“Statistics have shown that there are roughly around 31 diseases that cause death in Brunei, such as stroke, cancer, and Alzheimer’s disease, just to name a few.”

In observance of the upcoming World Health Day, Sutera spoke to Mohd Faliq Hj Mohd Johari from the Corporate Sales Department at Takaful Brunei Keluarga (TBK) about raising awareness on health and ensuring that everyone has access to the care that they need.

TBK highlights that the difference between Islamic Financial Planning (IFP) and regular financial planning is that IFP focusses more on financial planning based on Syariah principles, where the focus is not only in this life, but also the hereafter.

Photo courtesy of Takaful Brunei Keluarga

The basics of IFP include ‘Family Income Protection’, which is essentially the amount that you need to protect yourself with to avoid financial burdens.

TBK would like to highlight that individuals can have the option of preserving their standard of living with TBK’s main protection plans, Takaful Aman and Takaful Critical Illness – eligible for yellow IC bearers, as well as permanent residents of Brunei.

Faliq explained that the difference between the two plans is that Takaful Aman will compensate you or your beneficiaries in the event of death of total permanent disability, whereas Takaful Critical Illness will compensate you in the event of any critical illness occurs.

A health declaration form will be presented during sign-up in case there are any issues to consider before going through a medical check, noting that pre-existing illnesses are not covered.

“You can start being on the protection plans as early as six months old, the earlier the better.”

Photo courtesy of Takaful Brunei Keluarga

According to Faliq, Bruneians do not consider financial planning until they are in their mid-30s or pushing 40. “Ideally you should start being financially literate the day you land a job, or even before that,” he said.

“I think one of the ways to look at it is that it is a way to preserve your standard of living in the event of an accident, as financial planning could protect you from any financial burdens that might occur in the event of those accidents,” he added.

Financial literacy is one of TBK’s goals, whereby they wish to educate more young people on how to manage their wealth, how to use it properly, and especially how to protect it. If you are interested in consulting them with your financial planning, an appointment can be arranged by calling 223 1100.