SALAMA - Family Takaful Products
BAITY FINANCE PROTECTION PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
Make Your Home Secure!
They say a man’s home is his castle. It is also one of the single most important and expensive purchases that you will make. Buying a home marks a crucial turning point in your life. Apart from providing your family with a blanket of security, it also instils a sense of pride and well being.
But, as you also know, the joy of owning a home comes with its fair share of responsibility. For instance, Home Finance repayment demands a long-term financial commitment from you. You also need to take into account that the future is unpredictable and there is always an element of risk involved. What happens in the event of an unforeseen circumstance? You certainly wouldn’t want the financial burden to fall on your family, would you? Putting certain checks and balances in place is important if you want to secure the future of your family and home together.
We know the path is not always smooth. For this reason we have designed BAITY to ensure that your Home Finance commitment can be met should something happen to you.
With BAITY, you can enjoy peace of mind that does not cost the earth!
HEMAYA FAMILY TAKAFUL PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
The Future is Unpredictable!
They say one of the few constant factors is change. Having the wisdom and knowledge does not mean that we know what the future holds for us. Irrespective of the undulating nature of our path, what should not change is the ability to provide for ourselves and our family.
The joy of our lives and family can be overshadowed by the fear of early loss of life, the inability to work, or an unexpected illness or disability. The consequences could be that our families may not be able to cope financially.
Protecting ourselves against the unforeseen is something that none of us can afford to ignore. HEMAYA is the solution for the cost conscious.
SALAMA has designed HEMAYA with the aim of providing you and your family with financial security and peace of mind when you need it most.
HYAT, THE UNIVERSAL TAKAFUL PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
Changing Priorities in a Changing World!
The course of life is shaped by many events such as graduation, landing your first job, buying a home, getting married, starting a family and saving for retirement.
Your protection and investment needs will certainly change throughout your life. For single people, short-term savings are likely to be the highest priority. The priority for married people with children moves towards financial protection of the family. The need for protection decreases as the children grow up and leave home and investment for retirement becomes a growing priority.
No matter where you are in your life's journey, establishing a sound financial base through regular savings will help.
With this in mind, SALAMA has designed HYAT to provide you with lifetime financial security with the flexibility to change in response to your changing needs and aspirations.
IDIKHAR SAVINGS PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
Investing for Tomorrow!
Investments, Saving, Wealth Accumulation. That's all one hears across industries, across media, across events. And why is that?
We all know that saving for the future, is a wise decision to make. Be it for a dream holiday, a car, our children's future or even for the almost inevitable retirement.
Achieving any goal requires commitment and discipline. Saving and investment is no exception. Your commitment to save regularly coupled with a smart investment strategy will help you meet all your financial goals. On top of this, you need the knowledge that you can get hold of your money in the event of an emergency.
At SALAMA, we understand what it takes for you to enjoy the combination of having Family Takaful protection and increasing the value of the money you invest. We will help you plan ahead and start preparing for your future rather than leaving things to chance.
IQRA CHILD’S FUTURE PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
An Investment in your Child's Future!
There is unarguably nothing more important than receiving a good education. Everything a child becomes can be influenced by education. Little wonder then, what you invest in your child, you invest in the future.
The simple fact is the cost of education is increasing with every passing year, running in many cases, well ahead of the Rate of Inflation. The reality today is that many capable students are finding it increasingly difficult to go to college because of the strain put on financial resources.
The average tuition cost and living expenses of a 3-year degree at a private college in 2007 in Dubai is AED 372,000; in Canada AED 316,000; in USA AED 486,000; and in UK AED 462,000.
Sending your child for further education is one of your biggest responsibilities and a big commitment. At SALAMA, we understand this responsibility and its challenges.
SALAMA can help you ensure that the lack of financial resources is not a deciding factor in your child's education.
SALAMA ISTITHMAR INVESTMENT PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant)
Let Your Money Work for You!
Maximizing the potential of your investments is essential. But getting the most from them can also be complex and time consuming. SALAMA ISTITHMAR is the sophisticated solution if you are looking for affordable access to professional fund management on terms normally reserved for the largest investors. SALAMA ISTITHMAR combines security, simplicity and choice, so you can sit back and relax as your money works for you.
Whatever your reason for investing, one of the most important decisions will be how best to invest the money you are putting aside. SALAMA gives you access to a growing range of rewarding Islamic investment opportunities.
We have negotiated special arrangements so you can access top performing funds on terms not normally available to individual investors.
MAASH RETIREMENT PLAN (approved by Shari’ah Advisory Board of SALAMA and is Shari’ah Compliant) Life Begins Upon Retirement!
Does the word retirement fill you with a vague sense of foreboding or herald the prospect of a welcome and well deserved phase of life with many new opportunities? Much depends on how confident you are about the future.
More and more people are beginning to recognise that they cannot rely on the state, an employer or their family to look after them in latter years. They also realise they are likely to live longer than previously thought.
But they do want to feel secure in the knowledge that they can afford to maintain a certain lifestyle in retirement. After all, retirement is from a job, career or activity and not from life. As a result, many recognise they need to take action now
At SALAMA, we understand what it takes for you to enjoy the freedom retirement brings. We will help you plan ahead for your retirement by acting now rather than leaving things to mere chance.
HEMAYA FAMILY TAKAFUL PLAN
Hemaya Family Takaful Plan is a fixed term protection Plan. It pays out an agreed sum if the Covered Member passes away, or suffers from any covered event where the Benefit is applicable. Once the Plan is setup, the Benefit amount or the plan Term cannot be changed. The Plan will end if any of the protection Benefits are paid out, with the exception of Waiver of Contribution. This Plan is reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
HYAT, THE UNIVERSAL TAKAFUL PLAN Hyat, The Universal Takaful Plan is a life protection Plan which runs to an agreed End Date. It pays out an agreed sum if the Covered Member passes away, or suffers from a covered event where the Benefit is applicable. The Plan will end if any of the protection benefits are paid out, with the exception of Waiver of Contribution and Critical Illness Benefit. This Plan has been reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
IDIKHAR SAVINGS PLAN
Idikhar Savings Plan is a savings and fixed term protection Plan. It pays out an agreed sum during the selected term of the Plan if the Covered Member passes away, or suffers from any covered event where the Benefit is applicable. The Plan will end if any of the protection benefits are paid out, with the exception of Waiver of Contribution and Critical Illness Benefit. This plan is reviewed by the Shari'ah Advisory Board of SALAMA and is fully Shari'ah Compliant.
IQRA CHILD'S FUTURE PLAN
Iqra Child Future Plan is a variable savings and fixed term protection Plan designed principally for provision for education. It pays out an agreed sum assured during the selected term of the Plan if the Covered Member passes away, or suffers from any covered event where the Benefit is applicable. The Plan will end if any of the protection benefits are paid out, with the exception of Waiver of Contribution. This Plan is reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
ISTITHMAR INVESTMENT PLAN
Istithmar Investment Plan is a Single Contribution Investment Plan. It has no fixed term but the Plan must end on the Plan Anniversary prior to the 85th birthday of the Covered Member. You can invest for as long as you like, however, you should aim to keep your investment for at least 5 years. It has a Family Takaful Benefit which provides a small lump sum payment if the Covered Member passes away. The Plan will end if it is encashed for its full encashment value or if SALAMA pays out the Family Takaful Cover or on the Plan Anniversary prior to the 85th birthday of the Covered member. This Plan is reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
MAASH RETIRMENT PLAN
Maash Retirement Plan is a variable savings and fixed term protection Plan for retirement planning. It pays out an agreed sum during the selected term of the Plan if the Covered Member passes away, or suffers from any covered event where the Benefit is applicable. The plan will end if any of the protection Benefits are paid out, with the exception of Waiver of Contribution and Critical Illness Benefit. This Plan is reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
BAITY FINANCE PROTECTION PLAN
Baity Finance Protection Plan is a Decreasing Benefit Home Finance Protection Plan with a limited Contribution Payment Term (Example: For a Plan with Term of 15 years will have a Contribution Payment Term of 12 years). It pays out a pre-determined sum if the Covered member passes away or is diagnosed by an appointed Medical Practitioner with a Permanent and Total Disability, whichever arises first, The Benefit is payable only once. If the Benefit is paid, the Plan will be terminated automatically and no further cover will be provided.
The Benefit amount reduces on a monthly basis, decreasing to nil at the end of the Plan term. The reducing amount is pre-determined at the outset of the Plan for the whole term of the Plan. You choose the initial Benefit amount at the start of the Plan. This is normally the same as your Mortgage Finance amount at the outset. Once the Plan is setup, the Benefit amount and the Plan term cannot be changed.
As soon as the Benefit is paid out, the Plan will be terminated automatically and no further cover will be provided. If any of the Benefits have not been paid out by the end of the term of the Plan, the Plan is terminated with no value. This Plan is reviewed by the Shari'ah Advisory Board of SALAMA and is Shari'ah Compliant.
To apply
Please call 800-Noor (6667) to speak with a representative now or visit one of our branches.
