Takaful
The Islamic version of insurance. The buying of conventional insurance is largely forbidden under Shariah law some property insurance is not clearly outlawed, but the concept of life assurance is deemed to be “against providence”. Takaful operates on a similar principle to a mutual guarantee or indemnification fund, with a number of members sharing risk on a co-operative basis. The greatest difference between it and conventional insurance is that takaful operators are prohibited from investing in certain economic ventures, most notably gambling and the production of alcohol or the manufacture of pork products. The system works as a company run by and for policyholders, with profits distributed to members, much in the way a mutual would operate. Claims are treated as charitable donations from the policyholders’ fund to the claimants. The company receives a fee from the policyholders for administering the fund and all share in the surplus.
Do you have old policies lying about? Perhaps it's a term or whole of life insurance, pension, endowment, bond or an annuity policy. Or do you receive statements for a policy which you are unsure about? Why not use Policy Detective to find the answers.
Which company now looks after your policy? Who can you contact about your policy? What do all those words and phrases on my policy document actually mean?
Policy Detective is a UK company for UK customers. We help you to track-down the Administrators for policies which you or your loved ones may have in the bureau or the attic. You never know how much money there could be in that old policy. It's not easy to find this information, as companies through time are taken-over, merge with other companies and even change their names. We can help you find the company which now deals with your policy. Some companies even allow us to check the status of your policy.
