I live in Pakistan. I have two life insurance policies. The investment in one insurance policy goes to shares market so the unit value of the policy fluctuates (there can be gain or loss as well). in the other policy investment goes in inetrest based securities. plz guide should i pay zakat on both these policies. I have prize bonds of reasonable value. Am i required to pay zakat on these. plz guide. thanks
Answer:
(Fatwa: 2019/316=B /1429)
You will have to give only the zakah of the amount invested in both polices. There is no zakah on the additional amount.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband