PT Asuransi Takaful Keluarga has collaborated with the National Alm Board (Baznas) to develop a microtakaful scheme for alms receivers and has a target premium 3 billion rupiah this year.

Ms Emmy Hamidiyah, Bazna’s Director of Information and Network Development , said that the board already has 100,000 registered alms receivers and has targeted 10,000 policyholders his year. However, the optimistic target is 60,000 policyholders.

The covers will cost 50,000 rupiah and will consist of reciprocal assistance funds managed by Takaful Kelurga and donation funds managed by Baznas. The latter will distribute 2,500 rupiah from each policyholder’s premiums and distribute it to worthy receivers.

The policies will pay out 5 million rupiah for death resulting from natural causes and 25 million rupiah for those caused by accidents. Mr Agus Edi Sumanto, President Director of Takaful Keluarga, said: “Only member cards, death certificates and letters from the police proving that the deceased died due to accidents are needed to make a claim. The claim would then be processed within 14 days and the payout would be distributed by Baznas to the deceased’s heirs”

(1,000 Indonesian Rupiahs = 0.11 US Dollars)