Baity Plus

Protection for Your Most Valued Asset - Your Home

Buying a House is one of the most important and expensive decision one makes in life as it comes with a fair share of financial responsibility, especially if the purchase is through Home Finance. Long term financial commitment is demanding and poses a constant risk to your most valuable asset; your home, given the uncertainties of life. Baity Plus is a Home Finance Protection Plan that has been designed to ease this risk and ensure your home remains a permanent sanctuary for your family.

We know the path is not always smooth. For this reason we have designed BAITY PLUS to ensure that your Home Finance commitment can be met should something happen to you.

With BAITY PLUS, you can enjoy peace of mind that does not cost the earth.


We understand that providing financial security only in case of the Covered Member’s loss of life will not be covering all the unfortunate eventualities. To ensure you are protected all the way, we are now providing the option to add any combination of the following benefits to your Baity Plus Family Takaful Plan.

Critical Illness Benefit
This optional Benefit provides a lump sum on diagnosis of a Critical Illness from a predetermined list of 36 illnesses subject to a minimum survival period of one month. If Critical Illness claim is paid, the Family Takaful Cover will be reduced by the amount paid.

Accidental Death Benefit
This optional Benefit provides an additional lump sum where death of the Covered Member is directly and solely because of an accident.

Permanent and Total Disability Benefit
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 becoming unemployable. If a Permanent and Total Disability claim is paid, the Family Takaful cover will be reduced by the amount paid.

Waiver of Contribution
This optional Benefit 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 and is unable to perform any occupation

The Plan

  • It is a Decreasing Benefit Home Finance Protection Plan with regular and single contribution payment facility.
  • It pays out a pre-determined sum if the Covered Member passes away or is diagnosed as being terminally ill.
  • The Benefit amount reduces on a yearly basis, decreasing to nil at the end of the Plan term. The reducing amount is predetermined at the outset of the Plan for the entire term of the Plan.
  • You choose the initial Benefit amount at the start of the Plan. This is normally the same as your Mortgage Finance amount at the outset. The benefit amount reduces according to a standard amortization schedule with a fixed rate of 9% or 11%.
  • Illustration for BAITY PLUS includes a table showing the amount that would be payable during each Plan year.
  • Once the Plan is in force, the Benefit amount and the Plan Term cannot be changed.
  • If any of the Benefits have not been paid out by the end of the term of the Plan, the Plan is terminated with no value.
  • The following is a table of minimum and maximum:
  • Minimum age at start of Plan 18 years
    Maximum age at start of Plan 74 years
    Maximum age at end of Plan 100 years
    Minimum Plan Term 3 years
    Maximum Plan Term 35 years

  • Terminal Illness Benefit is included as a built - in cover.
  • The Plan can be on single or joint life first death basis in which case payout will be on first death and the Plan will be terminated.

  • Terms & Conditions apply

    Disclaimer :
    Takaful Plans are offered by SALAMA - Islamic Arab Insurance Co. (P.S.C) All product features, benefits, and returns are offered by the Takaful company and not by Mashreq Al Islami. Mashreq Al Islami shall not be responsible for Takaful provider's actions or decisions, nor shall Mashreq Al Islami be liable regarding payment of claims or services under the takaful contract.
    This product/offer is for Mashreq Customers only.