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GENERAL PRINCIPLES OF UNDERWRITINGS & CLAIMS (10.4 FAMILY TAKAFUL…
GENERAL PRINCIPLES OF UNDERWRITINGS & CLAIMS
10.1 NATURE AND STRUCTURE OF TAKAFUL DOCUMENTS
ENDORSMENTS
RENEWAL NOTICE
COVER NOTE
POLICY FORM
CLAIM FORM
PROPOSAL FORM
COMPLETION AND DISCHARGE
10.2 UNDERWRITING - FOR GENERAL
TAKAFUL AND FAMILY TAKAFUL
DEFINITION : The process of classification, rating and selection of risk
PURPOSE : to analyze risks, evaluate the type of exposures that each risk poses to the Takaful Operator and established a contribution for those risks and exposures
10.3 GENERAL TAKAFUL UNDERWRITING
BUSINESS PROCESS UNDERWRITING
III. Rating Mechanism in General Takaful
IV. Tariff
II. Risk Selection Process
V. Underwriting Limits
I. Proposed Risk
10.4 FAMILY TAKAFUL UNDERWRITING
SOURCES OF UNDERWRITING COMPONENT AND PROCESS
Medical Report
Agent Statement
Family Takaful Application (Proposal Form)
Attending Physicians Statement (APS)
Hospital Medical Report
UNDERWRITING DECISIONS
Sub-standard / Modified - Approve an Application with Conditions Attached
Decline - Reject the Application
Standard - Accept the Application
RISK SELECTION PROCESS
Family HIstory
Occupational Factors
Age and Gender
Financial Factors
Current and Past Health Factors
Occupation and Hobbies
ISSUING A CERTIFICATE
Contribution Loadings
Renewal of Medical and Health Takaful
Non-Cancellable and Guaranteed Renewable
Guaranteed Renewable
Conditionally Renewable
Optionally Renewable
Exclusion Endorsements
ANTI SELECTION
PAYMENT OF CONTRIBUTION
PROPOSAL FORM
THE PURPOSE
This selection process consists of evaluating information and resources to determine how individual will be classified (whether as a standard or sub-standard risk)
10.5 CLAIMS - FOR GENERAL TAKAFUL & FAMILY TAKAFUL
CONDITION FOR A VALID CLAIM
COMMON FACTOR FOR DELAY IN CLAIMS
CLAIMS NOTIFICATION
GENERAL TAKAFUL CLAIM
Motor Claim
Non-Motor Claim
CLAIMS MANAGEMENT
FAMILY TAKAFUL CLAIM
Death Claim
Medical and Health Takaful
Hospitalization benefits
Disability Claims - Documentations
Critical illness
In the event of death