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Generally, a Marketing Illustration is a document prepared and shared to potential consumers for the purpose of illustrating contribution payment, benefit structure, investment expectations and etc. This information allows potential consumers to compare takaful products accurately.

Marketing illustration is a pre-participation collateral to consumers. It takes into account the consumers’ details such as age and gender to determine the necessary calculations to be presented to the consumers, which includes:

  • rates,
  • product benefits,
  • projections and
  • important clauses or notices.

As the name implies, a marketing or plan illustration is not a binding agreement and does not guarantee the issuance of a certificate.

The illustration is largely a documented presentation based on the available information at the time the illustration is generated. The actual and legal terms and conditions associated with the certificate are contained in the certificate document.

A Takaful representative and/or a Takaful Operator provides you with a marketing illustration at the time when you are considering to participate in a family takaful plan to show you the plan’s features and benefits.

Bank Negara Malaysia (BNM) regulates the disclosure and structure of marketing illustration that Takaful Operators are required to apply as the basis for their marketing illustration to promote disclosure, consistency and clarity of contents.

At the point of proposal / application, the Takaful Operator will need to provide an illustration of contributions and benefits related to a specific proposal for a family takaful plan.

Click here for a sample of marketing illustration for selected traditional products as required by BNM.

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