Takaful Mortgage Plan is specifically designed to provide financial security for homeowners who have taken out a mortgage to purchase their property. Here’s how it works:

Coverage:

When you buy a home, especially with a mortgage, it’s essential to protect your investment. A Takaful Mortgage Plan offers coverage against various risks related to your property.
Common coverage includes protection against death, disability, or critical illness. If any of these unfortunate events occur during the mortgage period, the plan ensures that your outstanding mortgage balance is paid off.


How It Works:
You pay regular contributions (premiums) into the Takaful fund.
The pooled funds are invested in Shariah-compliant assets.
If you pass away or become permanently disabled during the mortgage term, the Takaful plan pays off the remaining mortgage amount, ensuring that your family inherits a debt-free home.
Some plans also offer additional benefits, such as waiver of contributions in case of disability or critical illness.


Peace of Mind:
Owning a home is a significant financial commitment. A Takaful Mortgage Plan provides peace of mind, knowing that your loved ones won’t face the burden of mortgage payments if something happens to you.
It aligns with Islamic principles by avoiding interest-based transactions and ensuring ethical financial protection.