Loss of life takaful plans

FWD Future First is an investment-linked (IL) takaful plan that allows you to achieve a right balance in your protection needs and investing monies to secure your retirement with a minimum sum covered of RM 100,000. It helps to magnify your savings while protecting your finances, enabling you to grow your wealth and at the same time secure it, should anything unfortunate ever happen to you.

We manage your contribution and our takaful operations based on the Shariah contract of wakalah, and guided by our Shariah committee. 

• Takaful is a mutual assistance scheme based on the spirit of brotherhood and solidarity where you and others agree to assist each other financially if any one of you suffers a specific loss. 

The contributions you pay for cover under your certificate is subject to a wakalah fee. 

• Wakalah is the appointment by one party of another to act on his/her behalf. 

We pay your contributions, less the wakalah fee, into our Participants’ Risk Fund (PRF) as tabarru’. Funds in PRF are used to pay the benefits to claimants who are entitled to it based on: the solidarity of brotherhood and cooperation among the participants, and subject to terms & conditions. 

• Tabarru’ is a donation for the purpose of takaful.

If the value of PRF is insufficient to pay the claims, then we will pay Qard which is an interest-free loan to PRF. In case of the good performance of the PRF, we will be rewarded 50% of the surplus as Ju’alah and the remaining 50% will be distributed to participants.

Your contribution depends on the following criteria regarding the family members covered under the certificate: 

• Age 

• Health status 

• Smoker status 

• Gender 

• Amount of coverage 

• Term of coverage

• Occupation

• Payment frequency