If you like the idea of risk sharing and possibly getting a surplus while being Shariah-compliant, you could consider taking a Takaful plan. Otherwise, compare both conventional policies and Takaful plans to find the one that can give you the most coverage for the contribution that you can afford.

Like conventional insurance, there are also a few other factors you need to look out for when participating in a Takaful plan. Do refer to our Guide on What to look out for when buying insurance to find out more.