Hyat Plus - Family Takaful Plan - Features, Benefits & Risks.

Hyat Plus is a Whole of Life Takaful Plan from Salama.

Before we review the Hyat Plus plan, let us understand some basics of the Islamic Takaful Plan.

What is Takaful?

Takaful, is an Arabic word meaning “Guaranteeing Each Other”, it is;

  • A form of mutual assurance that strictly observes the rules and regulations of Shari’a (Islamic law)
  • A system based on mutual co-operation and responsibility.
  • Providing assurance and protection among a  group of participants upholding the principle of "bear ye one another’s burden"
  • In practice in Arabia from the 6th century

Idikhar-Plus-Savings-Plan-from-Salama-2About Salama

Islamic Arab Insurance Company (SALAMA) is the world’s largest and oldest Takaful Company.

It was established in 1979 and has a presence in UAE, Saudi Arabia, Egypt, Senegal, Jordan, Beirut, Algeria, Malaysia, China, and Mauritius.

Salama offers Family Takaful, General Takaful and Health Takaful solutions in over 60 countries

It is listed on the Dubai Financial Market and is rated as A-(Stable) by S&P and A-(Excellent) by AM Best Rating.

About Hyat Plus

Hyat Plus is a Unit Linked Family Takaful plan, aiming to provide a life cover up to age 100.

It is a robust plan, through which you can invest in Sharia-approved Islamic Funds and also protect your family from loss of income due to death, disability, and Critical Illness.

The aim of this plan is to provide a lifelong cover with a minimum premium payment,  over a certain period(usually between 7-20 years). A part of the premium paid is invested in Islamic Mutual funds, to cover the future premium costs, and the balance is used to cover the cost of insurance for the current period and for other charges.


Abdul is 30 Years old, married with 2 children. He is considering Salama Hyat Plus because it can provide him a whole of life cover with riders like Critical Illness Benefit till age 100.

Because he is an ex-pat, he is not sure if he will be able to pay premiums till age 100, so he chooses a premium payment term of 7 years for a cover amount of USD 100,000 with a monthly premium of USD 270 for 84 months.

So if Abdul pays USD 270 per month for 84 months, amounting to USD $30,240/- he will be covered for $100,000 for both life and Critical illness till age 100.

Abdul can also ch0ose a 10, 12, 15, or 20 years or more premium payment period, depending on his affordability.

You have to bear in mind, that if you choose a premium payment period in excess of 20 years, you might end up paying more overall.

Salama Hyat Plus - Product Specifications

Sl. No Particulars Details
1 Coverage Term 100 Minus age at Entry
2 Coverage Basis Single Life Only
3 Minimum age at entry 18 years
4 Maximum age at entry 74 years
5 Minimum Life cover $ 100,000
6 Currency options AED & USD
7 Minimum premium Monthly Quarterly Half Yearly Yearly
$50 $150 $300 $500


HYAT Plus – Rider Benefits 

  1. Critical Illness Benefit provides a cash lump sum if the takaful member is diagnosed with one of the 36 Critical illnesses covered. The Maximum Critical Illness benefit can be up to USD 1.25 Million
  1. Waiver of Contribution Benefit: waives regular contributions when the member is totally and permanently disabled for a continuous period of at least 180 days.
  1. Accidental Death Benefit provides a cash lump sum in addition to the cover amount, where the death of the takaful member is directly and solely because of an accident.
  1. Total Permanent Disability Benefit pays a lump sum if the member is totally and permanently disabled for a continuous period of at least 180 days.
  1. Family Income Benefit: provides annuity payments to the Covered Member’s family upon his death for a period chosen by him between 1 and 40 years. The monthly amount required as annuity payments is chosen by the Covered Member at inception. The annuity payments are payable for the balance period of the selected term.
  1. Hospital Cash Benefit: pays a fixed amount chosen by the Client either USD 150 or USD 300 for each day that is spent in hospital by the Covered Member subject to a maximum of 30 days. There is a deferment period of 3 days.
  1. Accidental Dismemberment Benefit: pays a fixed amount if the Covered Member accidentally suffers from any bodily injury within 90 days of the accident. The dismemberment benefit is based on a defined are defined in a list.

Important Features

Full Encashment:

A Takaful member can fully surrender and cash out the plan at any time after the NIL allocation period without any surrender charge.

Partial Withdrawal:

After completion of 3rd plan year, the member can partially withdraw at any time without any withdrawal charge. It should be noted that the cover amount of the plan will reduce to the extent of the partial withdrawal. Minimum Partial Encashment is  5% of Fund Value subject to a minimum of $1,000.

Decrease of Regular Contribution: 

When the plan is paid for 3 years, regular contributions can be decreased at any Plan Anniversary. The reduced regular contribution can not be less than the prevailing minimum for new Plans.

Contribution Holiday : 

A takaful member can avail a Contribution Holiday for a maximum period of 1 year, provided he has paid at least 3 years of Contribution payments and the Plan has sufficient fund value to continue to be in force during the Contribution Holiday

Fund Choice: 

Members can choose up to 10 funds from the world’s leading fund houses on the Salama platform, to access the potential of the global financial markets with investments that can match their individual circumstances and risk tolerance.

Fund Switching :

Switching between existing Funds and strategies may be done at any time free of charge. However, SALAMA reserves the right to apply a Fund switch charge.


Members can choose to re-direct their future Contributions to different Investment Funds/Strategies or change the allocation amounts at any time


  1. As a financial adviser, I feel that I can confidently recommend Hyat Plus from Salama to my clients looking for a Shari'a-approved Family Takaful Plan.
  2. Because this plan is similar to Conventional Unit Linked Plans, investors should be aware of the market risks.
  3. Choosing a robust investment strategy with the help of an expert financial adviser will help mitigate the risks.
  4. This is not a savings plan, hence not suitable for short-term investment needs.
  5. The surrender value of such plans is usually low in the initial years, hence a proper analysis of future cash-flows is essential before buying such plans.

If you want to know more about Hyat Plus, or any other Life Takaful Plan, feel free to call me on + 97150-2285405. Or  arrange a free initial meeting 

Click here to arrange a free online meeting

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