QIB has launched its latest premium Takaful product – “family shield platinum”, which is exclusively available to the bank’s Tamayuz customers and underwritten by Damaan Islamic Insurance (BEEMA).Family shield platinum is a family Takaful policy available to nationals and expatriates and one that is “uniquely tailored” to provide financial security for the family during an unforeseen event, such as a critical illness, permanent total disability, or the misfortune of an early demise.With the “best price” in the market, family shield platinum coverage can reach up to QR10mn with an affordable premium that can be contributed annually or semi-annually. The cost of coverage premiums can vary depending upon individual requirements, age, gender, health and lifestyle. Individuals have the option of choosing coverage for death, critical illnesses (some 11 terminal diseases are covered) and total permanent disability, whereby each individual case will come with various benefits for the family if they should happen.D Anand, general manager (personal banking group), QIB, said: “The family shield platinum is another product joining the suite of premium products and services specially designed for our Tamayuz members and is aimed at giving peace of mind to customers concerned over protecting their family. We all want to put our families first. This unique Takaful product reinforces QIB’s commitment to provide the best services for the clients and their families as they always come first, and we want to ensure their financial security and bright future.”Takaful is perceived as co-operative insurance, where members contribute a certain sum of money to a common pool. The most important principles of Takaful are: policyholders co-operate among themselves for their common good; every policyholder pays their contribution to help those who need assistance; losses are divided and liabilities spread according to the community pooling system; uncertainty is eliminated in respect of contribution and compensation and that it does not derive advantage at the cost of others.QIB launched the Tamayuz programme at the beginning of the year and since then QIB has been introducing dedicated products and services such as the MasterCard Platinum debit card, international Sukuk portfolio and exclusive financing products. All these products and services are provided through exclusive Tamayuz centres at C-Ring Road, Fanar, Salwa Road and Rayyan, with dedicated relationship managers and a round-the-clock call centre.