Ada ke insurance package offer as low as rm50 per month?

if vanpersie91 is a Muslim, it doesn't seem to be a takaful plan. More like a conventional policy.

It is recommended as Takaful will allow Muslims to nominate someone through Hiba(gift) so that upon their demise, they are not subject to Faraid law distribution and the full amount will be given to the person they've nominated in the policy.

In a conventional policy, there is no such clauses for muslim thus even they choose to nominate someone to receive whole lump sum, that person will just act as an executor to distribute back based on Faraid distribution.

Thus the conventional policy will defeat the purpose for a muslim to purchase as they can't choose the person they wish to give the death benefit to upon death.

Yeap, that's right, some could have bought under the conventional policy. Takaful was created to cater that need for the Muslim market that is Shariah compliant.

The Takaful industry in Malaysia started to gain momentum when, in October 1982, the Malaysian government formed a special task force to explore the viability of setting up an Islamic insurance company. Out of that study and based on its recommendations, the Takaful Act 1984 was gazetted and came into force thereafter. At first glance, there does not appear to be much difference between conventional insurance and Takaful. Indeed, in terms of concept, there is none as both subscribes to the long established principle the “pool of the many to help the unfortunate few”.

http://www.malaysiantakaful.com.my/About-M...ory-of-MTA.aspx

How is takaful different from the non-takaful insurance plan?