Can Takaful give you the same amount of coverage for the same price as conventional insurance?
Description |
Takaful |
Conventional |
Annual Premium/Contribution (RM) |
2,400 |
2,400 |
Annual Coverage (RM) |
100,000 |
100,000 |
Source: We compared the prices and coverage for conventional policies against Takaful certificates, looking at one conventional policy and one Takaful certificate.
The table above shows that you may get the similar benefits for the similar rate or price from Takaful or conventional insurance products, depending on the chosen plan.
There are also some Takaful operators which offer value for money products with similar coverage for lower annual premiums.
Whether you are looking at Takaful or conventional insurance, you should always compare certificates/ policies before signing up for one. Click here for a comparison of some of the insurance policies available.