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Hyat, The Universal Takaful Plan

Change is constant; even in the Journey of Life!

There are many milestones in life such as graduation, landing your first job, buying a home, getting married, starting a family and saving for retirement; we help make your journey a memorable one with our protection and investment plans.

No matter where you are in your life's journey, establishing a sound financial base through regular savings will help.

For single people, short-term savings are likely to be the highest priority. The priority for married people with children moves towards financial protection of the family. The need for protection decreases as the children grow up and leave home and investment for retirement becomes a growing priority.

With this in mind, Mashreq Al Islami and Salama have designed HYAT to provide you with lifetime financial security with the flexibility to change in response to your changing needs and aspirations.


The Benefits

  • Family Takaful Cover: A built-in Benefit that provides a lump sum payment if the Covered Member passes away during the term of the Plan. The amount of Family Takaful Cover is calculated to be sustainable for the period shown in your personal illustration. If the Benefit is paid, the Plan ends.

  • Accidental Death: This optional Benefit provides a lump sum payment in addition to the Family Takaful Benefit if the death of a Covered Member arises as a result of an accident within 30 days of the event. If an Accident Death Benefit is paid, the Plan ends.

  • Permanent and Total Disability: This optional Benefit provides a lump sum payment if as a result of a sickness or an accident, the Covered Member becomes permanently and totally disabled, thus losing the ability to work and earn an income for a period of at least 6 consecutive months. If a Permanent and Total Disability claim is paid, the Family Takaful cover will be reduced by the amount paid.

  • Waiver of Contribution: As an alternative to Permanent and Total Disability (see above), this cover will pay the remaining Regular Contributions on behalf of the Plan Holder if as a result of sickness or accident, the Covered Member becomes permanently and totally disabled for a continuous period of at least 6 months and is unable to perform any occupation.

  • Critical Illness: This optional Benefit provides a lump sum payment if the Covered Member is diagnosed with a specified Critical illness within the Plan term.
    We cover many critical illnesses like: cancer, coronary artery disease/bypass surgery, heart attack, kidney failure/renal failure, stroke, aortic graft surgery, blindness and loss of sight, heart valve replacement, major organ transplant, multiple sclerosis and paralysis.
    If a Critical Illness claim is paid, the Family Takaful Cover will be reduced by the amount paid.

  • Terminal Illness: This optional Benefit pays a lump sum payment as an accelerated payment of the Family Takaful Benefit if the Covered Member is diagnosed as being terminally ill with a life expectancy of less than 6 months within the Plan term. If a Terminal Illness claim is paid, the Family Takaful cover will be reduced by the amount paid.


The Plan

  • Open to anyone aged between 18 and 74
  • Currency of Programme: AED
  • Flexible period starting from a minimum of 7 years
  • Monthly, quarterly, semi-annual or annual contributions - as per your convenience
  • Increase or decrease your contributions whenever you want*
  • Boost your savings any time with additional Lump Sum payments*
  • Partial withdrawals allowed any time before maturity*
  • Deferral of contributions for up to 12 months*
  • Appoint up to four beneficiaries

*Terms & Conditions apply