Our trust is building a workable model of takaful (Islamic insurance) in India. It is a mutual help based formula, where all participants share an amount of Rs. 2000/- per annum. They get a cover of a maximum of Rs. 1,00,000/- per annum.
Fields Covering: Medical Insurance
How does it work?
1. Each member looking to avail takaful will pay an amount of Rs. 2000/- per person.
2. The member gets a cover of Rs. 1,00,000/- per annum. If he pays Rs. 4000/-, then he gets a cover of Rs. 2,00,000/- and so on. i.e for each Rs. 1,00,000/- cover, a donation of Rs. 2000/- is to be made.
3. The member has to submit valid documents proofs of treatment to avail the insurance. Our trust will verify the documents physically and sanction the amount within 30 days from the date of application.
4. The funds are released post-treatment and not prior to treatment.
5. If the member, does not avail any insurance during the year, the amount will not be refunded.
6. However, if there is any balance remaining from the total collections at the end of the year, the balance will be equally refunded to all the members who have not availed the insurance.