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Senior Citizen Takaful

  • Mohd Ma’Sum Billah
Chapter

Abstract

Senior Citizen Takaful is an individual Takaful plan that provides protection against the financial impact arising from the untimely death of the policyholder. The plan is specially designed for those who are between 50 and 80 years of age, to help them take better control of their life during their golden years. The policy certificate duration ranges from 5 to 35 years. Contributions are payable until the policy matures, upon which the maturity benefit, being the accumulated contribution (net of any charges) in the Personal Risk Investment Account (PRIA), is payable.

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Mohd Ma’Sum Billah
    • 1
  1. 1.Professor of Finance, Insurance, Fintech and Investment Islamic Economics InstituteKing Abdulaziz UniversityJaddahKingdom of Saudi Arabia

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