Why Muslim Travelers Should Get Travel Takaful
You are having a good life, you are a busy travel jet-setter and you have meetings around the globe to capitalize on business opportunities, in fact you have everything. But still, you ask yourself “If I’m successful, why do I feel hollow inside?”, and "When I’m gone, what have I contributed?”. As the saying goes, "There are 3 things in life you cannot avoid - death, taxes & God"
In the path towards enlightenment, one should be unselfish with charitable works. According to;
Hadith 92:5 “As for one who gave in charity and was righteous and affirmed the best, then We will facilitate him along the easy path”
Hadith 107:4-7 "Woe to those who pray, who are heedless of their prayer, who pray to be seen and withhold small acts of kindness."
Travel takaful ensures that good works don’t cease upon death or being disabled. One could still be counted upon to spread the words of Allah through donations of Al-Quran to the mosques, surau and the poor, made on one’s behalf through the Waqaf coverage. Having knowledge of Islamic teachings made more accessible and through the proper channels ensures that the right messages and teachings get through.
Muslims are required to perform the Qurban (say sacrifice of a livestock, eg. goat, cow, etc) in line with fulfilling Allah’s commands when they are able to. However, part of the Qurban ceremony also involves sharing the sacrifice with the poor and needy. That is why travel takaful ensures that charitable works continues to be done on your behalf even upon death or disability, by performing the Qurban on your behalf. Here are more notable Quran Verses on Qurban
Al-Haj 22/34 “And for all religion We have appointed a rite [of sacrifice] that they may mention the name of Allah over what He has provided for them of [sacrificial] animals. For your god is one God, so to Him submit. And, [O Muhammad], give good tidings to the humble [before their Lord]”
Al-Kawthar 108/2 “So pray to your Lord and sacrifice [to Him alone]”
As-Saffat 37/107 “And We ransomed him with a great sacrifice”
Al-Haj 22/36 “And the camels and cattle We have appointed for you as among the symbols of Allah ; for you therein is good. So mention the name of Allah upon them when lined up [for sacrifice]; and when they are [lifeless] on their sides, then eat from them and feed the needy and the beggar. Thus have We subjected them to you that you may be grateful”
Al-Haj 22/28 “That they may witness benefits for themselves and mention the name of Allah on known days over what He has provided for them of [sacrificial] animals. So eat of them and feed the miserable and poor”
Bukhari, 68/454 Narrated Anas bin Malik: The Prophet said, "Whoever slaughtered the sacrifice before the prayer, he just slaughtered it for himself, and whoever slaughtered it after the prayer, he slaughtered it at the right time and followed the tradition of the Muslims"
Any busy executive would tend to be unaware of their surroundings and go from meetings to meetings, survive crisis by crisis every day. You tend to lose track of time and probably think “I’ll just settle it tomorrow”. Unfortunately life is unpredictable, that is why travel takaful provides for Badal Haj. The Haj (the pilgrimage to Mecca of at least once in a lifetime) is the responsibility of every Muslim if they are able to perform it. However, if you are seriously ill, suffering extensive injuries or in chronic situations where recovery is very unlikely, having someone perform the Haj on your behalf (i.e. by proxy) is allowed. This makes your life’s journey as a Muslim to be more complete.
The majority of the travel takaful perform some of the above. However, Hong Leong MSIG Takaful has explicitly mentioned all of the above. This is on top of the normal Personal Accident coverage (for deaths and disabilities), travel curtailments and travel delays, luggage lost and luggage delays.
Another coverage under travel takaful that is often overlooked is the compassionate care coverage. Imagine yourself bedridden in a foreign country all alone (and even more alone if everyone speaks a foreign language that you are not familiar with). At these times, you’ve probably want your family or kin to be near to you, to take care of you. The compassionate care coverage ensures that a close relative would be flown in (with return airfare) to take care of you at your bedside.
Photo credit: https://www.pinterest.com/pin/400961173051138373/
However, the nightmare of every parent would be that they managed to get their children to safety but they themselves are injured in the process. If they are unconscious or heavily injured in a foreign country, who would look after the children? Child care benefit coverage of family travel takaful would ensure that a family member would be provided with return airfare to take care and accompany them whilst the adult parents recuperate.
The relationship of a travel takaful purchaser differs somewhat from that of a conventional insurance purchaser as they are not someone outside looking in (as in the case of a conventional insurance) but are a party to a profit sharing arrangement (or Musharakah). Takaful premiums are invested into a Risk Fund that is used to provide coverage for the risk that had occurred and if there is surplus, the surplus is returned back to the takaful purchaser. Conventional insurance do not have such features.
The diagram above illustrates how Hong Leong MSIG Takaful’s general takaful business works
There are also restrictions in how funds from the Risk Fund are to be invested. These investments must comply with the requirements of the Shariah Committee of each travel takaful company. The Shariah Committee would then ensure that guidelines in investing are set and complied with (e.g. materiality limits, true substance of transactions, true nature of income, transparency of management and business owners, etc.). Examples of these would be to not take up investments that derive a large portion of income from businesses that generate income from riba (interest) or from elements that are unethical or does not represent Muslim principles such as gambling, cigarettes, alcohol, pork, etc are complied with.