2020 | Annually | RM | ISM Statistical Yearbook
Family Takaful, or life insurance, does not mean insuring one's life but is financial protection for the heirs or beneficiaries of the deceased (or insured) against future unexpected financial risk. Family Takaful is based on the principle of Mudarabah, which relies on the principles of mutual cooperation. The chart shows the net contribution income by Malaysia family takaful companies in 2020.
Net contribution: Refers to the sum of premiums written by an insurance company over the course of a period of time, less premiums ceded to reinsurance companies, plus any reinsurance assumed.