( - The Peninsula) Pak-Qatar Family Takaful Limited, the pioneer of Family Takaful in Pakistan, has launched its first Individual Family Takaful products in the country, including Share and Care-Savings Takaful and ABC-Education Takaful plans.

These plans are the first of their kind to be launched in Pakistan, Pak-Qatar Family Takaful Limited CEO, P Ahmed said at a press cnference yesterday to announce the new schemes.

Pak-Qatar Family Takaful Limited's main sponsors consist of some of the most prominent and leading financial institutions from Qatar, including the Qatar Islamic Insurance Company, Qatar Islamic Bank, Qatar National Bank and Munich based FWU AG. The initial paid-up capital for Pak-Qatar Family Takaful is 525 million rupees.

As for the new products, Share & Care-Savings Takaful is an ideal plan for families wishing to save smaller amounts of money and accumulate it into large investments for future needs like buying a house or providing financial support in old age, officials said.

Together with the benefit of savings, this plan offers financial protection to the family if the bread-winner is unable to provide for it in future due to any unfortunate event.

The ABC-Education Takaful Plan is particularly designed for families wishing to ensure the continuity of their child's ongoing education even if the sponsor parent is not around. It helps to multiply savings for the ever increasing educational expenses. On completion of the membership-term the investment value of the plan will be paid either as a lump sum or in regular installments to be utilized for the payment of college/university fees.

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