The difference is in the contract, not the benefits.
PT Asuransi Allianz Life Syariah Indonesia has operated as a separate entity since 2023, with segregated fund management overseen by a Sharia Supervisory Board.
How it works
In sharia insurance the relationship between participants is not the sale of risk but mutual assistance. Part of your contribution enters the tabarru' fund — a benevolent fund jointly owned by participants — which pays benefits to participants who suffer a loss.
The insurer acts as manager of that fund and receives an ujrah, a fee for its management services. This differs from conventional insurance, where premium becomes the property of the company and risk transfers to it.
Side by side
| Aspect | Sharia | Conventional |
|---|---|---|
| Underlying principle | Mutual assistance between participants (ta'awun) | Transfer of risk to the company |
| Status of funds | Tabarru' fund jointly owned by participants, managed by the company | Premium becomes company property |
| Company's remuneration | Ujrah for management services | Margin between premium, claims and costs |
| Underwriting surplus | May be distributed to participants under the policy terms | Forms part of company profit |
| Investment | Restricted to sharia-compliant instruments | Not restricted by sharia criteria |
| Supervision | OJK and a Sharia Supervisory Board | OJK |
What follows is a summary written for general understanding. The benefits, annual limits, waiting periods and exclusions that actually bind are those in the Policy and the official illustration issued by Allianz, and cover is always subject to underwriting.
What is available
The Allianz sharia line covers health, life and long-term planning. Among the newest is AlliSya Preferred Medical, the sharia version of the health product launched in April 2026, with three plan tiers and territory options extending to Asia and Australia.
According to Allianz Life Syariah Indonesia's management, the product was built around Maqasid Syariah principles, particularly the preservation of life and health through more structured planning against the rising cost of treatment.
Fair questions to ask
Are the benefits smaller? Not inherently. Benefits, annual limits and scope are built to be comparable with the conventional line. What differs is the contract structure and how the funds are managed.
Is the contribution more expensive? Not necessarily, and it cannot be answered in general terms. The comparison depends on product, age and plan. I can put both illustrations side by side so you compare real numbers rather than assumptions.
Is the underwriting surplus guaranteed? No. Distribution depends on the performance of the tabarru' fund in that period and follows the terms set out in the policy.
Do I need to be Muslim? No. Sharia products are open to anyone. Some clients choose them for the fund structure and the ethical investment restrictions rather than for religious reasons.
Compare sharia and conventional side by side
Two official illustrations, the same profile, at no cost.