3.6 Opportunitiesfuture Career Plans?
3.6.6 Opportunitiesfuture career plans
Once I have become a Takaful Consultant, there are two steps of development ahead;
Opportunity to build your own business/Sales Career.
Opportunity for Management.
3.6.7 How can you get Carrier at DFTL??
Decision Time
YOU CAN ACHIEVE………..
IT’S UPTO YOU WHAT YOU WANT??
FINANCIAL SOLUTIONS
3.6.8 Job Description Message
I have also learn that how to do business. Which prospects must be kept in mind when doing business in Takaful? Why prospects need Takaful. Healthy …show more content…
The clients (capital providers) bear all the financial losses. Generally, these risk sharing arrangements allow the takaful operator to share in the underwriting results from operation as well as the favorable performance returns on invested premiums. Any financial profit on the investments or underwriting surplus is spilt according to a re-agreed key between the clients and the takaful operator (working partner). The sharing of such profit (surplus) may be in a ratio 5:5,6:4 etc. as mutually agreed between the contracting parties. Whilst the operator may receive advances on any projected profits, those will have to be set off against the actual profits and eventually paid back on the settlement dates should there be no (or not enough) overall profit to justify the advance payments.
3.8.2 Wakala Model for Takaful:
The Wakala variation is based upon the concept of agency and not that of a partnership. Cooperative risk sharing occurs among participants where a takaful operator earns a fee for services (as a Wakeel or Agent), usually a fixed amount or a remuneration linked to the gross contributions received. Wakeel does not participate or share in any underwriting results as these belong to participates as surplus or deficit. Under the Al-Wakala model, the operator may also charge a fund management fee and performance incentive fee.
The contributions are used to pay the Death Claims, while underwriting surpluses may be computed and distributed amongst the clients/policyholders or ultimately donated to a charitable
Once I have become a Takaful Consultant, there are two steps of development ahead;
Opportunity to build your own business/Sales Career.
Opportunity for Management.
3.6.7 How can you get Carrier at DFTL??
Decision Time
YOU CAN ACHIEVE………..
IT’S UPTO YOU WHAT YOU WANT??
FINANCIAL SOLUTIONS
3.6.8 Job Description Message
I have also learn that how to do business. Which prospects must be kept in mind when doing business in Takaful? Why prospects need Takaful. Healthy …show more content…
The clients (capital providers) bear all the financial losses. Generally, these risk sharing arrangements allow the takaful operator to share in the underwriting results from operation as well as the favorable performance returns on invested premiums. Any financial profit on the investments or underwriting surplus is spilt according to a re-agreed key between the clients and the takaful operator (working partner). The sharing of such profit (surplus) may be in a ratio 5:5,6:4 etc. as mutually agreed between the contracting parties. Whilst the operator may receive advances on any projected profits, those will have to be set off against the actual profits and eventually paid back on the settlement dates should there be no (or not enough) overall profit to justify the advance payments.
3.8.2 Wakala Model for Takaful:
The Wakala variation is based upon the concept of agency and not that of a partnership. Cooperative risk sharing occurs among participants where a takaful operator earns a fee for services (as a Wakeel or Agent), usually a fixed amount or a remuneration linked to the gross contributions received. Wakeel does not participate or share in any underwriting results as these belong to participates as surplus or deficit. Under the Al-Wakala model, the operator may also charge a fund management fee and performance incentive fee.
The contributions are used to pay the Death Claims, while underwriting surpluses may be computed and distributed amongst the clients/policyholders or ultimately donated to a charitable