Executive Overview

  The range of Takaful Products offered are categorized into two areas:

A. Risk type products. These products are provided for the protection of the Participants. There is little, if any, maturity benefits payable at the end of the contracted term. There is no Participant investment component involved, therefore, such products are marked risk only.

B. Investment type products with an element of Risk. These products are generally regular savings plans where a Participant indicates his need to achieve a target savings lump sum through saving on a regular basis, by a certain time in future. The risk element under such products reduces over time as the accumulated savings increase, or can be maintained at a fixed level, depending on the type of cover chosen by the Participant at plan inception .

Our savings plans are offered under different 'labels', e.g. as a Retirement plan (to save for retirement) or as an Education plan (to save for the children's college education).

We offer a family of products comprised of four (4) main groups plus riders. Each product was designed and developed by Bank Aljazira Takaful Taawuni and approved by the Bank Aljazira Sharia Advisory Board. These products are described in detail in the subsequent sections.




Bank Aljazira Takaful Taawuni Products can be grouped into 3 basic categories with Riders that apply to contracts as needed:

Investment - Retirement, Education Plan, Marriage Plan, Term with Return of Capital,Waqf Plan , Ladies Flexible Plan, Executive Plan and Capital Plan.

Risk Only - Level Term, Keyman, Reducing Term and Increasing Term.

Group - Group Credit, Group Retirement and Group Term.

Riders - Total Permanent Disability, Partial Permanent Disability, Premium Waiver on Disability or Death, Accidental Death, Critical Illness, Family Income Benefit, Term Rider and Top-Up Rider.

Note : Bold plans are available now from Bank Aljazira.

  How can a Corporation or Individual participate ?

Bank Aljazira's Takaful Ta'awuni Program welcomes all members of the community in Saudi Arabia, locals and expatriates.

Takaful Ta'awuni Plan can be customized to meet the needs of your group or corporation, based upon the benefits it wishes to provide to its members or employees.

To know more about our Takaful Ta'awuni Program, please contact us to speak with a Corporate or Group Specialist who will be pleased to meet with your company to conduct and formulate a needs assessment, plan a Corporate Agenda of actions, and jointly develop a Takaful solution for your company that could be carried out to satisfy your needs and requirements.

You can contact us in various ways as follows:
  • Through your local Bank Aljazira Branch.
  • Bank Aljazira Head Office: 651 8070 Ext. 2007
  • Toll free number 800 244 0959
  • E-mail: infotakaful@baj.com.sa
Or for more information visit us at www.baj.com.sa
We look forward to welcoming you as a participant in Bank Aljazira's Takaful Ta'awuni Program.



Date Last Modified: 15/01/2003 © Bank Aljazira , All Rights Reserved
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