1. About Us
Here at HNB General, we pride ourselves on providing innovative solutions to satisfy the various needs of our customers. With that in mind, we decided to promote HNB General Takaful.
2. What is Takaful?
Takaful is an alternative to conventional insurance. This is based on the principles of Sharia, where a group of people pool their financial resources to guarantee each other against loss/damage which they may encounter.
3. Products Offered
Broadly speaking, HNB General Takaful (Non Life Insurance) offers both Motor Takaful and non motor Takaful solutions. The non-motor Takaful solutions cover Fire, Construction, Medical and Marine Takaful.
4. Benefits Offered
- Surplus is paid at the end of the financial year on the surplus left in the risk fund, it shall be distributed to Participants on agreed ratio based on the type of Takaful plan, provided that the Participant has not incurred any claim and/or the Certificate Holder has not received any benefits payable under each type of cover under this certificate whilst it is in force.
- Protection/Coverage (guarantee and agreement to look after each other in the event of loss or damage that may be inflicted upon them)
- Investment Profit (any profits from investment is shared by participant and the operator)
5. How does Takaful work in practice?
Its as easy as 1-2-3.
1. Takaful works on the basis of an agreement made by the parties involved in the Takaful insurance scheme.
2. Each party agrees that he/she is both a participant and an operator.
3. Each party pays a premium to the scheme which is then invested in an Islamically acceptable way.
Do you have more queries about Takaful? Tell us in the comments, in the meantime, check out the Mortage Reducing Takaful Brochure or give our dedicated Takaful line a call on 0114-677-000.
Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.
HNB General Blog 