Darul Iftaa Mahmudiyyah

My late father had left behind life insurance policies which had been distributed in his estate along with letters to all beneficiaries stating what the capital and interest portions

· 23 Shawwal 1429 AH1 min readFatwa 17226English

Question

I would like to give a smal background first and then follow it with the question

My late father had left behind life insurance policies which had been distributed in his estate along with letters to all beneficiaries stating what the capital and interest portions were as the beneficiaries felt they themselves wanted to decide how they would want to spend it.

Of my share i have made a decision to keep only the capital portion and give away the interest portion but i now require a loan and would not like to approach the banks so my question is that if the other two beneficiaries decided to keep their monies would it be permissable for me to take a loan from them and pay them back in three years time

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

The surplus money besides the capital contribution towards the insurance policy is haram and should be disposed off to the poor and needy. It is not permissible for the beneficiaries to keep the surplus money if they are not poor and needy. If the beneficiaries offer you a loan, it will be regarded from their legitimate wealth.

And Allah Ta'ala Knows Best

Wassalam

Mufti Ebrahim Desai
Darul Iftaa

Answered by
Mufti Ebrahim Desai
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/17226
Fatawa SA: https://fatawa.co.za/fatwa/askimam-17226

People also ask

Is a pension or insurance payout part of the estate?

“In terms of Shariah, accepting the nomination and appointment of executorship is subject to the approval of a person being nominated as an executor of an estate.”

Jamiat KZN · 26 fatawa from 7 Darul Iftas on this

What the Darul Iftas say

Related fatawa