Abstract

The current Takaful Products which are offered by the Islamic insurance companies are considered as substitute of the traditional life assurance , which are prohibited by the Islamic Sharia due to contradictions to same.

This research targets the appraisal of the launched products , but due to the fact that the research is restricted to thirty pages only (30) , the researcher decided to select just two products , out of many and that is due to its utmost vitality and increasing importance , namely :-

(a) The Takaful and Investment plan , and

(b) The Takaful plan for the protection of the students .

Through out this research , the light is shed on the above with the purposes of pointing out their basic principles . The researcher also explain, the objective of each product . The researcher goes further to explain theoretically and practically how they operate . The researcher point out the main demerit experienced through operation and spells out his views for remedy for each product in such away that it could be rectified to minimize the demerit , and maximize the benefits .

In conclusion , the researcher points out the out come of the study followed by some recommendations which he believes if they are adopted will result in more improvement and success to Takaful practice in the Islamic insurance companies .