(Takaful Family Income Plan)

Takaful in Arabic means “Joint Guarantee”This is a savings plan that has basic life cover. It provides potential policyholders the maximization of medium or long term savings. It provides a tax free lump sum at the end of the selected policy duration of the plan.


The Al-ISTIDAD PLAN (Takaful Family Income Plan) “Verily, it is better for you to leave your offspring (heirs) wealthy than to leave them poor asking others for help…” “The one who looks after and works for a widow and for a poor person is like a warrior fighting for Allah’s cause…” – Prophet Mohammed (PBUH) (Hadith by Sahih al-Bukhari, as narrated by Amir bin Saad bin Abi Waqqas)

With this plan you can save regularly for a fixed period with a view of creating a contingency fund for yourself and your family for future use.


  • Flexible contributions
  • Long-term financial programme to facilitate the creation of personal savings, contingency fund, e.t.c
  • Returns on investment based on the Islamic concept of Al-Mudharabah
  • Flexible maturity period
  • Flexible maturity period
  • Tax relief on contributions
  • Takaful installments not forfeited in the event of cancellation
  • Part-withdrawal allowed
  • A simple and transparent plan


  • Anyone between the ages of 18 and 60;
Maturity Period in Years
  • 5, 10, 15, 20, 25, 30 and 35
Payment of Benefits
On Maturity:
  • The total amount in the Participant’s Account plus profit sharing
  • The net surplus if any allocated to the Participant’s Special Account based on the last actuarial valuation.
On Death:
  • The total amount in the Participant’s Account plus profit sharing.
  • The total future contributions payable from the date of death to maturity date of the Plan.
On Surrender:
Payment of the amount in the Participant’s Account plus profit sharing.
(with terms)
Minimum Contribution
  • As low as N 6,000.00 (Six thousand naira) per month
Distribution of Contribution
  • A larger proportion of the contribution will be credited into the Participant’s Account (PA) as savings. The account is also credited with the Participant’s share of profit.
  • The balance (smaller portion) will be credited into the Participant’s Special Account (PSA) as “Tabarru” for the beneficiaries of the account holder.

Payment Methods

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