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Fund Performance Check
What do you want to do?
Why Bengal 3 Stage Mudaraba (Endowment) Takaful?
This Family Takaful plan is a shariah compliant halal early cash mudaraba scheme. In most family takaful plans, mudaraba amount is paid to the participant after the takaful term is completed. But sometimes in way of life, it may require cash money to get support for sudden or premeditated requirements, especially for medical care, children's education, marriage, vacation etc. This “Bengal 3-Stage Mudaraba Takaful” allows the participants to receive early mudaraba amount in three instalments during the takaful term.
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This takaful policy is a decent savings scheme which helps bringing ease in life. Unlike the takaful participant dies anytime within the policy term before maturity, financial assistance will be provided from the tabarru fund to the nominee in accordance with shariah guideline.
- This takaful policy is a decent savings scheme which helps bringing ease in life. Unlike the takaful participant dies anytime within the policy term before maturity, financial assistance will be provided from the tabarru fund to the nominee in accordance with shariah guideline.
Takaful Model: Wakala-Tabarru-Mudaraba Model
The contribution made by the participant will be divided into three parts -namely a) Investment Fund (Mudaraba), b) Risk Fund (Tabarru), c) Wakala Fee (Management Expenses).
Features, terms and conditions of the scheme:
Any amount but not less than BDT 60,000
1,000 (one thousand) only
12, 15, 18, 21 and 24 years
: Yearly, Half-yearly, Quarterly or Monthly
(a) Entry age: 18 years to 53 years, (b) Maturity age: Not exceeding 65 years.
Supplementary (Ezafi) Takaful Benefits
With an additional small contribution, any or multiple of the following supplementary (Ezafi) Takaful benefits can be taken with this scheme:
a. PDAB – Accidental Death and Dismemberment Benefit
b. DIAB – Double Accidental Death Benefit
c. Health Takaful
d. Upon Critical Illness Takaful
Eligibility of Takaful Participant:
• Takaful Participant must be in good health.
• Takaful Participant must have regular own income.
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Key Features*
Early Cash as Survival Benefits
Upon payment of due contribution, the Participant will receive-
Upon payment of due contribution, the Participant will receive-
- a. after one-third of the policy term 75% of the PIF
- b. after two-third of the policy term 75% of the balance PIF.
- a. after one-third of the policy term 75% of the PIF
- b. after two-third of the policy term 75% of the balance PIF.
Early Cash as Survival Benefits -
Key Features*
Maturity Benefit
All the balance Mudaraba Fund (PIF) along with accrued profit/loss in accordance with the Mudaraba Principles after adjusting the earlier payments.
All the balance Mudaraba Fund (PIF) along with accrued profit/loss in accordance with the Mudaraba Principles after adjusting the earlier payments.
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
Maturity Benefit -
Key Features*
Financial Benefit on Death
Subject to takaful being in force, on death of the participant before the maturity date payment will be made to the nominee(s) in accordance with the shariah principles as –
Subject to takaful being in force, on death of the participant before the maturity date payment will be made to the nominee(s) in accordance with the shariah principles as –
- (a) Participant’s all contribution to the Mudaraba Fund (PIF) with accumulated profit/loss in accordance with the Mudaraba Principles till death after adjusting the earlier payment(s);
- (b) Adjusted Face Value (FV-Deposited Contribution in the Mudaraba Fund) from Tabarru as per Principles of Tabarru Fund.
- (a) Participant’s all contribution to the Mudaraba Fund (PIF) with accumulated profit/loss in accordance with the Mudaraba Principles till death after adjusting the earlier payment(s);
- (b) Adjusted Face Value (FV-Deposited Contribution in the Mudaraba Fund) Comming from Tabarru as per Principles of Tabarru Fund.
Financial Benefit on Death -
Key Features*
Surrender Value
If payment of contribution is ceased within the first year or payment made till 12 months term of the Takaful contract, the entire capital deposited in the Mudaraba Fund (PIF) will be transferred to the PTF as Tabarru on a unilateral promise in writing by the participant.
If payment of contribution is ceased within the first year or payment made till 12 months term of the Takaful contract, the entire capital deposited in the Mudaraba Fund (PIF) will be transferred to the PTF as Tabarru on a unilateral promise in writing by the participant.
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
Surrender Value -
Key Features*
Withdrawal of Mudaraba Fund
After full two years of payment of contribution, the Takaful participant can withdraw up to 50% of his deposited Mudaraba fund.
After full two years of payment of contribution, the Takaful participant can withdraw up to 50% of his deposited Mudaraba fund
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
Withdrawal of Mudaraba FundKey Features*Income Tax Rebate
Income tax rebate is available on contributions made under this Takaful.
Income tax rebate is available on contributions made under this Takaful.
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
- Key Features Comming Soon
Income Tax RebateCheck Eligibility Criteria
Before buying Bengal Islami LifeEndowment Plans Life
ELIGIBILITY CRITERIA
Plan Option
Life & CI Rebalance
Life Protect
Income Plus
Fixed Term
Whole Life
Fixed Term
Whole Life
Min. AGE AT ENTRY
18 years
18 years
45 years
30 years
45 years
Max. AGE AT ENTRY
65 years
65 years for non-PoS
60 years for PoS
65 years
50 years
10 Pay: 50 years
Single Pay,
5 Pay: 55 years
Min. AGE AT MATURITY
28 years
18 years for non-PoS
23 years for PoS
Whole of Life
70 years
Whole of Life
Max. AGE AT MATURITY
75 years
85 years for non-PoS
65 years for PoS
Whole of Life
85 years
Whole of Life
Min. POLICY TERM
10 years
Single Pay :
1 month for Non-PoS
5 years for PoS
Regular Pay : 5 years
Limited Pay : 6 years
Whole of Life
70 years – Age at Entry
Whole of Life
Max. POLICY TERM
30 years
85 years - Age at Entry for non-PoS
65 years - Age at Entry for PoS
Whole of Life
40 years
Whole of Life
PREMIUM PAYMENT TERM
Single Pay, Regular Pay, Limited Pay (5 to any PPT less than PT)
Limited Pay (5, 10, 15 pay)
Single Pay, Limited Pay (5, 10 pay)
Min. BASIC SUM ASSURED
₹ 20,00,000
₹ 50,000
Max. BASIC SUM ASSURED
No limit, subject to Board Approved Underwriting Policy (BAUP)
All ages are expressed as on last birthday. For all ages, risk commences from the date of inception of the contract. For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decisionTerm Insurance is incomplete without riders
Riders in insurance have an important part in contingency planning.
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Bengal Islami Life Income Benefit on Accidental Disability Rider
Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident
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Bengal Islami Life Critical Illness Plus Rider
We pay a lump sum amount equal to the Sum Assured upfront if diagnosed with of any of the specified critical illnesses
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Bengal Islami Life Protect Plus Rider
Get protected with a proportion of Rider Sum Assured in case of accidental death or partial/total disability due to accident or diagnosed with Cancer.
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