Top 3 Takaful Travel Plans for 2019
Do I really need a Takaful travel plan?
Well, if you enjoy peace of mind when travelling, then yes, you do need a good travel plan on your side! A Takaful travel plan makes more sense for Muslim travellers when compared to conventional travel insurance since it is shariah-compliant.
Coverage from these plans can help financially if you happen to be inconvenienced by things like delayed and missed flights, lost baggage and personal money, as well as a host of other travel troubles.
Why pay for these travel nuisances out of your own pocket, when a Takaful travel plan can cover you for a small contribution; Takaful travel plans (and conventional insurance) are highly affordable. For instance, a 10-day, single-trip plan for travel to Thailand costs anywhere from RM19 to RM90, which is a reasonable sum, when compared to the coverage amount. See how you can combine weekends and public holidays for a long vacation with this infographic.
Generally, the higher the contribution (or premium), the higher the coverage amount and number of benefits offered. Though, that’s not always the case. Thus, you’ll want to use a comparison tool to help you research the benefits on offer and compare prices.
Now if you get hurt and require medical care while overseas, know that Takaful travel plans typically come with medical coverage and personal accident benefits as well as emergency assistance.
How are Takaful travel plans different from conventional travel insurance plans?
When you buy conventional travel insurance, you are basically in contract with the insurance provider alone. However, participation in a Takaful travel plan is based on the concept of mutual help between the contributors (policyholders or participants) of a Takaful fund.
Even though conventional travel insurance is capable of stellar coverage, it doesn’t necessarily adhere to the needs of Muslims, in that, it isn’t Shariah-compliant.
Takaful travel plans are appealing to Muslims because of the Shariah concepts applied i.e. Iltizam bi Al Tabarru’ (commitment to donate), Tabarru’ (charity) and Ta’awun (mutual assistance).
Performing the Haj and Umrah?
If you are travelling to Mecca for the Haj and Umrah, a Takaful plan would be perfect for you without worrying about any financial burden that may arise from any unfortunate events.
Most plans cover medical care and travel inconveniences such as delayed or lost luggage, flight delays, and cancellations as well. Worried about the dangers of terrorism? In some cases, there are Takaful travel plans that also include financial protection against cases of terrorism.
Of course, keep in mind that all Takaful travel plans are based on the principles of Islamic cooperative and mutual insurance, thereby ensuring that they are Shariah-compliant.
What extras come with a Takaful travel plan?
Apart from being Shariah-compliant, a Takaful travel plan often caters to Muslims by providing special benefits (sometimes optional), which are reflective of the faith.
For instance, Badal Hajj is an optional Takaful benefit that allows a proxy to perform hajj on behalf of the Takaful participant (policyholder) if an unfortunate incident (death or total permanent disability) occurs, leaving the participant unable to perform the duty his or herself.
Some Takaful plans may also offer Waqaf services, where a sum is deducted from the pay-out to fulfil the Waqaf ibadah. The Waqaf service enables Takaful participants to fulfil their charitable obligations even after permanent disablement or death.
Another benefit that may be offered by Takaful travel plans are Qurban services. This benefit allocates a sum (from the benefit pay-out) to perform Qurban ibadah in the event of death or total permanent disability.
Top 3 Takaful Travel Plans
We couldn’t bear to let you take a trip without telling you all about our top three Takaful travel picks for 2018!
These plans offer excellent support for Muslim travellers with travel inconvenience benefits, medical and personal accident coverage as well as special optional benefits.
1. Hong Leong MSIG Takaful Plan 2
This plan provides a rather high coverage amount of RM300, 000 for medical expenses and personal accidents (pay-out), respectively. Furthermore, if you require follow-up medical treatments when you are back home in Malaysia, you may claim up to RM15, 000 for such expenses.
We also like that this plan, while affordable, provides high coverage for emergencies. RM750, 000 is allotted for emergency repatriation and evacuation (to medical facilities), respectively. Emergency assistance is available 24-hours a day as well!
You are also covered for things like loss of bags, belongings, passports and personal documents as well as delayed, cancelled and interrupted flights.
In terms of special Takaful benefits, Badal Hajj (RM2, 500), Waqaf (RM500) and Qurban (RM750) services are covered from the benefit pay-out.
However, do note that there are a number of expenses not included in the plan. Alternative medicine, loss of personal money, overbooked flights, missed connections as well as kidnap and ransom, are not covered.
2. Takaful Ikhlas Kembara Plus
This travel policy is an affordable option with plenty of benefits which include medical expenses, personal accident pay-outs, hospital allowances, and even follow-up treatment when you get back home. There’s also a small benefit of RM1, 000 for treatments that involve alternative medicines.
If the worst happens while you’re on your trip, this plan provides a RM5,000 funeral expense benefit to help your family cover related costs.
However, this plan is only for international travel and does not provide cover in Malaysia. Also, since this is an outbound plan, certain benefits only apply when you are departing from Malaysia. Thus, missing your flight when you are headed back home will not be covered. Do check the product disclosure sheet for a full list of benefits that apply only for outbound travel.
3. Hong Leong MSIG Takaful Plan 1
If you’d like a Takaful plan with similar benefits as the Hong Leong MSIG Takaful Plan 2, but want to spend less on your contributions, then this one might be of interest to you!
A notable difference in the level of coverage can be seen with the medical expense and personal accident benefit, which is set at RM200, 000 (RM100, 000 lesser than Plan 2) for each claim.
Otherwise and expectedly, the same expenses that aren’t covered by Plan 2 i.e. alternative medicine, missed connections and others, are also not covered by this plan.
Now if you are worried about the possibly of receiving emergency assistance when you need it, fret not, it’s still offered with this plan! The deductions for Waqaf, Badal Hajj and Qurban also remain the same.