Group Life & Medical Takaful

Takaful insurance is an alternative for life insurance; it is based on the cooperative insurance religiously permitted.

Takaful insurance was approved by International Islamic Fiqh Academy in its meeting No. 51 dated 04/04/1397 in the cooperative insurance and complying with the rules of sharia , as approved by Council of Senior Scholars in Saudi Arabia , Shareaa’ committees in most Muslim countries and by National Takaful Insurance  Company Shareaa’ Committee.

Takaful insurance aims to protect the family encouraging them in case of the breadwinner’s death or his permanent total disability due to an accident or illness, and through the help of family financially to go beyond financial difficulties caused by the death or disability of their breadwinners.

In accordance to provisions of Shareaa’, as a one of major Takaful provider in Kuwait, National Takaful Insurance Company offers to the Kuwait market life insurance Policies for Group or companies.

Group Credit Life Insurance Policy

2-Group Credit Life Insurance Policy

A life insurance policy in accordance to Shariaa Provision, and it is designed to pay off a borrower’s debt in case of a borrower’s Death or Total Permanent Disability.

This is the ideal solution for financial organizations to provide the protection against the risk that may face the borrowers not to be able to settle his debt due to death or disability risks .

The following factors shall determine the annual contribution :

  • Nature of work
  • Number of insured members
  • Monthly salary
  • Age Band
  • Policy Benefits.
  • Volume of risk
  • Automatic acceptance without the usual medical assessments

Group Term Life Policy

This type of Life Insurance regularly covers the employees of a certain company or organization where most times the company or organization is the party who is liable for paying the policy premium or with a small contribution from the employees all under the Shareaa’ Provisions.

The Group Life Insurance policy being designed to collective benefits of Life, Personal Accident and Workmen’s Compensation.

Benefits of Life Insurance Policy (Worldwide – 24/7)

  • Normal Death
  • Permanent Total Disability due to sickness
  • Permanent Partial Disability due to sickness
  • Repatriation

Benefits of Personal Accident Insurance Policy (Worldwide – 24/7)

  • Death caused by any accident
  • Permanent Total Disability due to accident
  • Permanent Partial Disability due to accident
  • Temporary Total Disability due to accident.
  • Medical Expenses due to accident

Benefits of Workmen’s Compensation Policy.[ As per Kuwait Labor Law]

Advantages of Group Life Insurance Policy:

  • Very low Insurance Annual Contribution
  • Bundle of Benefits / Combined cover
  • No individual medical assessment is required to initiate the cover. Accordingly the employees get enrolled to Group cover within the below limits:
    • Policy Level Age
    • Free Cover Limit

The following factors shall determine the annual contribution :

  • Nature of work
  • Number of insured members
  • Monthly salary
  • Age Band
  • Policy Benefits.

Group Medical Policy

Then, you may find from us ideal health coverage called “NTcare” to fit for you or for your relatives or your employees in order to cover by their medical expenses arisen due to sickness or accidental at most famous hospitals, Clinics and Medical centers in Kuwait and suburb countries. Moreover the cover also extendable to world-wide facility in case necessitates either on Direct Billing or Reimbursement basis.

Particularly “NTcare” has been designed by National Takaful Insurance Company to provide vas medical coverage to get facilitated its valued insured due to high cost of health care services at private medical facilities during surgical events or any other medical facilities….

NTcare product shall be tailored by following benefits to the Annual maximum limit of USD One million:

  • Medical Inpatient
  • Medical Out-patient
  • Excess
  • Dental care
  • Maternity care
  • Vision care
  • Chronic Disease
  • Pre-Existing Conditions
  • Critical Illness Treatments
  • Repatriation
  • Ambulance

NTcare can be obtained by Corporate Companies / Group Health Insurance Plan; moreover National Takaful insurance company has the intention of launching a similar product which presents health insurance for individuals.

Group health insurance is employer-sponsored healthcare coverage for employees and their legal dependents of the company by medical expenses during the pre-defined policy period having facility to avail medical treatments at pre-assigned medical provider within the territorial limits either by National wide or Regional wide or International wide on Direct Billing Basis or Reimbursement basis.

As well as the members such as Employee, spouse & Child under 21 years of the Group get automatic enrollment to main Group Health Insurance Policy  within the Age band without requiring any medical underwriting requirements.

Group health insurance plan is one of the major benefits offered to employees by employers. Moreover, the most advantages of Group Health Insurance cover as follows:

  • Low Insurance Premium comparing to individual Policies premium
  • Automatic enrollment without evaluation of medical condition.
  • Extended Benefits (Most of cover effective from day one)
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