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FamilySecura

​​​Rest Assured with FamilySecura
Saving plan to maximise your family’s protection

FamilySecura enables you to secure your family’s plans for the future, with a higher protection option, longer terms, higher coverage, and additional protection that you and your family will enjoy.

Why FamilySecura?

  • A savings plan with a higher protection option.
  • Coverage up to the age of 85 years.
  • Additional protection through riders.
  • A wide range of funds (fully Shari’ah compliant) available for investment.
  • Provides Cover Continuance Benefit.
  • Easy liquidity options available after the lock-in-period.
  • Offers protection to you and your family.
  • Booster Contribution can be made at anytime.
  • Waiver of BBK’s internal standing order charges for the periodic transfers of contributions from your bank account to the Medgulf Allianz Takaful account.
  • Waiver of BBK’s minimum balance charges for your bank account that is linked to the Medgulf Allianz Takaful account.

FAQs

  1. What is the eligibility to apply for FamilySecura?
     If your current age is between 18 years to 75 years, you are eligible to apply for FamilySecura.

  2. What is the maximum age to avail the coverage from FamilySecura?
     You can avail the coverage up to the age of 85 years or 40 years of the plan, whichever is lower.

  3. What are the minimum and maximum terms available for FamilySecura?
     The minimum term is 5 years and the maximum term is 40 years.

  4. What are the minimum and maximum life covers I can choose from in FamilySecura?
     The minimum life cover that you can avail in FamilySecura is 5 times your annual contribution.
     The maximum you can avail is (a) 85 times your annual contribution if your age is between 18-30 years, (b) 70 times your annual contribution if your age is between 31-35 years, (c) 50 times your annual contribution if your age is between 36-40 years, (d) 30 times your annual contribution if your age is between 41-45 years, (e) 20 times your annual contribution if your age is between 46-50 years, (f) 15 times your annual contribution if your age is between 51-55 years, (g) 10 times your annual contribution if your age is between 56-60 years, and (h) 5 times your annual contribution if your age is between 61-75 years.

  5. What is the minimum contribution for FamilySecura?
     The minimum contribution is BHD 300/- per year for BHD currency plan and USD 1,000/- per year for USD currency plan. However, on monthly mode, the minimum contribution is BHD 30/- per month for BHD currency plan and USD 100/- per month for USD currency plan. Other payment modes are also available such as quarterly (BHD 75/USD 250) and semi-annually (BHD 150/USD 500).

  6. What is the benefit for my family in case I meet with any unfortunate event (God forbid) if I have FamilySecura?
     As a participant, in case you meet with an unfortunate event of death (God forbid), your family would get paid the life cover amount plus the investment fund value plus any share in the surplus from the takaful fund.

  7. What do I get back at the time of maturity from FamilySecura?
     You will get back the investment fund value plus any share in the surplus from the takaful fund at the time of maturity.

  8. In case I need money in an emergency, can I withdraw it from FamilySecura?
     Yes. You can withdraw money partially or fully. Partial redemption is available anytime after the completion of 3 years, subject to maintaining a minimum of BHD 350/- or USD 1,000/- in the account.
     However, full surrender is available anytime during the policy term, subject to surrender charge equal to the wakala fees payable for the balance term of the policy if the surrender is made before the completion of 3 years and payment of related contributions.

  9. What is Cover Continuance Benefit in FamilySecura?
     Cover Continuance Benefit is a unique feature that provides you continued protection, even if you stop paying your regular contributions. Your policy shall be kept in-force by cancellation of units at the prevailing unit price to make your donations to the takaful fund, so long as there are units to support such contributions for at least 3 months.

  10. What is Booster Contribution?
     Booster Contribution is an option that allows you to invest surplus money at anytime to make it grow faster. The minimum Booster Contribution should be BHD 175/USD 500.

  11. What are the additional benefits or riders available with FamilySecura?
     You can also add the available riders – (a) Accidental Death Benefit, (b) Critical Illness Benefit, (c) Permanent Partial Disability Benefit, (d) Permanent Total Disability Benefit, and (e) Waiver of Contribution Benefit due to Permanent Total Disability.

  12. What are the other benefits I can get from FamilySecura?
     The other benefits that you can avail are (a) funds switching (6 times free every year), (b) contribution redirection to different funds, (c) increase and decrease in regular contribution on policy anniversary, and (d) increase and decrease in life cover on policy anniversary.

An illustrative example of FamilySecura
Annual Contribution : BHD 1,500
Age at Entry : 30 years
Plan Term : 40 years
Life Cover : BHD 75,000
Payment Frequency : Annual 

End of Policy Year   Attained Age   Accumulated Contributions (BHD)   Assumed Fund Value (BHD)
  @5% p.a.  @10% p.a.
10  40  15,000  14,558  18,536
20  50  30,000  40,884  71,005
30  60  45,000  80,353 202,841
40  70  60,000  135,167  532,919

The given illustrations are for a healthy male. The given maturity values are net of all charges. Since your plan offers variable returns, the given illustration shows two different rates (5% p.a. & 10% p.a.) of assumed future investment returns.

Adherence to your principles
Takaful, which means “guaranteeing each other”, observes the rules and regulations of Islamic law (Shari’ah). BBK’s partnership with Medgulf Allianz Takaful means that this Secura plan is built on the principles of mutual cooperation and shared responsibilities. By securing a Medgulf Allianz Takaful product, you cooperate with other Participants for the common good. You, therefore, contribute positively to providing quality of life for all and upholding the dignity of individuals, families, and our society in general.

As a participant to the mutual system, you may be eligible to receive a share of any declared surplus from the Participants Takaful Fund. Distribution of the surplus is in accordance to the Medgulf Allianz Takaful’s Surplus Policy as approved by its Shari’ah Supervisory Board.

We are at your assistance
We know that choosing the right investment product is not an easy task. Hence, our expert Financial Consultants are available to assist you in structuring a proper financial plan that meets your financial objectives. You can also feel free to contact our Customer Service Personnel anytime for assistance. We are happy to assist you.

Important Notice:
This brochure contains only general information. It does not constitute an offer to buy or sell a Takaful plan or service nor it is intended to provide any financial advice. Any person interested in this plan should read and consider its complete Terms and Conditions before making a decision. Please request the same from our authorised Financial Consultants.

For more details on SECURA, please visit any BBK branch, www.bbkonline.com, or contact us on any of the following:
BBK Contact Centre: 17207777, Email: [email protected]
Rest Assured with FamilySecura

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