The Takaful coverage covers accidental death, permanent disability, and household for all new and existing accounts (Individual, Joint, Rupee or Foreign Currency checking accounts) upon meeting the eligibility criteria. Wallet Coverage plan is available for ALL account holders.

All checking accounts including current, savings, sole proprietors, joint and FCY accounts with account balances of Rs. 10,000 or more will become eligible for accidental death, permanent disability, household and wallet coverage.

The Takaful plan is a free service for all account holders of Islamic Banking Group.

Maximum Age Limit is 65 years.

The Takaful shall only cover the account holders. Spouse or any other family member will not be eligible to receive Takaful Cover under this scheme.

The Takaful plan is provided by Salaam Takaful Limited whereas the contribution for the Takaful plan coverage is borne by Bank Alfalah Islamic Banking.

In case of joint account, only single coverage is allowed.

Customers having more than one account with bank shall be offered single Takaful coverage of Personal Accident and Household event.

Household cover provides coverage against Fire & Lightning, Riot & Strike, Malicious Damage, Explosion, Impact Damage, Atmospheric Disturbance, Aircraft Damage, Burglary, Earthquake and Accidental Damage due to underground tank.

Customer’s average account balance maintained during the month preceding the date of the incident will determine the tier of claim amount for Accidental Death and Permanent Disability plan.

Following are the claim amounts:

In case of more than one account, the tier of claim will be applicable based on the highest maintained account balance in the preceding month.

The customer shall be eligible for Personal Accident (Accidental Death & Permanent Disability) Event, either he/she dies either within or outside Pakistan.

Customer’s average account balance maintained during the month preceding the date of the incident will determine the tier of claim amount for Household plan.

Following are the claim amounts:

In case of more than one account, the tier of claim will be applicable based on the highest maintained account balance in the preceding month.

Rs. 10,000/-

Customer can get free online OPD consultation from 09:00am to 10:00 pm from a panel of qualified doctors by using Salaam Takaful’s application.

In case of death, the claim amount will be paid to the legal heirs.

The Takaful coverage of Accidental Death & Permanent Disability shall not be applicable for the following month if the customer’s preceding month’s account balance falls below Rs. 10,000.

An account holder becomes ineligible for Takaful plan if his/her account closes down for any reason.

The coverage of Personal Accident (Accidental Death and Permanent Disability) is applicable on both, within and outside the territorial limits of Pakistan, excluding FATA and PATA.

The claimant / successor should contact the designated branch within one month of the Accident, otherwise claim will not be entertained. Average monthly balance of the month preceding the date of incident shall be checked.

The claimant should contact the account maintaining branch within 24 hours of the incident or else the claim shall not be entertained.

The Claim will be settled and deposited through cheque or banker’s cheque to the Customer’s account within 15 working days after receipt of survey report in case of accidental death or permanent disability or household event and within 7 working days incase of loss of personal documents.

Salaam Takaful Limited will process the claim of the Bank Alfalah Islamic account holder after completion of all necessary requirements and formalities.

The Bank reserves the right to change these Terms and Conditions of the Takaful plan at any time after giving 30 days prior notice to its account holders.

Upon intimation of the accidental death / permanent disability and household event, the account maintaining branch / Salaam Takaful Limited shall explain the detailed process along with the documentary requirements to the customer. 

Upon intimation of the theft of stolen wallet / personal documents, the account maintaining branch / Salaam Takaful Limited shall explain the detailed process along with the documentary requirements to the customer.

Maximum of two (2) claims for Complementary Wallet can be claimed by a customer during a fiscal year.