Optimization of Integration Model in Family Takaful

Ghazali, Puspa Liza and Abu Bakar, Nor Mazlina and Mohd Tahir, Izah and Mansor, Maslina and Wan Ismail , Wan Zulqurnain and Mamat, Mustafa (2015) Optimization of Integration Model in Family Takaful. Applied Mathematical Sciences, 9 (39). pp. 1899-1909. ISSN 1314-7552 (Printed) 1312-885X (Online)

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Abstract

The partition of premium life tables of the monthly payment defines the ratio of the riders. The overall monthly fee for the Integration model is RM50 and the overall total is divided into different portions; savings, pension, death coverage, death benefit, hospital bills, loss of ability to work or critical illnesses. This new plan offers complete riders for two people in one product plan; participant and a child. The overall total of the portions in riders are 54. Therefore, each partition out of RM5 is RM0.0926. The model offers buying multiple units for the product business. If the participant buys more than 1 unit, the value of premium, riders, surrender value and maturity value will be multiplied by the numbers of units bought by the participant. Keywords: Premium tables life, pension, death coverage, death benefit, hospital bills, loss of ability to work and critical illnesses

Item Type: Article
Subjects: Q Science > QA Mathematics
Faculty / Institute: Faculty of Economics & Management Sciences
Depositing User: DR PUSPA LIZA GHAZALI
Date Deposited: 05 Apr 2015 07:17
Last Modified: 12 Jul 2015 02:40
URI: http://erep.unisza.edu.my/id/eprint/3195

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