Modelling gold based medical takaful

The current model of Medical and Health Takaful requires
each participant to contribute their monthly premium at a
predetermined amount. The premium is quite high due to
the fact that the Takaful need to cover the cost of private
medical treatment, like hospitalisation, surgery and
treatment, being diagnosed with certain illnesses or are
involved in an accident. Given all of these benefits that
would be received by participants, Takaful providers
should have less problem in marketing their Takaful
products as well as to maintain their participants’ account.
But the present situation is contrary. Many Takaful
participants not paying their premiums after they have been
insured for a period of time.