Noor Flexip Family Takaful Plan

What is this product about?

Important Notice

Participating In A Family Takaful Plan Is A Long Term Financial Commitment. You Must Choose The Type Of Plan That Best Suits Your Personal Needs. You Should Read And Understand The Takaful Certificate And Discuss With The Agent Or Contact Noor Takaful Directly For More Information.

This Plan offers a combination of takaful protection, savings, and investment. Flexip is a long-term plan with in-built flexibility to cash out a fixed percentage at periodic intervals, thereby meeting the short-term objectives of the participant. The plan thus balances the long-term security and short-term liquidity objectives of today’s participants. It is a living benefit Certificate that not only provides all year protection but also pays out steadily while the participant is still alive.

What are the covers/benefits provided?

In the event of death of the participant during the takaful period, the Sum Covered plus accumulated amount in the Participant Investment Account (balance in PIA and profit) shall be payable to the participant’s named Nominee(s). While during the takaful period, the participant can cash out a fixed percentage of the amount in PIA at three {3) equal interval of the takaful duration.

Upon Maturity

Balance in the PIA, inclusive of investment income from the PIA and distributable mortality surplus from the Participant Risk Fund (PRF) shall be payable to the Participant.

Takaful Certificate Surrender

upon termination, Benefit Amount accumulated in the PIA, inclusive of investment income from the PIA after deducting the administration fee from the balance in Participant Investment Account, is payable upon the surrender of the Takaful Certificate.