Broader access to Takaful: your need matters even when we can't meet it yet
Najmaa's ambition to make Takaful available to every Muslim in Australia, and how telling us your needs helps.
3 min read
Your need matters, even when we cannot meet it yet.
Najmaa’s ambition is for every Muslim to have the opportunity to choose protection that reflects their faith. We want to make Takaful available as widely as we responsibly can, helping people make everyday financial decisions in line with their Islamic values and obligations.
That ambition guides our work. It also means being open about the limits of our current offering and how the community can help us build the case for broader access.
Why Some Restrictions Apply
Our rating factors were designed by Finity and approved by our Retakaful providers, which provide additional risk support to the mutual. These factors help assess risk and calculate the contribution for protection.
We also work within agreed eligibility requirements and protection terms. Rating factors affect pricing; eligibility requirements determine which risks we can currently consider. This means we cannot accommodate every vehicle or circumstance.
Responsible growth requires us to consider the effect of new risks on the mutual and the people who already rely on it.
Electric Vehicles Show Why Evidence Matters
Electric vehicles provide a practical example. Our Retakaful providers want more relevant claims and repair data before supporting broader protection for these vehicles.
After an accident, can a damaged battery be repaired safely, or will it need replacing? What will that cost, and are qualified repairers available? Industry research continues to identify challenges in assessing and repairing electric vehicles.
Without sufficient confidence in those costs, pricing and agreeing the scope of protection become more difficult.
Our current vehicle protection terms generally exclude fully electric vehicles. Hybrids are not excluded on that basis, although other eligibility requirements still apply.
How Your Interest Helps
When you tell us what protection you need, you help us understand demand, including needs we cannot currently meet.
That information helps us identify how many people are seeking particular options and where our offering could develop. It can strengthen discussions with our advisers and Retakaful providers about broader eligibility, new products and the support needed to offer them.
For example, enquiries from electric vehicle owners help show the demand for an option consistent with their faith. Claims and repair information then helps providers assess whether and how those risks can be supported.
Demand data shows the need. Risk data helps assess what is possible.
Both matter. More enquiries alone will not remove a restriction, but clear demand can help establish which opportunities deserve further assessment.
Frequently Asked Questions
Why might Najmaa be unable to offer me protection today?
Your circumstances may fall outside our current eligibility requirements or the scope of the product. We must assess applications within those requirements, even when we would like to serve more people.
Should I still contact Najmaa if I own an electric vehicle?
Yes. Let us know the vehicle you own and the protection you are seeking. Your enquiry helps us understand needs that are not currently served and strengthens the evidence of demand.
Does expressing interest guarantee future protection?
No. Broader access depends on risk assessment, suitable pricing, Retakaful support and the necessary approvals. An enquiry does not guarantee acceptance, a particular price or a launch date.
Help Us Build More Choice
If your needs fall outside our current offering, we still want to hear from you. Understanding those needs helps us work towards a future where more Muslims have a practical choice consistent with their faith.
Contact Najmaa to tell us what you are looking for. Information you provide is handled in accordance with our Privacy Policy.
Your interest can help shape what comes next.
Takaful. Protection with Purpose.
Important Information
Protection is arranged by Najmaa Group Pty Ltd (AFSL 527623) and issued by Najmaa Mutual Limited. Protection is not insurance and is provided at the discretion of Najmaa Mutual Limited. Any advice is general advice only and does not take into account your objectives, financial situation or needs. Please read the relevant Product Disclosure Statement, Financial Services Guide and Target Market Determination and consider whether the product is appropriate for you.
