Surplus Distribution to Policyholders – A hallmark of Islamic Insurance initiated by Salaam Takaful in Pakistan

TEXT: Takaful and conventional insurance at first glance may look similar, in that they both share the objective of protection against financial loss, but a closer look will reveal stark differences between the two.

Surplus sharing among the participants is something that creates quite an evident distinguishment between conventional insurance and takaful. This is the utmost unique benefit of Takaful which not only protects policyholders against unforeseen circumstances, but also qualifies them for a share in the achieved surplus based on the performance of Participants’ Takaful Fund.

Backed by its unprecedented growth and emergence as the leader in Pakistan’s Takaful industry, Salaam Takaful Limited has created history by being the first and still the only general takaful operator in Pakistan to not only initiate this process of surplus sharing with its policyholders, but also announcing distribution for the third year consecutively.

Surplus distribution doesn’t only involve the participants by enabling them to receive something back in monetary terms, but also upholds the belief in shariah-compliant solutions and resonates the fact that Takaful indeed is a better option when it comes to loss protection solutions.

Copyright Business Recorder, 2024