Darul Iftaa Mahmudiyyah

Can we get insured us by taking life insurance policy?

Published as 1: Can we get insured us by taking life insurance policy?2: we rarely find intrest free banking ,the salary that a banker draws from his job is hallal?

· 26 Rabiʻ II 1424 AH1 min readFatwa 8983English

Question

I have questions : 1: Can we get insured us by taking life insurance policy? 2: we rarely find intrest free banking ,the salary that a banker draws from his job is hallal? 3:a person working in insurance company as a supervisor of insurance agents,his salary is hallal , 4:what is the difference between private insurance and commercial insurance? 5 : can I

Answer

1. It is not permissible to take out a life insurance policy.

2. It is not permissible to work in an interest bearing institute as that will be aiding in sin. If the major source of the bank is Haraam, for example, interest, etc. then the wages will also be Haraam. If the major source of income is not Haraam, then the wages will be Makrooh. The ruling can also change due to an individual?s circumstances which must be referred to a reliable Mufti for a Shar?ee ruling.

3. If the sole major source of the insurance campany?s income is through the insurance premiums, then the salary will not be Halaal.

4. If any insurance is private or commercial follow the principles of conventional insurance schemes, it will not be permissible.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/8983
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