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Is LIC insurance halal for orphans and can I name my child “Musa”?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Dear Sir, Assalamualaikum, I did not yet received any reply on my question ID 22618 / 22982 / 23477 (question is as below) Pls inform that if I make a insurance through LIC. and I want to back only my deposited money. Rest I will give to poor/needy person without any intension of reward. But if there any scheme that after my death my nominies (after my death they will be offcourse orphan and needy) will get some money (this will not be my deposited money, this will be only under a scheme after my death). Pls inform if that money will be halal for them or not. Pls also inform one more thing that can I give the name “Musa” to my child. Is this ok ? Pls reply as soon as possible.


(Fatwa: 1031/842/D=1431)

(1) It is wajib to give that extra amount in charity which one gets except the capital amount deposited in LIC. Whatever you wrote is right. 
We can write the ruling of the amount received under the scheme if you explain the scheme in detail i.e. how you participated in the scheme that your heirs will get the amount.
(2) It is correct to name the son Musa, rather it is very good. It is the name of a great prophet (عليه السلام).

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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