Group Term Family Takaful

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Plan Overview / Benefits

Employee retention and motivation are probably the key challenges that employers face in a competitive work environment. It is important to get them to focus on their job and remain committed to the organization long term. Employees work with utmost dedication when they believe their organization truly cares about their well-being. Group Family Takaful addresses an employees’ need for financial cushion from the ‘factory floor’ to the ‘board room’.

The main highlights for EFU Life’s Group Term Family Takaful are:

  • A low-contribution, easy to administer policy that can be renewed annually. A single master policy for all employees of the group.
  • Flexibility that shall provide the optimal plan suiting your needs. Takaful cover can be a flat amount or linked to designations, length of service and/or salaries.
  • Adds value to your Takaful plan by opting for additional benefits.
  • Easy administration- new members can join and outgoing members can leave the Plan at any time with contribution adjustment.
  • Lower group contributions as compared to individual Takaful.
  • Most employees can be covered without a need for medical.
  • Exclusion free Takaful cover in case of natural death.

The EFU Group Family Takaful Plan gives employers 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 covers 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.

    • Accidental Death Benefit

The benefit provides an additional amount in the event of accidental death.

    • Accidental Disability Benefit (PTD Accident)

The benefit will provide for a certain percentage of the basic sum covered (according to the schedule, which is in line with the Labor Laws) payable when permanent and total disability results from an accident. This rider mainly aims to provide a financial cushion to workers where the chance of amputation is usually high.

    • Accidental Disability Benefit (PTD – own and similar occupation)

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. This benefit mainly aims to provide a financial cushion to individuals of your group.

    • Accidental Disability Benefit (PTD – any occupation)

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 mainly aims to provide a financial cushion to individuals of your group.

    • Natural Disability Benefit

This benefit provides for the payment of the full sum covered if permanent disability is caused by natural causes.

    • Fortnightly Income Benefit (FIB)

The benefit is payable in case of temporary total disability resulting from an accident. The benefit is paid monthly up to a maximum of one year and is paid for the disabilities lasting for more than 14 days.

    • Hospitalization/ Medical Expense Benefit

Our Accidental Hospitalization/Medical Expense Plan provides a financial cushion against accidental incidents that might lead to bodily injuries. The Plan offers financial support in case of hospitalization arising due to the accident. Actual expenses incurred for medical treatment will be covered under the Plan.

    • Funeral Benefit

This benefit is provided to low-income workers to cover funeral expenses in case of the member’s death.

    • Terminal Illness Benefit

This benefit provides for the advance payment of 50% of sum covered (subject to a maximum limit) in case of diagnosis of Terminal Illness. The remaining 50% sum covered will be payable on death.

The basic data requirement from the employer is the list of employees with details regarding the names, dates of birth, employee code or any other unique ID and CNIC numbers.

In case of flat coverage no further details are required.

In case of graded coverage linked with salaries, designation, length of service or any other variable then details of the same shall have to be provided for each employee. This information is required to calculate sums covered and will be required at each renewal date.

Timely adjustments of fluctuations (additions or deletions) can be made if the turnover of employee is communicated along with names, dates of birth, CNIC numbers and date of leaving or joining.

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:

  • Claim settlement within 7 days of submitting claim documents.
  • Service response to business queries within 3 working days.
  • ISO 9001-2008 certified operational procedures to ensure optimal quality services.
  • Well-trained staff with strong Takaful background.
  • Preparation of quotations within 3 days of quotation request.