Takaful Life Insurance
Insurance services and programs provided by the
Egyptian Life Takaful Company are offered within Banque Misr Islamic branches
(which are 11 branches in the first phase). These services are considered part
of the advanced services provided by modern commercial banks and serve the wide
family segment among Banque Misr’s clients.
The concept of
Takaful Insurance is provided in accordance with
Islamic provisions to establish the principle of Takaful via legitimate
practices based on the principles of common responsibilities, mutual
cooperation and solidarity to protect against specific risk.
Principles of Takaful
Contributions paid by the policyholders are
channeled towards the company as donations to the Takaful Fund and then
invested in Shariah-compliant investments.
At the end of each financial year, the balance of
this fund is determined, according to which:
In the case of surplus in the Takaful Fund,
the surplus shall be distributed between the company and the policyholders, in
accordance with the rules established by the company’s Board of Directors.
In the event of a deficit in the Takaful
Fund, the shareholders will grant the fund an interest-free loan to be repaid
from the fund's surplus in upcoming years.
What added value does
this service provide to our clients?
Egyptian Life Takaful
The Egyptian Life Takaful Company was established
in 2006 and is the first company providing Takaful Insurance in Egypt that is
specialized in life insurance. The majority share of the company was acquired
by the Gulf Insurance Group in 2011.
Egyptian Life Takaful
Gulf Insurance Group
Gulf Insurance Group has a presence in the Middle
East and North Africa and includes more than 1,200 insurance experts and 50
branches spread across the Middle East and North Africa.
available through Egyptian Life Takaful Company:
1. Prestige Product
2. Pre-retirement Product (I Relax)
3. Education Product (I Study)
4. Marriage Product - Starting Professional Life
5. Emergency Events Program - Coverage of
Expenses of Accidents (I Guard)
6. Emergency Events Program - Women’s Product (I
7. Emergency Events Program - Credit Insurance