TLD Whitepaper
  • Part I: What is The LifeDAO?
    • Introduction
    • Mission
    • Background
      • Islamic finance and insurance
      • Why is conventional insurance not shariah-compliant?
      • Takaful, an Islamic alternative to conventional insurance
        • Takaful vs. Conventional Insurance
        • Takaful in light of the Shariah
    • The LifeDAO: Inspired by Takaful, native to the blockchain
      • Two Funds, Two Entities
      • Risk, Solvency and the Benefit Multiplier
      • Shariah compliance of TLD
    • The Takadao Protocol
      • Takadao’s Technology Stack
      • Takadao Reprotection Pool
  • PART II: The LifeDAO Membership
    • Member Journey
    • The LifeDAO Membership
      • Membership Benefits
      • Membership Privileges
      • Benefit 1: Benefit Payout
      • Benefit 2: Surplus Distribution
      • Benefit 3: Governance Rights
      • Privilege 1: Verifier Incentive Program (VIP)
      • Privilege 2: Contributor Committee
      • Privilege 3: TAKA Token Airdrops
      • Allocation of Membership Contributions
      • Benefits Payout Management
      • Governance and the Contributor Committee
      • Contributor Functions
        • Screen Proposals
        • Endorse and Advocate for Proposals
        • Implement Proposals through Multisig
      • The LifeDAO Investment Pools
        • Investment Conditions
        • Deposit and Withdrawal Mechanisms
        • Governance
Powered by GitBook
On this page
  1. PART II: The LifeDAO Membership
  2. The LifeDAO Membership

Benefit 1: Benefit Payout

The LifeDAO is a mutual protection community that is an alternative to life insurance. In the event of a member’s passing, his designated beneficiaries will receive a lump sum payout based on his annual contribution, his individual risk index (B.BM) and the overall fund health index (BM.A).

Benefit payout

=

Individual Risk aka Base Benefit Multiplier (B.BM)

x

Overall Fund Health aka Benefit Multiplier Adjuster (BM.A)

x

Individual Annual Contribution

The beneficiaries are required to report the passing of the member and upload supporting documents to initiate the Payout process. The beneficiary may elect to receive a USDC or other stablecoin payment or payment in through our offramp partners.

For more details about how Benefit Payouts are calculated, please refer to the Takadao Whitepaper.

PreviousMembership PrivilegesNextBenefit 2: Surplus Distribution

Last updated 8 months ago