LOLC’s Al-Falaah unveils Family First Takaful

Al-Falaah Takaful Life, the alternate insurance services unit of LOLC Life Assurance Ltd, unveiled Family First Takaful Insurance, offering comprehensive financial protection for the entire family, as yet another innovative product option, at a media conference recently.
Since 2007, LOLC Al-Falaah has revolutionised Sri Lanka’s non-interest-based financial services as the trend setter of the industry. Following the immense success of its alternate financial services, the LOLC group launched short-term General Takaful and Life Takaful services in 2014 and 2016, respectively, expanding its range of Islamic financial solutions to meet the growing needs of its customers.

Backed by the strength and stability of the LOLC group and an islandwide footprint of service outlets, Al-Falaah Takaful is designed exclusively to offer greater convenience to customers with all its products coming under the stringent supervision of a dedicated Shari’ah Supervisory Board (SSB) and an in-house advisor to ensure that all product features and processes adhere to set standards and principles.
Since its inception, Al-Falaah Takaful has endeavoured to offer personalised and innovative Takaful Insurance solutions to customers, whilst simultaneously addressing the business and socioeconomic requirements of diverse market segments and fulfilling and providing them with comprehensive protection and financial support in the event of unexpected events and uncertainties. 

Thus, the newly launched Family First long-term life insurance introduced by the Al-Falaah Takaful unit of LOLC Life Assurance Limited offers full protection for the entire family while adhering completely to Takaful principles, which emphasise on elimination of interest or ‘Riba’ and encourages mutual cooperation and help on the basis of voluntary contribution.
The Family First plan offers complete protection for the entire family, with a host of benefits, including permanent disability benefit, critical illness benefit, children’s critical illness benefit and accidental death benefit. Additionally, the plan offers flexibility in terms of contribution payments with multiple options available, including online payments, eZ-Cash or m-Cash payment methods and scanning the QR code.