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Frequently Asked Questions (FAQs)

Takaful & Insurance Benefits Protection System (FAQs)

Q1: What is the Takaful and Insurance Benefits Protection System?
Q2: Which takaful operators and insurance companies are member institutions of PIDM?
Q3: Which institutions are not insurer members of PIDM?
Q4: Must I apply or register for TIPS protection?
Q5: Are all takaful certificate and insurance policy owners eligible for protection under TIPS?
Q6: What takaful and insurance benefits are protected under TIPS?  What are the limits and scope of coverage provided under TIPS?
Q7: What types of takaful and insurance benefits are NOT protected under TIPS?
Q8: If I have an individual certificate or policy, would my group certificate or policy benefits be protected separately under TIPS?
Q9: If I have purchased takaful certificates or insurance policies with the same benefits from several insurer members, will all my takaful or insurance benefits be added up for purposes of determining my coverage limit under TIPS?
Q10: How can I know what is protected if I purchased several family takaful certificates or life insurance policies for myself and my family?
Q11: Can I buy additional insurance to get more coverage for my takaful or insurance benefits?
Q12: What happens to my takaful certificates or insurance policies if two insurer members merge?
 Q13: What happens to protected takaful or insurance benefits in the event an insurer member fails?
Q14: How do I claim for my takaful or insurance benefits protected under TIPS should an insurer member fail?
Q15: Who do I contact for further information?