Please give me guidance about ” Is it halaal to take a policy in LIC ? ” according to Shariya in Islam. Please give the reference of Quran and Hadith.
Answer
(Fatwa: 565/565/M=1431)
LIC policy is unlawful due to being based on interest and gambling.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband