Solidarity - Family Takaful offers enhanced education savings plan

Solidarity's existing SolidEducation plan, available to nationals, expatriates and international investors, is a Sharia'h compliant saving plan that provides families with the opportunity to put money aside to ensure their children can attend the educational institution of their choice.

As a new offering to enhance the existing line of Takaful products, Solidarity launched Protection Benefit which is attached as an added benefit to Solidarity savings plans, and benefits include Takaful Protection on Death, Takaful Protection for Critical Illness and Takaful Protection for Waiver of Contributions on Death.

"We are pleased to enhance our current Takaful offerings to include additional protection benefits for our clients. Solidarity's mission is to be the leading Takaful Company globally and, while operating in full accordance with the principles of Sharia'h, provide a full range of products at the highest degree of service possible," said Rob King, General Manager, Solidarity Family Takaful.

SolidEducation works as a saving plan that can be customized for each child in a family so their future educational needs are met. Families can choose to contribute a regular amount of money to each SolidEducation Plan on a monthly, quarterly or half yearly basis with terms ranging between 5 and 20 years. For families participating in the Plan, the opportunity to increase the value of a plan at any contribution due date exists.

As an additional benefit, the Solid Education Plan is available at 18 years of age. One of the keys to success when investing in the SolidEducation Plan is to start early. The younger one is when the plan is initiated, the more opportunity there is for increased savings accumulation.

"A good education today plays an integral part in obtaining a successful job and career path for most young adults entering the job market. It is such an important foundation for young adults. We at Solidarity believe that it is never too soon to begin securing the essential asset of an education for your children," said King.

"We strive to make this possible by offering affordable and flexible Sharia'h compliant savings plans that conform to the specific requirements of each client, whether it is the value or time period of the coverage needed," he added.

In addition to SolidEducation, Solidarity provides a wide range of Family Takaful products including SolidStart, SolidMarriage, SolidRetirement and Solidarity Hajj/Umrah. Because Solidarity offers a range of flexible saving plans, clients can decide which approach will best meet their needs.

Solidarity was originally established in direct response to the growing demand for Takaful products across the region, with the expanding scope of this unique Islamic system of insurance and assurance. Solidarity is poised to lead the way in providing the utmost safety and protection against the widest possible risks, along with a diverse range of prudent savings opportunities.

Over the coming years Solidarity plans to further expand their product line to tailor for the growing diversity of market demand for Sharia'h compliant investment and savings options.