Introduction

Welcome to The LifeDAO (TLD), a community where members pool their resources together to protect one another from unexpected tragedies. The LifeDAO is an alternative to traditional life insurance, which pits the insurance company against its customers. The LifeDAO is inspired by the concept of Islamic insurance, Takaful, and is shariah-compliant.

Like traditional insurance, The LifeDAO provides a lump sum payout to beneficiaries in case of a member's passing. That’s where the similarities end. Unlike traditional life insurance, TLD is owned by its members, who have governance rights through TLD Membership Credits that they receive in exchange for payment of their annual membership contributions. These Credits give members voting power and a share of any surplus TLD generates.

TLD operates on the Takadao protocol which includes a patented underwriting and risk management algorithm and a decentralized claims management process, all run on publicly auditable smart contracts.