Takaful Agro Mabrur-i By Agrobank Provides Comprehensive Coverage Plan Including Badal Haji
KUALA LUMPUR – Agrobank today launches a new Family Life Takaful plan known as Takaful Agro Mabrur-i, a comprehensive takaful protection plan that offers additional benefit such as the badal hajj and cash waqaf to its Muslim customers.
The badal hajj benefit is a new coverage included in the Takaful Agro Mabrur-i plan of which upon the death or permanent total disability of the participant during the coverage period, the benefit will be paid to the badal hajj nominee to perform hajj on behalf of the participant.
According to Dato’ Wan Mohd Fadzmi Wan Othman, President/ Chief Executive Officer of Agrobank, the Takaful Agro Mabrur-i is a new addition in the banks takaful product array. Our first takaful plan known as Takaful Kasih-i and Takaful Kasih-i Plus which offer a personal accident protection have received encouraging response from our customers nationwide and the boost in the sales has inspired us to come out with a more comprehensive coverage plan that can cover both accidental and natural death and disability with additional benefit (badal hajj) to attract our Muslim customers.
Unlike Takaful Kasih Plus which targets a low income group, the new Takaful Agro Mabrur-i focuses on a slightly higher income segment and we expect to attract 5,000 customers in the first year of its launch with total targeted premium of RM3 million, said Dato’ Wan Mohd Fadzmi.
Agrobank offers two categories of Takaful Mabrur- i which is for individual customers and group customers. Individual customer can purchase the plan annually for as low as RM75 (total benefit RM31k), RM135 (total benefit RM57k) and RM195 (total benefit RM85k). Group packages can also be subscribed annually at RM40 (total benefit RM15k) and RM60 (total benefit RM20k) per year and is offered to the government agencies, companies, organisations and other clients who subscribe the product for their employees or members.
The launch of Takaful Agro Mabrur- i was officiated by YB Datuk Johari Bin Abdul Ghani, Deputy Finance Minister at Agrobanks headquarters. At the ceremony, YB Datuk Johari also presented Takaful-Mabrur- i cards to 50 underprivileged individuals around Kuala Lumpur, sponsored by Agrobank with total coverage of of RM750k.
From January 2015- February 2016, total takaful sales for consumer segment is RM18million, sales for banca takaful for individual product is RM6mil and sales for takaful product for commercial and SME segment is RM400k. The total sales for Agrobanks takaful product is RM24.3 million.
As part of its strategic marketing, Agrobank also plans to collaborate with Pusat Zakat, Baitulmal, state agencies and mosques.