Conventioanl vs Islamic Insurance
ISLAMIC LIFE INSURANCE (TAKAFUL), IT'S EVOLUTION, COMPARISON WITH CONVENTIONAL LIFE INSURANCE, AND ROLE OF DAWOO TAKAFUL ( AN INSURANCE COMPANY OFFERING LIFE INSURANC IN PAKISTAN ) FOR TAKAFUL INDUSTRY IN PAKISTAN
Table of Contents
1.0 LIFE INSURANCE/CONVENTIONAL LIFE INSURANCE 2
2.0 ISLAMIC LIFE INSURANCE 2
3.0 WHY LIFE INSURANCE NECESSARY 2
4.0 COMPARISON BETWEEN COVENTIONAL LIFE INSURANNCE AND ISLAMIC LIFE INSURANCE 2
4.1 HOW CONVETIONAL INSURANCE WORKS 3
4.2 DIFFERENTATION OF TAKAFUL FROM CONVENTIONAL INSURANCE 3
4.3 PRONS AND CONS OF ISLAMIC INSURANCE 3
4.4 3
4.4.1 PRONS OF ISLAMIC INSURANC 3
4.4.2 CONS OF ISLAMIC INSURANCE 4
5.0 LIFE INSURANCE IN PAKISTAN 4
5.1 Takaful in Pakistan 4
6.1 INSIGHT LOOK- A TAKAFUL COMPANY IN PAKISTAN-DAWOOD FAMILY TAKAFUL 5
6.2 OBJECTIVE OF DAWOOD FAMILY TAKAFUL 5
6.2 SHARIAH SUPERVISORY BOARD 5
6.3 FINANCIAL ANALYSIS OF DAWOOD FAMILY TAKAFUL 5
7.0 CONCLUSION 5
8.0 REFERNCES 5
1.0 LIFE INSURANCE/CONVENTIONAL LIFE INSURANCE
Life insurance is an undertake between the policy holder and the underwriter, where the insurance firm commitments to pay a selected beneficiary a quantity of money (the "benefits") upon the death of the individual person. Looking on the contract, other effects such as period ill health or critical wellness may also trigger payment. In return, the policy bearer agrees to pay a specified amount (the "premium") at every day intervals or in lump sums. In many countries, death outgoes such as observances are enclosed in the premium; even so, in the United States the predominated form only defines a lump sum to be paid off the insurer’s death (1).
The valuable for the policy owner is the 'peace of mind' in sapient to that the modification of the various persons will not issue in non financial adversity.
Life insurance policy are lawful contract bridge and the price of the contract exposit the limits of the someone consequences. Specific exceptions are often
Table of Contents
1.0 LIFE INSURANCE/CONVENTIONAL LIFE INSURANCE 2
2.0 ISLAMIC LIFE INSURANCE 2
3.0 WHY LIFE INSURANCE NECESSARY 2
4.0 COMPARISON BETWEEN COVENTIONAL LIFE INSURANNCE AND ISLAMIC LIFE INSURANCE 2
4.1 HOW CONVETIONAL INSURANCE WORKS 3
4.2 DIFFERENTATION OF TAKAFUL FROM CONVENTIONAL INSURANCE 3
4.3 PRONS AND CONS OF ISLAMIC INSURANCE 3
4.4 3
4.4.1 PRONS OF ISLAMIC INSURANC 3
4.4.2 CONS OF ISLAMIC INSURANCE 4
5.0 LIFE INSURANCE IN PAKISTAN 4
5.1 Takaful in Pakistan 4
6.1 INSIGHT LOOK- A TAKAFUL COMPANY IN PAKISTAN-DAWOOD FAMILY TAKAFUL 5
6.2 OBJECTIVE OF DAWOOD FAMILY TAKAFUL 5
6.2 SHARIAH SUPERVISORY BOARD 5
6.3 FINANCIAL ANALYSIS OF DAWOOD FAMILY TAKAFUL 5
7.0 CONCLUSION 5
8.0 REFERNCES 5
1.0 LIFE INSURANCE/CONVENTIONAL LIFE INSURANCE
Life insurance is an undertake between the policy holder and the underwriter, where the insurance firm commitments to pay a selected beneficiary a quantity of money (the "benefits") upon the death of the individual person. Looking on the contract, other effects such as period ill health or critical wellness may also trigger payment. In return, the policy bearer agrees to pay a specified amount (the "premium") at every day intervals or in lump sums. In many countries, death outgoes such as observances are enclosed in the premium; even so, in the United States the predominated form only defines a lump sum to be paid off the insurer’s death (1).
The valuable for the policy owner is the 'peace of mind' in sapient to that the modification of the various persons will not issue in non financial adversity.
Life insurance policy are lawful contract bridge and the price of the contract exposit the limits of the someone consequences. Specific exceptions are often