The asset allocation depends on the participant on how much he or she would like to allocate in the Shariah approved Takafulink funds (Takafulink Dana Bon, Dana Ekuiti and Dana Urus) with the multiple of 5%. His choice of funds depends on his investment needs and risk tolerance.

a)  Vary sum covered
•  minimum increase/reduce is RM10,000
•  Increase sum covered can be done before age 60

b) Surrender the certificate

There is no surrender charge.

No.

Client may switch his or her investment between Shariah-approved Takafulink funds at any time depending on his or her investment needs. The minimum amount that can be switched is RM1000 and it will transact at unit price basis (at next pricing date).

One free switch is allowed every certificate year. Unused switch cannot be carried forward to the following year. Subsequent switches within the year will incur a switch fee of 1% based on the amount switched subject to a maximum of RM50.

None

No it is not allowed.

The existence of donation (Tabarru') in Takafulink changes the basis of the contract to one that is charitable and unilateral in nature, making the transaction permissible and valid according to Shariah. This is different from the conventional where it is a buy and sell contract (bilateral)..

The contribution for basic and optional benefit (i.e. crisis shield) will be used to purchase units in the fund while the contribution for supplementary benefits will be credited into Individual Special Account.

Contribution allocation/crediting rates into Participant's Unit Account and Individual Special Account are as follow:-

It's referring to any fees that the participant pays to the Takaful Operator for services rendered. These fees consist of the commission and distribution related wakalah charge, service wakalah charge, asset management wakalah charge and risk management wakalah charge.

Similar to the Insurance Charge of conventional policies, Tabarru' is deducted for the purpose of solidarity and cooperation among the participants and to be used to help other participants in times of misfortune.The Tabarru' from participants are kept in the Tabarru' Fund (Risk Fund) where the claims amount are paid from.

Value of units from the Participant's Unit Account (PUA) as well as cash value from Individual Special Account (ISA) will be payable upon the surrender of the Takafulink.

Withdrawal of units from PUA may be made at any time, subject to the minimum withdrawal of RM1000 and the value of remaining units is at least RM4000. Partial withdrawal from ISA is not allowed.

If the certificate is cancelled within the 15-day free-look period, the full contribution less medical expenses will be refunded.

The refund value would be the total of the following:
I)    Value of Units based on next pricing date
II)   Wakalah fees
III)  Service charge
IV) Tabarru' (less Medical Expenses)
V)  Supplementary Benefits Contribution