Solidarity offers enhanced savings plan for retirement

Solidarity's existing SolidRetirement plan is a Sharia'h compliant plan that provides national, expatriate and international investors with a financial planning opportunity to save and invest their money aiming to ensure the very best for themselves and their family upon retirement.

As a new offering to enhance the existing line of Takaful products, Solidarity - Family Takaful developed Takaful Protection Benefits, attached to each saving and investment plan. As an added benefit to Solidarity - Family Takaful saving and investment plans, SolidRetirement includes Takaful protection benefits that cover Takaful Protection for Critical Illness and Takaful Protection on Death.

"We are pleased to have recently launched the Takaful Protection Benefits as an added feature to our current line of Family Takaful products. Solidarity prides itself on providing a full line of saving, investment and protection offerings at the highest degree of services possible while maintaining full accordance with the guiding principles of Islamic Sharia'h in all business transactions," said Rob King, General Manager, Solidarity - Family Takaful.

Solidarity - Family Takaful developed SolidRetirement Plan to fulfil saving and investment needs of its clients. SolidRetirement can be customized so that individuals can set their saving and investment goals to suit their retirement needs. The plan enables investors to benefit from their hard work by putting their determination towards an effective retirement planning strategy. Formulating a retirement strategy at an early age can ensure a head start on achieving a comfortable retirement.

Investors can choose to contribute a regular amount of money to their SolidRetirement Plan on a monthly, quarterly or half yearly basis with terms ranging between 5 and 20 years. The SolidRetirement Plan is available to investors as early as 18 years of age, and the opportunity to increase the value of the plan at any contribution due date exists for all participants. By contributing a regular monthly amount to a SolidRetirement Plan, each participant will provide the security of a regular income following retirement.

"Retirement should be a period of comfort in one's life, after years of hard work. At Solidarity - Family Takaful, we work with investors to help them plan ahead for retirement, to ensure that their golden years are spent enjoying life and not worrying about regular income. We advise customers that it is best not to wait too long to begin saving, because the longer they save, the more income they will have to rely on during retirement," said Bassel Hanbali, Head of Marketing, Solidarity - Family Takaful.

"We at Solidarity provide Islamic financial planning schemes and work with each client to ensure that the plan they choose is compatible with their lifestyle and budget. By offering an affordable Sharia'h compliant saving, investment and protection plan for Retirement, we can work to design a Sharia'h compliant financial planning method and determine the value and time period of the coverage needed to help clients finance their future," Hanbali Added.

In addition to SolidRetirement, Solidarity provides a wide range of Family Takaful Plans, that consist of saving, investment and protection benefits, including retirement, wealth accumulation, education, and other family and individual plans. Because Solidarity - Family Takaful offers a range of flexible saving, investment and protection plans; customers 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 Islamic 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 saving and, investment opportunities.

Over the coming years Solidarity plans to further expand their product line to tailor for the growing diversity of market demand for Islamic financial planning needs.