Alhamdulillah, I had successfully conducted a seminar on Investment Linked Takaful on 20-21 October, 2010 in Kuala Lumpur attended by participants from Brunei and Malaysia. Basically, the seminar covers the following topics:
- Concept and operational system of takaful business
- Development of takaful business in Malaysia
- Takaful business models used in Malaysia and throughout the world
- Insurance & takaful
- Types of investment linked takaful (ILT) products
- Features of ILT
- Fees & charges structures
- Underwriting procedures
- How ILT works?
- Methods of calculating benefits for
- withdrawals
- surrender
- death/TPD
- Key considerations in investment
- Key investment instruments
- Investor risk profile
- Life cycle risk profile
- Asset portfolio life cycle
- Designing a retirement planning calculator
- Total fund available at retirement
- Total fund required at retirement
- Calculating the funding schedule
- Marketing investment linked takaful
- Conducting fact finding
- Assessing and satisfying customer's needs
- Making recommendations to customer.
It was a good session with the participants where different ideas exchanged for mutual benefits. Furthermore, participants from Brunei are planning to introduce the ILT in their companies respectively which will mark a new era for takaful industry in Brunei. Materials provided in the seminar obviously will be a good guideline for them to design their ILT products, system, procedures as well as marketing strategies.
