A conceptual study on investment-linked takaful product: protecting life and wealth for family institution

Abdul Aziz, Mariam and Redzuan, Nur Harena and Zakariyah, Habeebullah (2020) A conceptual study on investment-linked takaful product: protecting life and wealth for family institution. In: 2nd National Seminar on Contemporary Fiqh (NSCF 2020), 9th December 2020, Kuala Lumpur. (Unpublished)

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Abstract

The variety of products offered by financial institutions could overwhelm indi-viduals in their decision making. For financially savvy people, decision making is easier, but some do need guidance. Therefore, this research aims to assess the Shariah-compliant investment-linked plan takaful product that can help investors in choosing an alternative plan. An investment-linked takaful is a family takaful plan that combines investment and takaful cover. This product offers participants the freedom to choose the type and amount of takaful on the protection they need as well as the freedom to invest based on their risk appetite, financial objectives and the length of time they are willing to invest. The study also discusses the wealth protection and financial investment based on maqasid Shariah with relating to family institutions. The study would assist the individual in their invest-ment decision since this study provides information and prior knowledge to them to make an informed decision of a better takaful plan which complies with Islamic law. Besides, the undertaken research enables the public, investors, participants, and other stakeholders for a better understanding of nature, features, and structures associated with the invest-ment-linked takaful product.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	8441/87221 Presented via Zoom
Uncontrolled Keywords:	Investment-linked plan, takaful, wealth protection, financial in-vestment, maqasid Shariah.
Subjects:	BPH Islamic Economics H Social Sciences > HG Finance > HG8719 Islamic Insurance Takaful H Social Sciences > HQ The family. Marriage. Woman > HQ503 The family. Marriage. Home
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Nur Harena Redzuan
Date Deposited:	30 Dec 2020 19:06
Last Modified:	05 Jan 2021 17:30
URI:	http://irep.iium.edu.my/id/eprint/87221

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