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!
The Benefits:
Family Takaful Cover : A built-in Benefit that provides a lump sum payment if the Covered Member passes away during the term of the Plan.
Permanent and Total Disability : This built-in Benefit provides a lump sum payment if, as a result of a sickness or an accident, the Covered Member becomes permanently and totally disabled, losing the ability to work and earn an income for a period of at least 6 consecutive months. If a Permanent and Total Disability claim is paid, the Family Takaful cover will be reduced by the amount paid.
Terminal Illness : This optional Benefit pays a lump sum payment as an accelerated payment of the Family Takaful Benefit if the Covered Member is diagnosed as being terminally ill with a life expectancy of less than 6 months within the Plan term. If a Terminal Illness claim is paid, the Family Takaful cover will be reduced by the amount paid.
