IMPORTANT

You are reminded of the need to disclose any facts Company would take into consideration in the assessment and acceptance of this proposal. Should you have any doubts as to whether certain facts may be relevant please ask your Takaful broker/sales agent. Failure to disclose may invalidate your certificate or your certificate not operating fully.

DECLARATION

I/We to the best of my/our knowledge hereby confirm that the statements contained in this proposal form are true and correct and I/We have not concealed, misrepresented or mis-stated any material facts. I/we agree that the statements and declaration contained in this proposal shall be the basis of the contract of Takaful Cover with the Company and are deemed to be incorporated in to the takaful policy. I/We hereby agree that the Takaful contribution which I/We undertake to pay to Amãna Takaful (Maldives) PLC (the Company) as tabbarru (donation) be credited into the Participants Takaful Fund (PTF) for the Company to manage the various schemes of Takaful under the General Takaful Business and pay Takaful Benefits to the participants as expressed in the Terms and Conditions of this Takaful policy in accordance with the Waqf rules governing the PTF.
I/We agree that the Company take a non-refundable fee, up to 40% of the Takaful Contribution as their fees, for managing the above Takaful Operations. I/We also agree that the Company invest the said fund in a manner deemed fit by the Company and the profit from investment if any be shared in proportion of 50% to the PTF and 50% to the Company on the basis of Al-Mudharaba. Losses if any will be borne solely by the PTF.
If there is a surplus from the fund after payment of benefits to any participant who shall be entitled to such benefits under the said Takaful contract and deducting the costs related to the fund, the same shall be distributed on pro rata among the participants, provided that they have not incurred any claim and/or received any benefits under the said Takaful contract whilst the same is in force.