Arafat Plan

(Takaful Hajj Plan)

This is a Takaful savings/investment scheme meant to achieve one of the pillars of Islam (Hajj) or umra. It is a savings toward going for pilgrimage to the Holy land of Mecca. It enables the participants to save in piece meal over a period towards the attainment of Hajj. Duration ranges from 1 year and above.


Key Features

  • Systematic savings for hajj
  • Attractive returns on investment based on the Islamic concept of Al-Mudharabah
  • Flexible maturity period ranging from 1 year and above
  • Financial protection to the dependents in the event of untimely death based on the principle of Tabarru
  • Tax relief on contributions
  • Takaful installments not forfeited in the event of cancellation
  • Anyone between the ages of 18 and 60;
Contribution Period


  • Ranging from 1 year and above
Takaful Installment
  • As low as N6000.00 (Six thousand naira) per month
Mode of Payment
  • Direct payment by cash or cheque
  • Bank internet transfer
  • Direct debit

Distribution of Contribution

  • A larger proportion of the contribution will be credited into the Participant’s Account (PA) as savings towards hajj. The account is also credited with the Participant’s share of the profit
    The balance (smaller portion) will be credited into the Participant’s Special Account (PSA) as “Tabarru” for the payment of death benefits.

Payment of Benefits

On Maturity:

  • The total amount in the Participant’s Account plus profit sharing;
  • The net surplus 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

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