Shariah compliant financing, business finance and all such credits help in achieving an individual’s dreams, however, they come with a sense of future insecurity in handling repayments. An illness, injury or death may strike without warning, leaving the debt impossible to recover.
EFU life offers Group Family Takaful Credit Protection Scheme, provides death and disability cover for the customers of a financing institution by ensuring coverage for repayment of credit/debt. So let your customers enjoy that latest car, luxury home, and financial facilities with complete peace of mind.
The following features of the Credit Protection Scheme make it an essential for all credit facilities:
The EFU Group Family Takaful Credit Protection Scheme gives financial institutions the facility to tailor the package to their specific needs by choosing from a comprehensive range of additional benefits available. All covers are available on a 24-hours worldwide basis and cover both on-duty and off-duty risks.
Even though the additional benefits are subject to some exclusions, the basic death benefit is exclusion free and shall be payable in any case. Acts of terrorism such as fire-arm, murder, assault and assassination are covered as well.
The benefit provides for the full payment of the basic sum covered if the permanent and total disability by accident prevents the individual from following his own occupation or any other similar occupation for which he is reasonably suited by reason of education, training or experience.
The benefit provides for the full payment of the basic sum covered if the permanent and total disability by accident prevents the member from following his occupation or any other occupation.
This benefit provides for the payment of the full sum covered if permanent disability is caused by natural causes.
The basic data requirement from the financial institute/bank is the list of customers along with details regarding name, date of birth and CNIC number. The sum covered for each customer shall have to be submitted monthly, which shall be the outstanding credit/debt balance or any other information according to the type of cover extended.
New customers and customers who paid off in full may be adjusted on a monthly basis in the scheme.
At EFU Life we strive to provide you excellent services and serve you beyond your expectations. Having a friendly customer service and a dedicated consultant force, we ensure you the best of our attention at all times.
We have set up stringent service standards so that we may satisfy our customers consistently: