Private Banking

Takaful programme

Al Islami Takaful Programme - Helping you take care of each other

“The relationship of the believer with another believer is like the bricks of a building, each strengthens the other.” Hadith Sharif, narrated by Al-Bukhari and Muslim

At Dubai Islamic Bank, it is our endeavour to bring you a host of world class products which are in compliance with our beliefs.

Takaful Savings Programmes combine savings and investment plans that offer you peace of mind and takes care of the future of your loved ones with a provision for the payment of Takaful benefits to your beneficiaries or heirs in the unfortunate event of your death.

The Al Islami Takaful Programme from Dubai Islamic Bank combines savings and investment plans with a personal Takaful protection that gives you peace of mind, in the knowledge that the future of your loved ones are provided for.

As an individual you have many dreams…

A day when your child graduates from a prestigious university
A day when your child gets married
A day when you relax in the comfort of your dream home
A day when you start leading a retired life with enough savings to take care of you and much more

There's nothing better than the Al Islami Takaful Programme to plan a happy future. Based on your savings capacity, Al Islami Takaful Programme offers you a range of investment options to suit your risk profile, with flexible payment options – starting from monthly contributions to one time lumpsum contribution and period of your choice.

How does Takaful work?
Takaful offers two benefits – Savings and Protection. In a Takaful plan, a portion of your contribution (Tabarru’at’) that you wish to save goes into a solidarity fund. Contributors to the fund agree to share defined financial losses to be paid out of defined financial resources. This is for the common good of the people participating in the programme with the aim of diminishing and spreading serious losses resulting from certain adverse events. The other portion which is the savings portion, is invested in Sharia-compliant funds to offer you attractive returns.

In a gist, the programme provides you with a completely Sharia-compliant alternative to conventional life insurance, so you don’t have to compromise on your principles.

Plan 1-Al Islami Takaful & Investment Programme*
FEATURES AND BENEFITS:

You make a lump sum contribution to the programme. While a small portion of your contribution (Tabarru’at’) goes to a solidarity ‘Takaful’ fund, the remainder is invested in one of the two Sharia- compliant investment strategies- Cash or Equity.
The policies are approved instantly and certificates issued on the spot.
No medical examination is required, all you need to do is just fill in a simple health declaration.
You can choose the term of your plan (from 3 to 30 years).
You can start with a minimum investment of AED 50,000 lumpsum. You have the flexibility to increase your contributions whenever you want through additional lumpsum payments.
You are automatically covered by a supplementary Takaful benefit in case of death between the time of issuing the certificate and the contract start date. The amount is equal to the Takaful Benefits payable upon death at the contract start date.
You can choose from two Sharia-compliant investment strategies that best suits your unique personal risk profile:

Cash Strategies:

Equity Strategies:

Conservative Investment Profile
Balanced Investment Profile
Growth Investment Profile

You have the flexibility to switch between investment options at any time or choose a combination of the two mechanisms, make partial withdrawals and early encashments or even continue your investment plan after maturity.
Annual solidarity ‘Takaful’ fund surpluses are distributed among all participants, proportionate to their contribution.
You can appoint up to four beneficiaries (Option to change them throughout the term of the investment).

Plan 2-Al Islami Takaful & Savings Programme*
FEATURES AND BENEFITS:

You make regular contributions to the programme. While a small portion of your contribution (Tabarru’at’) goes to a solidarity 'takaful' fund, the remainder is invested in one of the two Sharia-compliant strategies- Cash or Equity.
The policies are approved instantly and certificates issued on the spot.
No medical examination is required, all you need to do is just fill in a simple health declaration.
You can choose the term of your plan (from 7 to 30 years).
You can start with a minimum investment of AED 500 per month. You have the flexibility to increase or decrease your contributions whenever you want and even defer your contributions for up to 12 months. Contributions can be made monthly, quarterly, half yearly or annually based on the minimum amount.
You are automatically covered by a supplementary Takaful benefit in case of death between the time of issuing the certificate and the contract start date. The amount is equal to the Takaful Benefits payable upon death at the contract start date.
You can choose from two Sharia-compliant investment strategies that best suits your unique personal risk profile:

Cash Strategies:

Equity Strategies:

You can choose from three Sharia-compliant investment options that best suits your unique personal risk profile:
- Conservative Investment Profile
- Balanced Investment Profile
- Growth Investment Profile
These three professionally-managed mechanisms offer your contribution an easy and convenient way to grow.
You have the flexibility to switch between investment options at any time, make partial withdrawals and early encashments or even continue your investment plan after maturity.
Annual solidarity 'Takaful' fund surpluses are distributed among all participants, proportionate to their contribution.
You can appoint up to four beneficiaries (Option to alter them throughout the term of the investment).

How do I apply?

How much to invest/save
The term you should choose
Which plan will help you achieve your desired maturity amount
Which investment/savings mechanisms are best for you