To make some story, today i have been contacted with insurance telemarketer that promoted conventional insurance. I’m not sure from what company he is, because the voice is not so clear.

After a long explanation, I interrupted and ask, “Is this a takaful package or conventional insurance?” He then replied that it is not a matter if it is a takaful or conventional because the claim is high and I can make double claim if I got another insurance covered and bla.. bla.. I stop him once again and ask whether this is a takaful scheme or conventional insurance. He just said that it is conventional insurance. Immediately I said “I’m not interested” and said thanks to him.

It does matter for all muslim to get a syariah compliance product. Although you can see higher profits and lower monthly installment within conventional insurance.

There are some differences between takaful and conventional insurance operation is based on the principles of solidarity, in which each participant makes contributions to the takaful fund. In case of loss, the participant will receive the amount of the claim. Unlike conventional insurance, where the insurance risk is transferred from the owner to insurance companies, takaful risk shared by the participants.

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