Answered by: Maulana Irfan Ali
If an insurance company sponsors college education, will it be permissible to take?
In The Name Of Allah, The Most-Merciful, The Most Kind
Islamic law is explicitly clear with regards to anything based around interest. Allah in the Quran mentions regarding interest:
‘Allah has permitted transactions and has prohibited from interest.’ 
‘In another place in the Quran Allah mentions that He and His messenger will be at war with the consumer of interest.’ 
Therefore, dealing with interest money, directly or indirectly, in any shape or form will be unlawful.
Only Allah knows best
Written by Maulana Irfan Ali
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham