HLTMT Ties Strategic Partnership to offer the FIRST Wakaf & Qurban services in Malaysia
Kuala Lumpur, 2 March 2011 - Hong Leong Tokio Marine Takaful (HLTMT) will be offering the FIRST Wakaf and Qurban services in Malaysia. With Wakaf and Qurban, HLTMT Muslim customers are ensured that the practise of their continuous charity/ sadaqah jariyah is fulfilled in the event of death. In managing these exclusive services currently, HLTMT is in negotiations with Darul Fikir and Kijang Kota Trading for the management of the Wakaf and Qurban services respectively
"Wakaf and Qurban services are yet an additional hallmark initiative by HLTMT aside to our Badal Haji service, to provide better products and services that address the evolving needs of the Muslim community. By introducing innovative services like these, we are contributing towards enabling the Takaful industry to gain even wider acceptance. We know that our customers appreciate products and services that add value to their schemes," said En. Ab Latiff Abu Bakar, Chief Executive Officer of HLTMT.
With Wakaf ( voluntarily charitable endowment) and Qurban (sacrifice), participants can leave instructions for a Wakaf and/ or Qurban service in the event of death. A portion of the benefit payable to the participant and/or beneficiaries shall be deducted by HLTMT for the performance of Wakaf and/ or Qurban service . With these services, Muslim participants are ensured that the practise of continuous charity/ sadaqah jariyah is fulfilled.
On the collaboration in offering Wakaf and Qurban services, a signing ceremony was held with two companies, one with YBhg. Dato' Mohamad bin S. Ahmad, Chief Executive Officer of Darul Fikir for the Wakaf service and the other with Tuan Haji Mohd Salamon Mansot, Director of Kijang Kota Trading for Qurban service. A Memorandum of Understanding (MOU) to enter into discussions for the provision of the respective services was executed by Darul Fikir and Kijang Kota Trading respectively with HLTMT.
Also on the same day, HLTMT announced the launch of its NEW family takaful product called "HLTMT i-Cash" that not only offers savings and protection but provides participants with an additional annual income of 5% from its sum covered from the 3 rd anniversary of the certificate year followed by every year after that. This exclusive annual cash payout is for participants to enjoy right up to the age of 65 years old. Terms and condition apply.
"Aside from the usual financial assistance upon death and total permanent disability, we know that an additional financial resource/ income will come in handy at a time when you might welcome the extra income. We feel that we are making another public commitment to be even more dedicated and committed to deliver quality service to our participants and increasing shareholder's value to our partners," said En Latiff.
"In anticipation of the takaful industry's growth and our newly launched i-Cash together with Wakaf and Qurban services, HLTMT targets to reel in RM3 million worth of premium contribution in one year. We aim to have 5,000 agents by 2012, with 60% active agents selling at least one policy/certificate a month.