What is the Takaful IKHLAS Comprehensive Private Car product about?
This Takaful Certificate provides coverage against liabilities to other parties for injury or death, damage to other parties’ property, and accidental or fire damage to your vehicle or theft of your vehicle.
What are the Shariah concepts applicable?
- Tabarru’ - means donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help Takaful Participants in times of misfortune. In the context of Takaful IKHLAS, Tabarru’ will be allocated into the Risk Fund.
- Wakalah - means agency. In this context, it refers to a contract between Company and the Takaful Participant where the Takaful Participant authorizes the Company to manage the fund on his/her behalf, which allows the Company to charge a Wakalah fee.
How much Takaful contribution do I have to pay?
There are several factors that will affect your premium calculation. Some of them are risk assessment factors that include personal details of the driver as well. Here are some of the things that might increase or decrease your premium rates;
- Value of the vehicle
- Engine capacity
- Sum Insured
- Age of Driver
- Occupation and Education
- Place of Residence
- Claim history
Of course any premium you pay will be inclusive of both SST and Stamp Duty fees.
What are the optional benefits that come with this product?
Optional benefits that you may wish to extend the coverage by paying additional Takaful Contribution are as follows,
- Strike, riot and civil commotion.
- Windscreen, window or sunroof damage.
- Damage arising from acts of nature.
- Passenger liability cover.
- Vehicle Accessories
- Current year no-claim-discount relief.
Duration of cover is for one year. You need to renew the Takaful Certificate annually.
Can I cancel my Takaful certificate?
You may cancel your Takaful Certificate by giving a written notice to Takaful IKHLAS. Upon cancellation, you are entitled to a refund of the pro rata Takaful Contribution, subject to the minimum Takaful Contribution of RM50.00 to be retained by Takaful IKHLAS. No refund of Takaful Contribution is allowed when a claim has been made.