Takaful Product in Islamic Estate Planning
Takaful is a form of protection to help ourself, our family and beloved person. A good Muslim must be a muslim with a forward thinking. Hence, some continuity preparation supposed being done and this preparation must take place from now, in future and in fact after the death. To accomplish this goal...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
UUM Press
2012
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/31423/1/JBMA%2002%2002%202012%20101-116.pdf https://repo.uum.edu.my/id/eprint/31423/ https://e-journal.uum.edu.my/index.php/jbma/article/view/8894 |
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| Summary: | Takaful is a form of protection to help ourself, our family and beloved person. A good Muslim must be a muslim with a forward thinking. Hence, some continuity preparation supposed being done and this preparation must take place from now, in future and in fact after the death. To accomplish this goal, wealth management has been determined as an important tool as it plays some important roles to assist for a proper planning in our life and after our death. In other word, Islamic wealth management aims to provide the best reward in this world and hereafter. Further it has been strengthened by Islamic law that has outlined a comprehensive guidance related to property management after the death through a complete and systematic Islamic estate. The benefits can be enjoyed by family from the takaful product will be the Islamic estate of a continuity guarantee after the contributor past away. Aspiring by this issue, this paper will focus on two fold. The first fold will discuss on takaful product as a risk management tool in Islamic estate planning and followed by second fold that will elaborate on how to incorporate this instrument into more integrated in Islamic financial system in particular and Islamic economics system in general. The discussions will encompasses on shariah aspect and further the applications of this product in Malaysia |
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