Accidents occur without warning and can cost employees a physical loss or their life. The Family Employee Benefit Scheme covers death as well as other supplementary benefits which can be attached as rider’s benefit to the master certificate.

The proceeds of the plan are payable to a proper claimant or person covered resulting from death or bodily injury either due to disease or accident. The amount of coverage may be tailored to the needs and budget of the employer. The plan may also be extended to cover dependents (i.e. spouse and children) of the employees. The period of cover is on an annual basis and renewable with the approval of the company. The plan may be used by employers and corporate bodies as part of the fringe benefits granted to their employees.

The following are provided as rider’s benefit:
• Permanent Total Disability (PTD)
• Accidental Death (AD)
• Permanent Partial Disability (PPD)
• Temporary Total Disability (TTD)
• Medical Expenses (ME)
• Critical Illnesses (CI)
• Terminal Illness (TI)
• In-Hospital Cash Allowance (HB)
• Funeral Expenses (FE)
• Repatriation Benefit (RB)

A popular choice for financial institutions such as banks, cooperative societies, corporate organisations, or employers (financiers) that provide financing facilities, credit, or finance to customers or employees for the purpose of purchasing assets such as a house, shop, land, car, etc. to secure their financial future should there be an untimely death or permanent total disability of a member. Under this plan, if a member dies during the payment period and the financing facility is not fully paid then its balance shall be paid from the proceeds payable under the plan. The amount of the sum covered shall be decreasing progressively in tandem with the balance of the outstanding facility. The plan may be extended to cover Personal Accident and Critical Illnesses as rider benefits.

‍Benefits for the Member
Security: Outstanding balance of the financing facility will be repaid in lump sum upon the untimely death of the customer.
Relief: The guarantor, if any, shall not be burdened to assume the liability of the facility in the event of the death of the member.
Ownership: Post full payment and redemption of the facility, the fixed asset under the facility will be free to be inherited by the rightful heirs of the member.

‍Benefits for the Financier
Guarantee of settlement: Full payment of the outstanding balance of the facility will be assured in the event of the untimely death of the member.
Cost-saving: Post settlement with the member, the financier will not incur additional expenses such as legal fees, reminders, and litigation normally required to recover the unpaid outstanding balance of the facility.

Designed specifically to cover a group of employees who sustain bodily injury as a result of an accident at an extremely reasonable cost. The period of cover is annual and renewable with the approval of the company.

The following benefits may be attached as rider’s benefit:
• Permanent Total Disability due to Accident (PTDA)
• Permanent Partial Disability due to Accident (PPD)
• Temporary Total Disability due to Accident (TTD)
• Medical Expenses due to Accident (ME)
• In-Hospital Cash Allowance due to Accident (HBA)
• Funeral Expenses due to Accident (FEA)
• Repatriation Benefit due to Accident (RBA)

Covers financial or non-financial institutions such as banks, cooperative loan societies, finance companies, and the like, so that they are covered to protect their financial interest on the credit facilities granted to their customers in the event of non-payment due to the untimely death or permanent total disability of the customer.

The cover provided under this plan is meant for short-term credit only, usually under five years or less and limited to a lower amount of financing (AED100,000 or less). The period of cover is annual or for a longer period which corresponds to the period of financing of each customer. As cover is granted to a group, medical evidence is not required. All customers are covered automatically under the plan making the administration of the plan relatively simple.

Provides cover to credit cardholders under a common single master takaful certificate to protect the outstanding credit card balance in the event of an untimely death of the cardholders. The plan can be conveniently structured in a way such that the entire financing amount or the balance amount is paid up in case of the untimely demise of the cardholder.

The takaful contribution can also be adjusted on an annual or monthly basis according to the total balance of the financing outstanding. Credit Shield is a protection cover, which ensures that the financing amount is paid back to the financier in case of an untimely demise of the customer. This plan provides total peace of mind as in the case of the untimely demise of the cardholder, the family is not burdened with the outstanding financial liability.

For credit card facilities, the following benefits may be attached as rider’s benefit:
• Permanent Total Disability (PTD)
• Accidental Death (AD)
• Critical Illnesses (CI)
• Terminal Illness (TI)

This plan covers the minimum monthly payment due to:
• Involuntary Loss of Employment
• Temporary Total Disability

The period of cover is annual and the plan is renewed automatically until expiry of the financing period.

The Group Depositors Plan is designed specifically to cover depositors or bank account holders. The plan is used by banks as a means to attract depositors to open an account with the bank. The plan provides incentives to the depositors in the form of death benefits. The amount of death benefit usually links to the amount of savings deposited with the bank. The higher the savings the more the benefit, thus providing an incentive to the account holders to increase their savings with the bank.
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Example 1

In addition to the death benefit and to make it more attractive to the prospecting account holders, the plan can be extended to cover:

• Permanent Total Disability (PTD)
• Accidental Death (AD).Permanent
• Partial Disability (PPD)
• Temporary Total Disability (TTD)
• Medical Expenses (ME)
• Critical Illnesses (CI)
• Terminal Illness (TI)
• In-Hospital Cash Allowance (HB)
• Funeral Expenses (FE)
• Repatriation Benefit (RB)

Cover helps protect members from the financial hardships of serious or terminal illnesses (as defined under the plan). The period of cover is annual and the plan may be renewed with the approval of the company. The product may be taken as a standalone product or as a rider benefit to the Group Family Takaful Plan.

The critical illnesses covered include:
• Cancer
• Multiple Sclerosis
• Kidney failure
• Stroke
• Heart attack
• Major organ transplant
• Coronary artery by-pass graft
• Liver Cirrhosis
• Parkinson’s Disease
• Blindness – permanent and irreversible
• Paralysis of limbs – total and Irreversible

An extension of the Group Family Takaful Plan incorporating most of the rider benefits due to all causes under one single master takaful certificate.

The rider benefits include:
• Permanent Total Disability (PTD) – any and own occupation
• Permanent Partial Disability (PPD) due to accident and sickness
• Temporary Total Disability (TTD) due to accident and sickness
• Medical Expenses (ME)
• Critical Illnesses (CI)
• Terminal Illness (TI)
• In-Hospital Cash Allowance (HB) due to accident and sickness
• Funeral Expenses (FE) due to accident and sickness and
• Repatriation Benefit (RB) due to accident and sickness

The Comprehensive GEB plan benefits the employer in the following ways:
• Builds goodwill – the employees know their employer’s commitment to their welfare and security.
• As a fringe benefit, it reduces labor turnover.
• It is an extremely budgeted and comprehensive program to provide employee benefits.
• Offers protection against unforeseen expenditure.
• Provides an opportunity to cover all employees with relatively low contributions (premiums).
• Relieves the administrative burden pertaining to employee benefits.
• Requires minimum evidence of coverability thus ensuring coverage for all employees