"Social Takaful Insurance "Life

In order to satisfy the person need of security, after relying on Almighty God, on the future of his family members through obtaining a certain amount of money which would provide them with stability and cover their necessary expenses and achieve proper living conditions and to release the person responsibility from debits in case of Death or Total Permanent Disability.

The Islamic Insurance Company commits to pay a certain amount of money in case of the death of the insured resulting from an illness or accident during the insurance period after making sure that it doesn't contradict with rules and principles of Share'ah.

First: Individual Policies

Individual Policies: which the department issue for individuals and the individual may be Insured under one or more Insurance Policy to cover his/her financial needs in case of the death.

Takaful Insurance Programmes that issued by the Islamic Insurance Company are:

1. Educational Insurance: It covers the educational fees for the children of the insured during the insurance policy duration.
2. Level Term Insurance: It covers the financial needs of the paterfamilias in case of the death of the insured during the insurance policy period.
3. Aman Insurance (Decreasing): It covers the financial needs which decreases annually like loans, where the insured sum decreases in a fixed annual rate during the insurance policy.
4. Increasing Insurance : It covers increasing financial needs as a result of  an increase in family's expenses or inflation, where the insured sum increase annually in a fixed rate and paid in case of the paterfamilias death during the insurance period.
5. Renewable Insurance: This insurance allows the insured to renew his/her insurance policy without refilling a new application form and make new medical tests, where the insured is accepted in the same original insurance policy conditions.

* Total Permanent Disability or Temporary Disability coverage may be added to the policy in case of an accident or illness occurred to the insured.   

In order to issue this Insurance Policy the following information are needed:

1. Personal Information                                                                 
2. Health Declaration.                                                                   
3. Sum Assured.                                                                            
4. Period of Insurance.

The above info is needed to determine the insurance contribution that the insured is committed to pay as long as the insurance policy active.                                                                                           

Second: Group Policies

Which refer to the Takaful Insurance issued on the level of Organization, Companies, Institutions, Communities, and the Insurance issued in the Insurance policy is issued for all the Organization members. 

In order to issue this type of Insurance policies, the following information is needed in respect of the members to be Insured:

• Names
• Ages
• Occupations
• Sum Assured

The Islamic Insurance Company contributes in developing the economic cycle in Jordan through protecting the interests of Islamic banks and other financial institutions by paying the balance of the loan in case of death or permanent total disability of the borrower which leads to his inability to settle the loan amount.  

Therefore, the borrower is released from his debit before our Almighty God as mentioned on our Profit Mohammad Peace Be Upon Him saying that the soul of believers is attached with its debit until it's paid, and released before Islamic banks and lending institutions and achieve the principle of Social Takaful and the stability to the inheritance and other family members who have suffered from the death or disability of their sponsor .