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Is life insurance allowed in islam?

Answered as per Hanafi Fiqh by Darulifta Deoband Waqf
Is life insurance allow in islam?


Ref. No. 41/950

In the name of Allah the most Gracious the most Merciful

The answer to your question is as follows:

Interest and all interest based dealings are strongly forbidden in Islam. The Qur’an and Ahadith are very clear on the prohibition of interest. The Holy Quran says that those who return to dealing in interest are the companions of the Fire and that they will face a painful punishment in the Hereafter. The Hadith says that the receiver and the payer of interest, the one who records it and the two witnesses to the transaction are all alike in guilt. It means involving in such a transaction in any way is prohibited for a Muslim.

Thus buying Life Insurance policy which comprises of interest and gambling is not allowed in Islam. However, if it is extremely necessary or legally required, then it maybe allowed with some conditions. So before proceeding ahead, one must consult the Ulama with full details.

And Allah knows best

Darul Ifta

Darul Uloom Waqf Deoband

This answer was collected from the official website of Darul Uloom Deoband Waqf. The institution is based in India and the answers are provided in accordance to the Hanafi Fiqh.

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