Family Sharia insurance is an option for those of you who want to protect yourself and your family if a disaster occurs. This is because the basic concept of Sharia Insurance is mutual help. This principle makes insurance participants as a big family who help each other and help each other.
There are several sharia insurance options in Indonesia that already have affordable contributions and easy payments. You need to know, there are some very basic differences between conventional insurance and Islamic insurance. Even though they use Islamic religious rules and are supervised by the Sharia Supervisory Board, non-Muslims may also choose sharia insurance to protect themselves from risks.
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Before that, know the type of sharia insurance that you might need in the future:
Sharia health insurance
This sharia health insurance provides health costs. Health costs will be given to insurance participants through contributions that are deposited every month. This means that one participant’s contribution will cover the needs if another participant is at risk. The risks referred to include illness, surgery, and other treatments due to illness or accidents.
Well, the principle of mutual assistance is what then becomes the main foundation. While Islamic insurance companies only bridge. Usually, sharia health insurance also offers an underwriting surplus if you, as a participant, do not make a claim for 1 year and renew it the following year.
Sharia life insurance
Apart from sharia health insurance, you can consider life insurance after providing protection in the form of health insurance for yourself and family members. Moreover, if you are the main breadwinner or help a lot in the family economy.
If health insurance provides protection if the participant is sick, then life insurance will provide protection if the participant loses the ability to make a living. The protection that participants and heirs get is in the form of insurance compensation. Meanwhile, in sharia unit-linked life insurance products, apart from receiving compensation money, participants and heirs will also receive additional benefits in the form of potential investment returns.
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For that, providing the best protection is the right solution, especially if you are thinking about the future of your family, with your position as the main breadwinner. The benefits that families can receive when there is a disaster are real protection. So, don’t be late to register as an insurance participant.
Here are some choices of family sharia insurance:
1. PT Asuransi Syariah Keluarga Indonesia
The Indonesian Life Insurance Association (AAJI) said that sharia insurance was built on the principle of helping each other. On its official website, it says that PT Asuransi Syariah Keluarga Indonesia or (ASYKI) was established to help the lower middle class people who really need protection (insurance) but until now not many insurance companies have reached it.
This is Asyki’s big reason for focusing more on sharia microinsurance and working with all sharia communities and institutions from all over the region. Of course, with the principle of helping and sharing blessings, Asyki aims to provide the greatest possible contribution and benefit. The hope is for the realization of the welfare of the Indonesian people in the form of national ta’awun.
This company, which has obtained a permit from the Financial Services Authority (OJK), also operates according to microinsurance standards. The intended micro insurance standard, which has been set by the Financial Services Authority (OJK), is SMES (Simple, Easy, Economical and Immediate).
ASYKI itself has an application system and administration of insurance services that facilitate and speed up the process of insurance participation (acceptance) as well as when submitting claims. By using the Asyki system, banks or non-bank financial institutions will be greatly assisted in providing insurance programs related to their products and services to customers.
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The good news is that you can get very affordable premiums from Indonesian Family Sharia Life Insurance with the 50,000 Package Mu’awanah Family Program. The 50,000 Package Mu ´awanah Family Program is a Life Insurance Program that provides benefits in the form of death benefits if the participant dies.
The insurance benefits that will be obtained are death compensation of Rp. 5,000,000 if the participant dies due to an accident and death compensation of Rp. 2,500,000 if the participant dies not due to an accident.
Interested? Following are the membership requirements:
- The minimum age of participants is 5 years and the maximum is 65 years
- The insurance protection period is 1 year after the SMS activation is successful
- The contribution/premium paid is as a tabaru fund for 1 year
- The following are exceptions that you need to know too
- Suicide
- Acts against the law or punishable by death by court
- Engage in fights, brawls, or mass riots
- Outbreaks of disease (Epidemic)
- Abuse of Alcohol, Illegal Drugs, or Addictive Substances
- Diseases of Sexual Relations, AIDS, HIV, ARC and all its consequences
2. Family Takaful
Family Takaful is a sharia life insurance company that was a pioneer in its time. After being acquired by Kospin Jasa some time ago, Family Takaful is now strengthening its branding and providing more excellent service.
Responding to customer challenges and needs with continuous innovation, Family Takaful is committed to presenting sharia life insurance solutions for all customers. As a form of presenting solutions, Takaful Keluarga also launched its newest product Takaful Falah Series and a Customer Portal service which can be accessed through www.takaful.co.id .
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This rebranding is expected to be able to present a new experience for customers in sharia insurance. Takaful Falah Series Insurance products include Takaful Falah Protection and Takaful Falah Saving. This newest insurance product offers two benefits; financial protection and savings funds. Takaful Falah Protection is different from Takaful Falah Saving, which prioritizes financial protection for customers against life risks. Meanwhile, Takaful Falah Saving prioritizes optimal development of funds through savings. The protection element in Takaful Falah uses a tabarru contract, while the investment element uses a mudharabah contract. So, the choice is in your hands, which type of sharia insurance suits your needs and abilities.
Meanwhile, Takaful Falah targets retail customers/individuals with conservative to moderate investment profiles who wish to be insured while saving. This insurance product is marketed with a contribution value starting from IDR 300,000 and financial protection benefits (Takaful Benefits) starting from IDR 150,000,000.
As with sharia insurance in general, if the customer’s age reaches the end of the insurance agreement period, what is received is the benefit of the savings fund. However, if there is a risk to the customer’s life during the insurance contract period, you will receive financial protection benefits (Takaful Benefits) plus the balance of the savings funds that are formed.
3. Sharia ACA
ACA Syariah provides more reassuring protection for you and your family. So, you can also choose the type of insurance product according to the needs of family sharia insurance. Insurance based on sharia principles is an effort to help each other (ta’awuni) and protect (takafuli) among participants through the establishment of a collection of funds (Dana Tabarru) which are managed according to sharia principles to deal with certain risks.
Tabarru Fund is a collection of funds originating from the contributions of the Participants, whose usage mechanism is in accordance with the agreed Tabarru Agreement. While the contract is a written agreement containing certain agreements, as well as the rights and obligations of the parties in accordance with sharia principles.
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Wakalah Bil Ujrah contract is a Tijarah contract which authorizes the Company as a Participant’s representative to manage the Tabarru Fund and/or Participant Investment Fund, according to the power or arbitration granted, with a return in the form of ujroh (fee).
Participants and PT. Asuransi Central Asia Syariah (Manager) agrees to enter into a Wakalah Bil Ujroh contract for managing the tabarru fund risk. Participants agree to donate 55% of the contribution they pay as tabarru funds to help other participants who have been hit by a disaster that is covered by this policy. Managers act as representatives of participants in fund management activities and other activities. The manager will get a ujroh (fee) of 45% of the contribution. Managers and Participants agree to enter into a Mudharabah contract for tabarru fund investment activities.
Tabarru Fund investment returns will be distributed with the percentage of distribution (nisbah) as follows:
- 70% for the Manager
- 30% for Participants
If at the end of the coverage period there is a Net Operational Surplus then the results will be distributed with a percentage distribution (nisbah) of 70% for the Manager, 10% for the Tabarru reserve fund, 20% for the Participant. However, these results will be provided under the following conditions:
- The participant has never received a claim payment or is not submitting a claim
- The policy is not canceled during the coverage period
- Participants have paid the contributions that are their obligations for the period that just ended
4. Allisya care
Just like the principles of sharia insurance companies in general, AlliSya Care is a sharia-managed health insurance where participants help each other through contributions paid to deal with an unexpected event.
AlliSya Care as allianz sharia insurance provides health insurance for both individuals and families with a wide selection of Plan services.
Allianz sharia health insurance is stand-alone. It is health insurance and not a rider (additional insurance). This means, you don’t need to buy other insurance to be able to take this Allianz Sharia health insurance.
The age provisions for allianz sharia insurance are: Entry Age: 15 days – 60 years (nearest birthday); Child Age 15 days – 18 years or 23 years for students (nearest birthday); Give birth 16 (sixteen) – 45 (forty five) years for women (nearest birthday)
The contribution that must be paid per year is IDR 4,802,000. To get the Cashless Room service, participants get a fee of IDR 750,000. While Doctor visits Rp. 215,000 and Rp. 250,000 (Specialist Doctor).
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Those are some choices of sharia insurance companies that can become family sharia insurance protection. Before choosing the insurance product that you will use, make sure the amount of contribution to Islamic insurance that will be paid is in accordance with your needs. Don’t let it, you will have trouble paying contributions later on.
After that, you also have to read the rules that have been set by the sharia insurance company, especially if you have specifically allocated the sharia insurance for family insurance. Don’t hesitate to compare the type of sharia insurance that you will use, to get more complete information.