Kuala Lumpur, 17 June 2011 - "I have never thought of saving to perform my Hajj duties with Tabung Haji until I was approached by a Prudential BSN Takaful (PruBSN) agent to opt for their PruBSN Ummah plan," said Khairul Mohamad, a 33 year old entrepreneur from Kuala Lumpur. Khairul who opened a Tabung Haji account after he participated in PruBSN Ummah thoroughly believes that the product made him more receptive to save towards his Hajj pilgrimage expenses. "I am thankful for the PruBSN Ummah product, without which I would probably neglect to save for my Hajj and would not have realised it until it was too late," said Khairul.
PruBSN Ummah, a unique product offering by Prudential BSN Takaful Berhad (PruBSN) has recorded impressive figures since its launch just five months ago. Since November 2010 up to the first quarter of 2011, more than 3,500 certificates have been subscribed to, amounting to approximately MYR 4.3 million (USD 1.43 million) in annualised contribution income (ACI) for the company. The PruBSN Ummah, which is a one of a kind family takaful plan designed specifically for Muslim customers, is the first product in the takaful market to offer spiritual fulfillment as well as protection and savings to participants. As such, PruBSN Ummah continues to be our proud tradition as a product leader in the Takaful industry.
Azrina Ishak, a recipient of PruBSN Million Dollar Agency Award has one of the strongest customer base for PruBSN Ummah. She believes that the PruBSN Ummah appeals to Muslims from all walks of life due to its unique protection and financial offerings. "Regardless of a person's lifestyle and demographics, the PruBSN Ummah is a great product that really caters to the Muslim population. What is best about PruBSN Ummah is that it is a financial and protection plan that caters to the fifth pillar of Islam, which is for a Muslim to perform their Hajj pilgrimage. As such, every Muslim can identify with this product and understand how it can benefit them in the long run," Azrina said.
Azrina who has successfully promoted PruBSN Ummah to over 250 participants said that many people are attracted to PruBSN Ummah as it not only provide a comprehensive protection plan, but also complements the cost of performing Hajj. "In Malaysia, it is the norm that individuals register with Tabung Haji and wait for their turn to perform their Hajj. When an individual adds the PruBSN Ummah plan to their Tabung Haji investments, they can accumulate additional savings that can be used towards their pilgrimage in Mecca," added Azrina. The PruBSN Ummah plan allows participants to withdraw part of their savings after the fifth year to perform their religious pilgrimage.
Azrina also said that this plan which has attractive benefits made it stand out in the market. Basyaratul Husna, a 24 year old executive agreed with Azrina and said that the double indemnity, Badal Hajj and critical illness coverage option particularly attracted her to purchase the PruBSN Ummah protection and savings plan. "Although I am fairly young, I realise that life comes with its own sets of uncertainties. The PruBSN Ummah plan gives me enough protection through the Badal Hajj coverage and Crisis Shield to ensure I feel secured that someday no matter what life has in store, I will be able to perform my duty to my religion."
With the Badal Hajj option, a PruBSN Ummah participant can realise their Hajj obligations in the event of untimely death or total and permanent disability. Here PruBSN Ummah will pay MYR 3,000 (USD 1,001)to a participant's chosen nominee or Tabung Haji to perform Badal Hajj on the participant's behalf. The Crisis Shield rider on the other hand, boosts the Ummah product by providing comprehensive coverage from 36 critical illnesses. These riders not only ensure participants receive coverage in the event that they are hit with one of these critical illnesses, but also ensure their savings and protection plans are protected.
Basyaratul also said that other factors which attracted her to the product was the loyalty bonus which added value to the overall PruBSN Ummah plan. "Loyalty bonus like the Hajj Allowance given to customers who makes prompt contributions throughout the Takaful period is another attractive feature of the PruBSN Ummah plan as it gives participants a chance to look forward to additional fund for their pilgrimage," said Basyaratul.
The Hajj Allowance can be used to supplement a participant's pilgrimage expenses in Mecca or put towards their family's financial needs. This loyalty bonus will continue to accrue even after payout of the Hajj allowance, as long as the participant continues making contributions towards their certificate. Basyaratul who signed up for the PruBSN Ummah plan after receiving strong recommendations from family and friends is satisfied with her decision and strongly recommends it to complement savings made with Tabung Haji.
Azim Mithani, Chief Executive Officer at PruBSN concluded "PruBSN Ummah is an exciting and groundbreaking product that answers the call for the Takaful industry to innovate to provide exclusive and tailor-made Takaful solutions. This product truly sets PruBSN as a market leader in product innovation."