Caveat Emptor!
ALWAYS read the fine print on your insurance policy. It seems that Amana Takaful wants to penalize me for cancelling my policy allowing only 25% refund although I have used only six months of a twelve month policy!
But I also learnt that this is a common practice for all insurance companies - SO BEWARE! if your renewing your policy that is the only real time that you can switch between insurance companies without incurring a penalty.
AND ALWAYS read the fine print…
P.S. I was able to get away by paying for 50% of the insurance charge instead of the mandatory 75% since I argued that my sales rep Mr RF did not submit me a proper quotation for 4 months - the argument was accepted by the company.
Moral of the story - always fight for your rights as a customer!
