All Individual and Joint, Rupee and Foreign Currency transactional accounts (Qard & Mudarabah based deposits), active and dormant, shall be automatically enrolled in the scheme from the date of its launch.
All individual, joint and sole proprietorships accounts are eligible in this scheme. However, corporate accounts, partnership firms and any other account types are excluded from this scheme.
Takaful coverage for Accidental Death, Total Permanent Disability, Household Event and Mobile Phone shall come into effect immediately once the monthly average balance in the preceding month is maintained.
For Mobile Phone Claim, customer’s monthly average balance in the month preceding the date of incident should be greater than or equal to Rs. 500,000/-, without any exceptions.
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Takaful coverage for cash withdrawal through ATM and over the counter shall come into effect immediately at the time card is issued to the customer.
An accountholder becomes ineligible for takaful cover if his account closes down for any reason
Customer’s monthly average balance in the month preceding the date of incident should be greater than or equal to Rs.10,000/- for Accidental Death/Disability Claim/Household Claim, without any exceptions as listed here.
The Age limit in respect of Personal Accidental Death/Permanent Disability Takaful should be in between 18 years to 65 years.
The risk of terrorism and sabotage is specifically excluded from takaful coverage.
Account Holders with active services within any military, naval, air, police or correctional services (like armed forces, police, rangers and security guards) are excluded from this scheme.
The cash withdrawal coverage offered herein shall only be applicable if the accountholder suffers loss of cash whilst personally withdrawing the amount from the ATM and over the counter (debit card holders only). This facility is extended only on withdrawal within Islamic Republic of Pakistan (excluding FATA & Tribal Areas).
For Roshan Digital Accountholders, the household coverage is applicable only when the accountholder maintains/owns a house in Pakistan.
The Takaful is nontransferable and non-saleable.
The Takaful shall only cover the primary debit card holders. Spouse or any other family member will not be eligible to receive Takaful Cover under this scheme
Customers having more than one account with the bank shall be offered single takaful coverage of Personal Accident and Household Event and tier of claim will be applicable based on the highest maintained account balance in the preceding month.
In case of Joint Accounts, there will be single takaful coverage, which will be divided equally among the account holders in case of personal disability/death of all the joint holders.