Definition and Importance of Group Credit Takaful:
Benefits and Coverages
Basic Coverage:
Death due to any Cause
Key features & coverage :
Death any Cause :
- In the event of the covered person’s death during the validity of the policy ( due to any cause ), the company pays the outstanding loan balance.
- Coverage is valid up to age 70 y.
Permenant Total disability ( PTD ) due to accident or sickness:
- PTD refers to an incurable condition that results in the absolute and permentant inability of the covered person to engage in any occupation or activity that generates income or profit.
- Disability must occur during the Coverage period and before the covered person reaches the age 65, or before the end of the master Policy-whichever comes first.
- The disability must persist continuously for at least 6 months, with no expected recovery.
- In such cases, the company will settle the Outstanding loan balance.
