New Takaful Plan Allows Up to 30% of Death Benefit for Charitable Waqf

Great Eastern Takaful Berhad (GETB) has introduced i-Great Mega Plus, a new family takaful plan designed to integrate charitable giving with financial planning. This innovative product allows policyholders to designate a portion of their death benefit for Waqf, a form of Islamic charitable endowment.

Under the i-Great Mega Plus plan, participants have the flexibility to allocate up to 30% of their total death benefit towards Waqf. These funds can be directed to designated Waqf institutions, enabling policyholders to fulfill their philanthropic goals even after their passing. This feature aims to provide a structured and accessible way for individuals to contribute to charitable causes.

Rashida Mior Ahmad Darwish, Chief Marketing Officer at GETB, highlighted that the Waqf facility is a primary distinguishing feature of the plan. Alongside this, the plan also incorporates Hibah, or gift, which is a crucial component for estate planning. The combination of Waqf and Hibah aims to offer comprehensive financial solutions that cater to both the spiritual and practical needs of participants.

The introduction of i-Great Mega Plus reflects a growing trend in the financial services industry to offer products that align with customers' values and provide opportunities for social contribution. GETB's offering seeks to empower individuals to manage their wealth effectively while making a positive impact through charitable endowments.