SHARE ‘N CARE

SAVINGS PL AN
D E AT H C L A I M
• Mr Ibad Khan approach a takaful company to arrange a unit linked
takaful cover. He provided the following information:

Gender: Male
Profession : DC
Monthly income:250,000/-
Health : medically fit, no family history of natural deaths before 55 years of age.
Beneficiary : Shereen Bibi
Sum assured: 2000,0000/-
Duration of cover:20 years
Risk date: march,5 2009
Riders benefits: FIB At 20% for 20 years , AIB.

After looking the results of medical examination the underwriters puts Mr. M.Shah into the standard risk
class, and set annual contribution rate of 100,000/-.
• After contribution of 100,000/- annually for 7 years, Murad shah die in a road accident.
Ms:Shereen Bibi beneficiary inform the Takaful company operator about of her husband
death, and explains that he was covered, she also make a death certificate of her husband.
After checking their records the calm form issued, the claim determent calculates the amount of the
death claim to make payment .

Claim deptement :calculate as follows:

Last contribution paid: March, 2015
Date of death: march 3,2015
Cause of death: Road accident
Cash value of unit allocation in the 7 years=30,000/-
• AMOUNTS PAYABLE IN DEATH CLAIM:
• Sum assured:2000,000--------1

• AIB :2000,000---------------------2
• FIB AT 20% to paid in installments over 13 years, remaining term cover
(2000,000 x 0.2x13)= 5200,000--------------3

Cash value of unit allocated:30,000-------4

Total :(1+2+3+4)= 9200,000

• End.