Conditional Hibah definition

Conditional Hibah in Takaful means You nominate a person during Your lifetime to be the recipient of Benefits payable under this Certificate;
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Conditional Hibah in Takaful means You nominate a person during Your lifetime to be the recipient of Benefits payable under this Certificate, subject to Clause 18 of Section A of this Certificate;
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Conditional Hibah means a Participant nominates a person, without any compensation and during the Participant’s lifetime to be the recipient of Benefit payable under the Certificate, subject to the Nomination and Assignment Clause of the Certificate;
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Examples of Conditional Hibah in a sentence

  • The takaful benefit is passed to the intended recipient (beneficiary) via Conditional Hibah contract which is revocable and shall only take effect after the death of the Participant and it is complete after Hibah recipient acknowledges receiving the Hibah.

  • Conditional Hibah is to be completed by the Participant who has attained the age of eighteen (18) years, whereby the nominee(s) shall receive the takaful benefit as a Hibah recipient (the beneficiary) and the takaful proceeds under this contract shall be excluded from applicable inheritance law.

  • Malaysia, Singapore and Brunei There are two (2) types of nomination in takaful: • Conditional Hibah is applicable to the beneficiary of the death benefit; it is revocable and shall only take effect after the death of the Applicant or after the death of the Person Covered and the Applicant is no longer alive and it is complete after Hibah recipient(s) acknowledges receiving the Hibah.

  • Takaful Hibah is a Conditional Hibah that is revocable and shall only take effect after the death of the Applicant (for the Applicant and the Covered Person are the same person) or after the death of the Covered Person and the Applicant is no longer alive (for the Applicant and the Covered Person not the same person) and it is complete after Takaful Hibah recipient(s) acknowledges receiving the Takaful Hibah.

Related to Conditional Hibah

  • Additional Holder shall have the meaning given in Section 5.10.

  • Transitional housing means buildings configured as rental housing developments, but operated under program requirements that require the termination of assistance and recirculating of the assisted unit to another eligible program recipient at a predetermined future point in time that shall be no less than six months from the beginning of the assistance.

  • Conditional Acceptance means a conditional acceptance by the Liquidity Provider of an extension of the Scheduled Termination Date.

  • Conditional use means a land use that, because of the unique characteristics or potential impact of the land use on the municipality, surrounding neighbors, or adjacent land uses, may not be compatible in some areas or may be compatible only if certain conditions are required that mitigate or eliminate the detrimental impacts.

  • conditional sale agreement means an agreement for the sale of goods under which the purchase price or part of it is payable by instalments, and the property in the goods is to remain in the seller (notwithstanding that the buyer is to be in possession of the goods) until such conditions as to the payment of instalments or otherwise as may be specified in the agreement are fulfilled;