Z a k a t o n I n s u r a n c e
Zakat
Zakat on Wealth Zakat Fitrah
Zakat on Savings
Zakat on Business
Zakat on CPF
Zakat on Insurance
Zakat on Shares
Zakat on Gold
Zakat on Insurance
Zakat on Insurance
“Surrender Value”
Zakat on Insurance
$5,500 (“Surrender value”)
x 2 . 5 %= $137.50
(Zakat on Insurance)
E.g. Benefit Illustration
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
1 3,732 10,406 2,116
2 4,666 10,510 2,870
3 5,599 10,923 3,241
4 6,532 11,443 4,046
5 7,465 12,071 4,469
6 8,398 12,811 5,500
Step 1 Step 2 Step 3 Step 4 Step 5
Step 1 Step 2 Step 3 Step 4 Step 5
Obtain nisab value
Step 1
Obtain nisab value
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
E.g. Benefit Illustration
www.zakat.sg
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
E.g. Benefit Illustration
Step 1 Step 2 Step 3 Step 4 Step 5
Obtain nisab value
Step 1
Berita HarianMarch 2010
Nisab$4606
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
E.g. Benefit Illustration
Step 1 Step 2 Step 3 Step 4 Step 5
Obtain nisab value
Step 1
Step 1 Step 2 Step 3 Step 4 Step 5Step 2
Refer to benefit illustration
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
1 3,732 10,406 2,116
2 4,666 10,510 2,870
3 5,599 10,923 3,241
4 6,532 11,443 4,046
5 7,465 12,071 4,469
6 8,398 12,811 5,500
E.g. Benefit Illustration
Step 1 Step 2 Step 3 Step 4 Step 5
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
1 3,732 10,406 2,116
2 4,666 10,510 2,870
3 5,599 10,923 3,241
4 6,532 11,443 4,046
5 7,465 12,071 4,469
6 8,398 12,811 5,500
E.g. Benefit Illustration
Step 3
Find the date when nisab is reached
Determine insurance date
Step 1 Step 2 Step 3 Step 4 Step 5
Obtain surrender value
Step 4
$5,500(“Surrender value”)
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
1 3,732 10,406 2,116
2 4,666 10,510 2,870
3 5,599 10,923 3,241
4 6,532 11,443 4,046
5 7,465 12,071 4,469
6 8,398 12,811 5,500
E.g. Benefit Illustration
Step 1 Step 2 Step 3 Step 4 Step 5
Your Zakat on Insurance is:
$5,500 (“Surrender value”)
x 2 . 5 %= $137.50 (Zakat on Insurance)
Step 5
Year PremiumsTotal
Death Bene!tTotal
Surrender ValueTotal
1 3,732 10,406 2,116
2 4,666 10,510 2,870
3 5,599 10,923 3,241
4 6,532 11,443 4,046
5 7,465 12,071 4,469
6 8,398 12,811 5,500
E.g. Benefit Illustration
