Under Group Credit Takaful each borrower of the Participant is covered for outstanding balance of financing. The compensation due to the Participant is the scheduled amount outstanding on the date of death of the borrower. BROCHURE

This Plan is suitable for banks, financial institutions, and corporates which provide financing facilities for house building, purchase of conveyance, purchase of household items, or for any other purposes.

It provides financial security to lending institutions against the risk of untimely death of their indebted borrower. In most circumstances the deceased family members are not in position to repay the loans particularly if the deceased person was the head of family. Therefore, the Plan provides relief to the creditor without the hassle of recovery and causing additional hardship to the bereaved family.

Admissible Ages and Terms
The minimum and maximum ages at entry are 18 years and 64 years.

Benefits Payable on Death During Coverage
In case of death of the person covered during the covered period, the Sum Covered (Out Standing Loan Balance) will be payable to the employer/ participant.

Minimum and Maximum Sum Covered
The minimum acceptable Sum Covered will be the outstanding loan balance at the time of entry. The maximum Sum Assured is subject to the non medical and company underwriting limits.

(a) Accidental Disability Benefits
Under Accidental Disability if any person covered sustains bodily injuries effected solely through external, violent and purely accidental means, and within ninety (90) days after such injuries are incurred, shall suffer losses, compensation will be paid to the Participant for the benefit of the person covered as per the following schedules:

Permanent Total Disability
If a covered member sustains bodily injuries and suffers losses which are ‘permanent and total’ the following compensation will be paid to the Participant for the benefit of the covered member:

Description of Injuries Compensation
( % of Sum Covered )
Loss of both hands or amputation at higher sides 100%
Loss of hand and a foot 100%
Double amputation through leg or thigh amputation through leg or thigh on one side and loss of other foot 100%
Loss of sight to such an extent as to render the claimant unable to perform any work for which eye-sight is essential 100%
Very severe facial disfigurement 100%
Absolute deafness 100%

(b) Natural Disability Benefit
Under Natural Disability if any person covered, suffers ‘permanent total disability’ due to natural causes which renders such person incapable of performing his duties and being gainfully employed otherwise, the full sum covered will be paid to the Participant for the benefit of the covered member.

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