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Why Bengal Mudaraba (Endowment) Takaful?

This Family Takaful plan is a shariah compliant halal mudaraba scheme. At maturity this Takaful scheme offers mudaraba sum with accrued profit grown over the policy term. The fund grows under this plan is free from Riba (interest) and it gives an Islamic Shariah based Takaful solution of savings along with financial assistance.

  • This takaful policy is a decent investment vehicle for wealth creation which helps bring ease in the old age or in case of in need. 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.

  1. This takaful policy is a decent investment vehicle for wealth creation which helps bring ease in the old age or in case of in need. 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:
Takaful Amount/Face Value

Any amount but not less than BDT 60,000

Lowest Monthly Contribution

1,000 (one thousand) only

Takaful Term

5 to 35 years

Mode of payment

: Yearly, Half-yearly, Quarterly or Monthly

Age

    (a) Entry age: 18 years to 60 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.

Benefits of the scheme

Check 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 decision

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Term 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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  • icon

    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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  • icon

    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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