Introduction:
After an accident, handling a claim becomes very important. Takaful and conventional insurance may look similar, but their approach and approval process can differ. BJAK lets you compare plans and understand the Claim Process Between Takaful & Conventional, so you can choose a policy that’s easier to claim when needed.
1. Conceptual Differences & Implications on Claims
- Takaful: Based on mutual help and risk sharing. Each claim is reviewed to ensure Shariah compliance, especially for surplus funds and payout distribution.
- Conventional: Focuses on the company’s profit model, with faster and more automated claims because the insurer assumes all the risk.
This affects approval times and how payouts or compensation are distributed.
2. Documents & Requirements
- Takaful: May require additional documents, such as Shariah verification or specific claim reports.
- Conventional: Typically only needs a police report, photos of damage, and standard claim forms.
BJAK provides a complete list of documents during quotation so you can be prepared in advance.
3. Speed of Claims Process
- Takaful: Processing may take slightly longer if issues require Shariah review.
- Conventional: Faster processing, especially with insurers like Allianz, Liberty, and MSIG on BJAK, which offer digital claims systems.
4. Additional Benefits
- Takaful: Apart from compensation, you may receive surplus fund distribution if no claims are made.
- Conventional: Often provides add-ons such as windshield coverage, towing, or flood assistance.
Conclusion:
Both Takaful and conventional insurance protect your car, but the way claims are handled can differ. BJAK helps you compare all plans and understand the Claim Process Between Takaful & Conventional, including required documents and extra benefits, making it easier to pick a policy that works best for you.
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