay Order via Telegraphic Transfer at the following address:

Bank Islami
DHA, Phase II Branch
Karachi

Title of Account:
EFU Life Assurance Ltd. – Window Takaful Operations

Account Number:
1050-0008265-0204

You can also pay the renewal contribution using your credit card via our online contribution facility. Click here for more information on e-Services.

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[accordion Title=”How do I get confirmation of renewal Contribution after I send the payment?”]

Once the total Contribution under your Hemayah Takaful Policy is received by us before the Contribution Due Date or during the Grace Period, an SMS would be sent to you acknowledging that your Contribution has been received and the ‘Takaful Renewal Confirmation Letter’ will be mailed to you shortly.

Soon after your Hemayah Takaful Policy has been renewed, a ‘Takaful Renewal Confirmation Letter’ will be sent at your correspondence address. This letter confirms that the Hemayah Takaful Policy Contribution has been received and benefits are in-force till the next Contribution Due Date. You should receive the confirmation letter within one week of your sending the Contribution.

If your Hemayah Takaful Policy incorporates ‘Inflation Protection Benefit’, you would also receive an ‘Amended Participant’s Specific Schedule’ along with the ‘Takaful Renewal Confirmation’. This Amended Participant’s Specific Schedule is a part of the Hemayah Takaful Policy Documents and should be kept in a safe place.

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[accordion Title=”What if I am unable to pay the Contribution by the due date? “]

For your convenience, your Hemayah Takaful Policy provides for a 30 days Grace Period (starting from Contribution Due Date) during which the Hemayah Takaful Policy will remain in-force even without the receipt of the Contribution.

Suppose, the next Contribution Due Date of your Hemayah Takaful Policy is 01/06/2014. The 30 days Grace Period will end on 30/06/2014.

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[accordion Title=”The Grace Period of my Hemayah Takaful Policy has elapsed? How do I put my Hemayah Takaful Policy back ‘In-force’?”]

In case the Contribution does not reach us within the Grace Period and the Membership has the cash value, then the WTO will keep the Membership in force by cancelling enough Units (at Bid Price) from the PIA to maintain the cover equal to the Sum At Risk for not less than one year from the due date of the first unpaid Regular Contribution. However if the membership has no cash value then the membership would lapse. Notices are sent to all such Participants in order to intimate them about their Membership status.

Once the Membership has lapsed, it must be ‘Reinstated’ to put back to ‘In-force’. Reinstatement is the process by which the Company puts back ‘In-force’ a Membership that has been terminated because of non-payment of renewal contribution.

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[accordion Title=”I want to Re-instate my Hemayah Takaful Policy? Do I have to submit any documentary requirements with the Contribution? Are there any late payment charges?”]

The good news is that there are no penalties on reinstatement. Should you wish to reinstate your Membership, you are required to send us all the past due contributions along with an Application for Reinstatement & Health Declaration Form duly filled and signed by you. You will find this form attached with the Notice sent by us.

In case you wish to get your Membership reinstated and the Notice along with the Reinstatement Application Form has not reached you, please call us on the number 021-111-EFU-HEM (021-111-338-436) and we would send you the same. The Reinstatement Application Form is also available in the Downloads section of our website.

If your Membership has been lapsed for more than three months, we would require an Application for Reinstatement & Special Health Declaration Form duly filled and signed by you. The form is available in the Downloads section of our website. Moreover, some additional requirements may also be called that would be determined after the underwriting process.

In case your Membership is lapsed and you are interested in getting it reinstated, please call us on the number mentioned above and we would be happy to guide you about the reinstatement process.

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[accordion Title=”What if I want to pay the Contribution in advance?”]

Sure, you could pay your Contribution in advance so that by the time next Contribution Due Date arrives, the Contribution is already there in your Hemayah Takaful Policy.

Please do remember that the contribution paid in advance remains un-allocated and lies in your Hemayah Takaful Policy as credit balance. Contribution is utilized only once the renewal due date arrives.

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[accordion Title=”What EFU Hemayah Takaful plan should I obtain?”]

A plan that best suits you largely depends upon your protection needs, age, income level, your health condition etc. In order to obtain the same, kindly let us know by filling out the ‘Set an appointment’ form available on our website www.efuhemayahtakaful.com and we would route our Consultant to provide you the required assistance. Our Consultant would utilize his/her profound expertise to identify a plan that fulfills your needs.

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[accordion Title=”I want to make changes in the Plan I obtained. What should I do?”]

You could surely make changes in your Hemayah Takaful Policy. In fact we recommend that you revisit your takaful and savings needs every year so that your Hemayah Takaful Policy benefits can be kept abreast with your Takaful/saving needs.

One month before each Hemayah Takaful Policy anniversary, you could apply for changes in the plan. This could be a variation in the existing benefit structure or you may ask for additional benefits.

In order to understand your takaful and savings need, please talk to your EFU Life Consultant who will utilize his expertise to identify the Hemayah Takaful Policy benefit structure that best suits you.

In order to make changes in the Hemayah Takaful Policy, an ‘Alteration Form’ would be required duly filled and signed by you. Once a written request is received and all the requirements have been furnished, your Hemayah Takaful Policy can be altered as per your wish. Alteration Form is available in the Downloads section of our website. You could also get the same by calling us on the number 021-111-EFU-HEM (021-111-338-436). Our representative would be glad to guide you further in the Alteration Process.

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[accordion Title=”Is it possible to invest additional contribution above the regular contribution?”]

Yes, you can invest additional contribution over and above the regular contributions, subject to the feature being available in your choice of product. This facility is known as ‘Fund Acceleration Contribution’ and can be made at Hemayah Takaful Policy commencement or at any Hemayah Takaful Policy anniversary. This benefit acknowledges the fact that you may have surplus cash available at any point in your life as it gives you the flexibility to top-up your savings by depositing your surplus funds as lump sum contributions in the Hemayah Takaful Policy. The FAC payments will increase the investment growth of your plan, but will not affect the Sum Covered.

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[accordion Title=”What is Inflation Protection Benefit? How can I avail this option?”]

Inflation Protection Benefit gives you the security and peace of mind of knowing that the benefits provided by your plan will be automatically enhanced every year.

Once you select this option, the contribution increases every year. This benefit protects you against the rising prices in the economy by proportionally increasing the Sum Covered of the Hemayah Takaful Policy along with the Contribution. It comes as a built-in feature in your Hemayah Takaful Policy and can be easily abandoned any time by simply paying the Contribution amount paid in the previous year.

The amendments in the Hemayah Takaful Policy as a result of Inflation Protection are reflected in the ‘Amended Participant’s Specific Schedule’ sent by us along with the Hemayah Takaful Renewal Confirmation. Since the ‘Amended Participant’s Specific Schedule’ is a part of the Hemayah Takaful Policy Document, we urge you to keep it in a safe place along with your other Hemayah Takaful Policy Documents.

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[accordion Title=”Can one seek refund of Contribution if not satisfied with the Hemayah Takaful Policy, after obtaining it?”]

Yes, the participant can seek refund of Contribution if he is not satisfied with the Hemayah Takaful Policy and/or its terms and conditions, within 14 days of receipt of the Hemayah Takaful Policy documents (Free Look Period). The participant shall be refunded the contribution less the Waqf Donation transferred into Participant Takaful Fund. Prior to making the refund, the Company shall however be entitled to deduct all expenses incurred by it in connection with the medical underwriting of the Participant. For details, please call at our Call Centre number mentioned above.

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[accordion Title=”What if I need cash before Hemayah Takaful Policy matures?”]

Upon written request, you can withdraw an amount from the Hemayah Takaful Policy through a process known as ‘Partial Surrender’. However, the amount to be withdrawn should be chosen from the accumulated investment growth such that a residual value of the amount stated in the Participant’s Membership Documents remains in the Hemayah Takaful Policy after the withdrawal.

In order to partially surrender your Hemayah Takaful Policy, we need a ‘Surrender Form’ duly filled in and signed by you along with Zakat Declaration (if you wish to apply for Zakat Exemption). To get the Surrender Form’, please call us at our Call Centre.

Once all the above requirements (if any) have been fulfilled, Hemayah Takaful Policy is partially surrendered on the Bid Price determined on the next valuation of Participant’s Takaful Fund. The Bid Price is unknown in advance. The final surrender value payable is calculated by multiplying the number of units surrendered with the Bid Price.

Please note that on Partial Surrender, the Sum Covered of a Hemayah Takaful Policy proportionally reduces (except for few plans). The good news is that you can request to restore the previous Sum Covered of your Hemayah Takaful Policy. In order for us to do the same, please send us a written request at our Head Office or call us at our Call Centre.

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[accordion Title=”I wish to cancel my Hemayah Takaful Policy before Maturity. What should I do?”]

Once the Free-look Period of a Hemayah Takaful Policy has elapsed, the only way to cancel the Hemayah Takaful Policy is to ‘Surrender’ it. Full surrender of the Hemayah Takaful Policy terminates the Contract and the Company’s liability to arrange the payment of any claim ceases. Please make a note that only Unit-linked Takaful policies can be surrendered.

May we request you to refer your Participant’s Membership Documents which highlight the clause regarding Hemayah Takaful Policy Surrender.

In order to fully surrender your Hemayah Takaful Policy, we need a ‘Surrender Form’ duly filled in and signed by you along with the Original Hemayah Takaful Policy Documents and Zakat Declaration (if you wish to apply for Zakat Exemption). To get the Surrender Form’, please call us at our Call Centre. The amount on account of full surrender is paid after deducting the Surrender Charges of Rs. 500/-.

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[accordion Title=”If I obtain a unit linked Hemayah Takaful Policy, how much cash value will it accumulate in future?”]

The cash value of a policy is dependent upon the performance of the fund under which the investments are made. Since the economic conditions of the country have a major influence on the performance of the fund therefore it is not possible to quote the exact amount of cash value your investment will accumulate in future.

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[accordion Title=”What Benefits will I receive on Maturity?”]

The amount payable on maturity varies from plan to plan. In order to specifically know the benefits of your Hemayah Takaful Policy at maturity, please refer to the Participant’s Membership Documents included in your Hemayah Takaful Policy documents. In case you wish to know the value at maturity in detail, or are unsure of the exact benefits provided by your Hemayah Takaful Policy etc please feel free to call us at our Call Centre.

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[accordion Title=”What happens at the time of Claim? How does one lodge a Claim? “]

A claim is a legal action to obtain benefits provided by your Hemayah Takaful Policy. It is necessary to be familiar with the benefits covered in your plan. These customized benefits are illustrated on your Participant’s Specific Schedule included in the Hemayah Takaful Policy Documents. The Schedule also highlights the Sum Covered, Contribution, and Term (Years) attached with those benefits.

The Provisions & Conditions of each benefit attached with your Hemayah Takaful Policy have been provided separately in the Hemayah Takaful Policy Documents.

In order to submit a claim, please contact our Claims Department through any of the following multiple ways:

  • You could write to us on the following postal address:
    Claims Department
    EFU Life – Window Takaful Operations
    37-K Block 6, PECHS, Karachi- 75400 – Pakistan.
  • You could email us at cod@efuhemayahtakaful.com which is a centralized email help desk located at Claims Department.
  • You could fax us at +92-21-34537519.
  • You could call at our Call Centre No. 021-111-EFU-HEM (021-111-338-436)

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[accordion Title=”What documents are generally required at the time of Claim? What is the procedure?”]

Once the claim is lodged, it is assessed by our Claims Examiner who utilizes his/her expertise of handling claims. In the light of legal and medical aspects involved in the contract, the Claims Examiner determines the documents necessarily required to assess a claim. Upon furnishing the said documents, claim is decided as per the Provisions and Conditions of the Hemayah Takaful Policy by the Claims Committee.

May we mention here that the responsibility to furnish the said requirements lies with the claimant, however our consultant would assist you in completing the said requirements and keeping you updated about the status of claim. In the absence of complete requirements the assessment of claim becomes difficult and consequently affects the final decision.

The documents generally required to assess the claim are dependent upon the nature of claim. Hence, in order to know the requirements please call us on the number 021-111-EFU-HEM (021-111-338-436). Our representative would be glad to guide you further in the Claims process.

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The following section is applicable to Unit-linked Takaful Plans only.

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[accordion Title=”What is a Unit?”]

It is a component of the underlying investment fund in a Unit-linked Hemayah Takaful Policy.

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[accordion Title=”What is a Unit- Linked Policy?”]

Under a unit linked policy, the Takaful Operator utilizes a certain percentage of Contribution to buy units in a Participant’s Investment Fund (PIF). The units of a PIF are just like shares of any company but carry no dividends as such. These funds are managed by the experts who utilize their profound knowledge of islamic financial markets to reap the maximum investment benefits. Of course, the performance of the fund is subject to economic conditions of the market and thereby the unit price of any fund varies due to prevailing market scenario.

As the funds are judiciously managed by investment experts, normally the trend of unit prices on a longer term remains up-sloping. From the investment point of view, the growth and return attainable from the fund is usually favorable.

The element of savings/ investment is available in unit-linked Hemayah Takaful Policies only.

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[accordion Title=”What are the advantages of investing in an EFU Life Participant’s Investment fund?”]

  • Adherence to Halal, riba free investment.
  • Exclusion of speculative transactions and returns.
  • A fair distribution of investment gains in an Islamic Shariah compliant way, based on the individual’s share of the fund.

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[accordion Title=”Where are the funds managed by EFU Life – Window Takaful Operations usually invested in?”]

EFU Life has carefully selected the investment options for the new unit linked fund. The money will be invested in instruments such as Islamic mutual funds, term deposits in Islamic Banks and Sukuk Bonds which have been approved by our Shariah Advisor.

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[accordion Title=”How is my Contribution utilized? “]

The fundamental purpose of a Hemayah Takaful Policy is to provide money to meet financial losses caused by death, disability, or illnesses. However, unit-linked Takaful Policies also provide investment benefits – that is, money payable on survival of the participant.

  • Your Contribution is distributed in two elements.
  • P = Protection = The Waqf Donation made into PTF/Waqf Fund.
  • I = Investment = The amount being invested in Participant’s Takaful fund.

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[accordion Title=”I wish to know the Fund my Hemayah Takaful Policy is linked to?”]

Please note that your Hemayah Takaful Policy is linked to:

  • EFU Takaful Growth Fund

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[accordion Title=”What is the Bid Price? How is it calculated?”]

Bid Price is the price at which units can be en-cashed in the Hemayah Takaful Policy. It is quoted daily after the valuation of fund. The Bid Prices are published in the newspapers and can also be viewed at our website.

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[accordion Title=”What is Offer Price? How is it calculated?”]

Offer Price is the price at which units are allocated in the Hemayah Takaful Policy. It is quoted daily after the valuation of fund. Offer Prices are also published in the newspapers and can be viewed at our website.

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[accordion Title=”What is the difference between Offer and Bid price of a fund?”]

Each unit of a fund has two prices at a time:

  • The Offer price at which the investor buys into the fund
  • The Bid price at which the investor sells out of the fund

The difference between the Offer & Bid price is the spread which is charged by the Company on each basic Contribution as part of Wakalatul Istismar Fee. This Bid/Offer spread is normal and customary charge levied by majority of the Family Takaful companies across the world, who market unit-linked policies.

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[accordion Title=”How can I calculate the Cash Value of my Hemayah Takaful Policy?”]

Cash Value can be calculated by multiplying the number of units accumulated in the Participant’s Takaful Fund and the Bid Price of the underlying Takaful fund to which that Hemayah Takaful Policy is linked.

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[accordion Title=”What will be the final Investment Growth of my Hemayah Takaful Policy at its maturity?”]

The Investment Growth of the Hemayah Takaful Policy is dependent upon the performance of the underlying fund to which your Hemayah Takaful Policy is linked. Since the performance of fund is subject to economic conditions, it is not possible to quote the exact Investment Growth of your Hemayah Takaful Policy in advance.

However, your Hemayah Takaful Policy document does include an Illustration which depicts the projected Investment Growth of your Hemayah Takaful Policy based on certain assumptions. As mentioned above, the actual value of the Hemayah Takaful Policy will depend upon the performance of the fund and the final value may be different to the one projected in the illustration.

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