Retirement Takaful Plan
Working towards a comfortable and happy retirement is an important goal for all of us. To many, it is a time to spend with your family and friends, doing the things you have always dreamt about or simply enjoying your life without any financial worries.
Whatever your goals may be, you need to be financially independent in your golden years. With a longer life expectancy and higher standard of living, you should ensure that you have enough money to enjoy your retirement. The longer you delay, the higher the possibility that you may not be able to accumulate a sufficient amount to achieve your goals.
At SABB Takaful we are able to help you plan for your financial requirement necessary for your retirement so that you can enjoy your today and tomorrow with greater peace of mind. Our Retirement Takaful Plan can help you plan for a comfortable retirement and, at the same time, provide financial protection for your family should something unfortunate happen to you. What’s more, we also assure you that this plan is fully Shariah compliant.
Start planning for your retirement early so that you have enough time to build your nest egg.
Benefits at a glance
Peace of mind
You can rest assured that this plan is fully Shariah compliant and is approved by SABB’s Shariah Committee. The Shariah Committee members are:
- Sheikh Abdullah Bin Sulaiman Al Manea
- Sheikh Dr. Abdullah Al Mutlaq
- Sheikh Dr. Muhammed A. Elgari Bin Eid
Takaful surplus sharing
You may be eligible to receive a share of any declared surplus* from the Takaful Fund.
Affordable contribution and ease of payment
Contribution to this plan starts from as low as SAR 750 per month. You can opt for monthly, quarterly, semi-annual or annual contribution payment using your credit card or by directly debiting your bank account.
Family Takaful benefit
The standard entitlement amount for the Family Takaful benefit in this plan is from 10 to 40 times your yearly contribution. The benefit payable at death would be either the higher of the current value of units or the protection amount or the current value of units plus the protection amount, depending on your initial choice.
Flexible top-up scheme
You may top-up your plan whenever you are comfortable to do so by increasing your regular contribution or by a lump sum contribution.
Professional advice
SABB’s Financial Advisors will assist you in your personal financial review and help to identify whether you are on track in your retirement planning. They can advise and develop a plan to close any financial gaps even if you have as little as five years before retiring. The amount and term period of your plan will depend on when you want to retire and how much you want to set aside for your retirement years.
Eligibility
You may enrol in this plan if you are between aged 18 and 65 years.
Flexible term period
You may choose a plan term starting from a minimum period of 5 years to a maximum of 40 years, subject to a maximum age of 75 years upon maturity.
Choice of investment strategies and funds
We are able to take advantage of the local knowledge and expertise of our affiliate, HSBC Saudi Arabia Limited through whom SABB Takaful offers a range of investment strategies and funds to meet your needs.
Beneficiaries
Your appointed beneficiaries are entitled to receive the Family Takaful benefit in the event of your untimely death (God forbid).
Option for additional benefit
You may choose to add critical illness benefit and partial or total permanent disability benefit to your plan for a more comprehensive coverage.
Choice of maturity payout
Upon maturity, you may choose to receive the full fund value in a lump sum, in regular instalments or in a combination of both.
Start planning for your retirement today!
Contact us for a complimentary personal financial review now.
