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Sun Life launches the benefits of waqf

Reporter: Arkani Ikrimah | Editor: Dessy Rosalina

KONTAN.CO.ID – PT Sun Life Financial Indonesia (Sun Life) launched the benefits of waqf for a sharia life insurance product policy, Monday (14/8)

Through this benefit, Sun Life answers customers ‘needs not only in terms of the need for better financial protection and planning, but also to fulfill customers’ needs in worship, especially waqf.

“The launch of the benefits of waqf in the Sun Life sharia insurance policy is a manifestation of our commitment to providing complete services and sharia insurance products,” said Elin Waty, President Director of Sun Life.

The launch of the use of waqf is also based on the Muslim community who dominates the population in Indonesia, according to Elin, which will facilitate marketing.

As for the industrial sector, the presence of the benefits of waqf can be used as a new momentum which is expected to contribute to increasing the penetration of Islamic life insurance in Indonesia.

Through the benefits of waqf, customers will receive long-term protection in accordance with sharia principles and can increase their charity through the opportunity for waqf.

To note, five of the eight Sun Life products have received the exclusivity of the Indonesian Ulema Council – the National Sharia Council to directly donate insurance policies. This is in accordance with the MUI fatwa, DSN MUI NO 106.

The fatwa provides a decision that insurance participants can donate their insurance benefits up to a maximum of 45% of insurance compensation and donate their investment benefits up to a maximum of 30% of total assets and / or inheritance.

The benefits of waqf in sharia life insurance products carried out by Sun Life are also supported by the Indonesian Waqf Board.

“This is a new breakthrough from Sun Life so that people do not only wish to do waqf, but also do it right away,” said HM Nadratuzzaman Hosen.

According to him, this product will also help customers to do good deeds and leave children who are not economically weak because the heirs get a share of the customer’s assets.

In terms of distribution of waqf, Sun Life collaborates with waqf asset management institutions, such as BWI, Dompet Dhuafa, Rumah Wakaf, and 174 institutions registered with BWI.

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