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Drive Growth with Waada

Transforming the retail insurance landscape with a full-stack B2B2C insurtech approach.

Your safety net against life’s surprises, our products combine life insurance and investment, giving you control over your future and finances.

Flagship Product: Protection & Savings (P&S) Plans

Our Protection and Savings plans are a comprehensive financial solution designed to provide both security and financial growth. This plan offers Shariah Compliant life insurance coverage to protect your loved ones in case of unforeseen events, while also allowing you to build savings over time and investment returns on those savings. With flexible contribution options and investment growth through a variety of funds offered according to your risk appetite, this product helps safeguard your family and enables you to achieve your financial goals.

Our P&S Plan costs a third of the market price, with a faster breakeven period. Our plans will soon be available with our distribution partners:

Life Insurance: Crisis-Proof Your Future

Our Life Insurance plans are a reliable solution designed to offer financial security and peace of mind for you and your family. These plans provide comprehensive coverage, guaranteeing a lump sum payout, regardless of the circumstances, ensuring that your loved ones are financially protected in case of unforeseen circumstances.

Why should you choose us?

  • Tailored Coverage: Comprehensive plans and coverage for natural or accidental death, customized to your needs.
  • Financial Security: Tax-free lump sum to beneficiaries for living expenses, funeral costs, and more.
  • Value for Money: Competitive rates maximize your insurance investment’s financial benefits.
  • Trust and Reliability: Dependable coverage for accidents, emergencies, disabilities, and more.
  • Quick Digital Enrollment: Easy online sign-up with minimal paperwork – no exams required.
  • Hassle-Free Claims: Fast claim process—submit documents and get settled within 72 hours.

Key Features

  • Natural Death Coverage: Waada offers financial support for natural death, ensuring your family’s security in unforeseen circumstances.
  • Accidental Death Benefit: Double payout for accidental death, providing extra financial protection for your family.
  • Break-Even Period: Waada Plans offer a shorter break-even period with a when compared to the market.

How it Works

1. Get in Touch

Get in touch with any of our distribution partners to begin the process of enrollment.

2. Customize

Notify us within 90 days of hospitalization due to illness, injury, or maternity.

3. Purchase

Provide the supporting documents and begin contributing to your plan.

Exclusions

Please note that benefits won’t be payable in the following cases:

  • Intentional self-harm, murder, or suicide attempt.
  • War, strikes, riots, civil commotion, and declared emergencies.
  • Age below 18 or over 65.
  • Failure to report the event within 180 days.

Frequently Asked Questions (FAQs)

Yes, the offered plan follows Shariah principles, ensuring it is compliant with Islamic financial guidelines. Waada operates under the guidance of a Shariah Advisor, who ensures that our products and processes are shariah compliant at all times. This means the plan aligns with ethical and interest-free practices, providing a suitable option for individuals seeking financial solutions that adhere to Shariah standards.

A protection and savings Takaful membership is a comprehensive financial tool that combines Takaful with a savings and investment component. It serves as a safety net, providing financial security for your loved ones in case of unforeseen events, while also helping you build savings for future needs.

The savings component allows you to accumulate funds over time. A portion of your Contribution goes into an investment account. This amount will grow by way of investment in Shariah compliant investments. The investment returns are based on selection from funds created in a manner to optimize returns. Investment returns are however subject to market risks and the return is not guaranteed. Due to Shariah compliance, the fund's performance may be different from a conventional fund of similar risk profile. This provides you with a financial cushion that can be used for various purposes like education of children, marriage of children, home purchase, retirement planning, or safe keeping funds for emergencies.
Yes, our protection and savings plans are flexible. We can help you tailor the coverage amount, duration, and Contribution payments to align with your specific financial goals, lifestyle, and family needs.

Yes, you can cancel anytime you need. However, with cancellation, the benefit of takaful will be not available to support your family in time of need. 

During the first 21 days (free look period), the membership will be canceled and Contribution paid will be refunded. Takaful Donations for the 1st month will not be refunded. Any investment gain or loss will be borne by you.

Early cancellations, after the free look period, may result in losses as charges during the first two years are higher due to the initial setup cost of the membership.

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