EduCare

Your Child’s Education Lifeline
One of your foremost responsibilities as a parent is to ensure that your children get the best education possible. When it comes to your child, it’s never too early to start planning. With EduCare, you’ll guarantee the funds for every stage of their learning, even if the unthinkable happens to you.
 

Why EduCare?
Noor EduCare is a unique Shari’a compliant investment-linked plan designed to help you invest and save your money on a regular basis to meet your child’s future college educational expenses. The plan will protect you and your child from the covered unforeseen events that may occur to you or your child during the term of the plan. The company will pay a lump sum benefit in case of your death or disability and will ensure that the plan is in force.
 
Low monthly investment: Noor EduCare is an affordable takaful plan made for your unique requirements. Get started with a minimum of AED 200 per month, with the option to increase your contribution at any time.
 
Choose your investment funds: You can select your investment fund, with the support of a dedicated financial planner, to best suit your financial goals and risk profile.
 
Choose your investment period: Your investment period can be anywhere from 2 years and up to 30 years, provided your age at the plan’s maturity does not exceed 75 and child’s age does not exceed 25 years. On expiry of the contract period, the total amount accumulated will be paid out to you.
 
Design your own benefits: With optional benefits available, Noor EduCare lets you customize your plan according to your individual needs and budget.
 

Benefits
Core Benefits
 
Primary Takaful Cover
Nothing can replace you, but money provided at the right time will ensure that your child’s education expense is secure without you.
 
The EduCare primary takaful cover provides a lump sum payment equal to 100 times your monthly contribution.
In addition, a continuation benefit will be provided where the future contributions will be paid into your plan from the date of death until the maturity. In case of death of the child the entire cash value will be returned to you or you may nominate the plan in the name of another child.
 
Permanent Total Disability
In case a disability leaves you unable to work and earn an income, this benefit provides you a lump sum payment equal to 100 times of your monthly contribution. In addition, a continuation benefit will be provided where the future contributions will be paid into your plan from the date of your disability until the maturity. In case of permanent partial disability or permanent total disability of the child due to an accident a lump sum benefit will be provided.
 

Client Illustration
Client Age : 35 yrs
Sex : Male
Smoker / Non Smoker : Non Smoker
Term of the Plan : 10 years
Assumed Growth Rate Plan : 5% p.a.
Currency : AED
Contribution Primary Takaful Cover Net Value of Investments
at Maturity
1,000 100,000 138,532
5,000 500,000 706,221
25,000 2,500,000 3,524,275
50,000 5,000,000 7,087,342
*Disclaimer: For illustration purposes only
 

Additional Benefits
 
Additional Level Term
Quite simply, it’s a takaful cover that protects you for a specific period of time, or “term”.
 
Accidental Death
In addition to the primary takaful benefit covered under the plan, this optional benefit provides cover for death resulting from an accident.
 
Critical Illness
If you are diagnosed with a covered critical illness, your plan will pay you a cash benefit of up to 50 percent of your primary takaful benefit amount, up to a maximum of AED 367,000.
 

Benefit Combination
Additional Benefit Minimum
(AED)		 Maximum
(AED)		 Term
(Years)
Primary Takaful Cover 20,000 No Limit 5-30
Permanent Total Disability 20,000 No Limit 5-30
 

Additional Benefit		 Minimum
(AED)		 Maximum
(AED)		 Term
(Years)
Accidental Death Benefit 5,000 No Limit 5-30
Additional Level Term 5,000 1,000,000 5-30
Critical Illness Benefit 2,500 367,000 5-30
*Please refer to the Takaful Certificate for specific terms, conditions and other details regarding the benefits, eligibility and exclusions outlined in this brochure. Takaful Certificate is available upon request.
 

Special Features
 
Noor EduCare provides flexible options to suit your personal protection and investment needs. It is designed with your needs in mind to offer you the following key features:
 
Continued Savings
  • Continued monthly contributions credited to your child’s account in the event of your untimely death or permanent total disability, securing your child’s education expenses.
 
Affordability
  • Low minimum monthly installments, starting from AED 200 per month.
 
Unmatched Flexibility
  • Additional protection available above the continuous instalments payable in the event of your death or permanent total disability.
  • Additional contributions allowed at any time during the investment period.
  • Asset allocation changes allowed (switch among funds to get maximum return on your investment).
  • Option to add various rider benefits, based on your specific circumstances and requirements, to secure maximum protection.
 
Transparency
  • Regular reports sent to you as a member of the takaful community.
  • Ability to track your fund performance on a regular basis.
 
Liquidity
  • Option to exercise partial withdrawal from your investment, if required.
  • Minimum investment period of only two years.
  • Option to terminate or withdraw entirely from your plan at any time.
 
Fund Options
  • A wide choice of funds - equity growth portfolio, balanced portfolio, secured portfolio or combinations.
  • Option to choose your fund mix, based on your asset allocation and risk-return appetite.
  • All funds approved by Fatwa and Shari’a Supervisory Board of Noor Takaful.
 
Global Portability
  • Establish your plan with Noor Takaful and it’s yours forever – no matter where in the world life takes you.
 

Investment Choice

 
One of the keys to maximizing your financial returns, is to make an investment choice that is right for you.
 
Noor Takaful provides a flexible choice of funds. To make it easier for you to assess which funds offer you the right balance between risk and reward, we have handpicked top-performing fund managers that cover a broad range of fund classes including growth, balanced, and secure. All our funds are approved by the Fatwa and Shari’a Supervisory Board of Noor Takaful.
 
No single investment option will suit every investor.
 
To create an optimal balance of funds that is right for your personal financial goals, we offer you a wide variety of options that help you achieve one of the prime objectives of superior investments – diversification.
Diversification should be viewed in light of each individual’s short and long term financial goals. Some elements of risk diversification to consider include geography, sector, and asset class.
 
Diversification means spreading the investment across different markets, sectors and asset classes, to reduce market risk. This protects investors from short term losses in one part of the portfolio, through exposure to stronger performance elsewhere. Through proper diversification, your investment risk is reduced, and financial returns are maximized.
 
Fund Management
Your fund manager charges a small fee for managing your investment. It is charged on a monthly basis, as a percentage of the Net Asset Value of your investment fund at the time of valuation. The percentage ranges from 0.5% to 2.0%, depending on the nature and complexity of your funds and the charges of any related fund managers.
 
*Disclaimer: The choice of funds is at the sole discretion of the participant. We can provide information on the range of funds available. However, we are not fund managers or financial advisors. Remember, all investments involve risk. The value of your investment can go up or down, and the returns are not guaranteed.
 
 
Talk to Noor Takaful today and let us look out for you.
Book an appointment:  if@noortakaful.com
 
Call:   800-6667 (and select the Noor Takaful option)
 
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