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Beneficiary on a life insurance policy

Answered according to Hanafi Fiqh by DarulUloomTT.net

Question

Is being the beneficiary on a life insurance policy haram and what about if you take the capital and give away the interest?


 

Answer

First of all, becoming involved/taking out a life insurance policy is not permissible. However, if one was taken out in the past, and a person becomes a beneficiary, then he will be allowed to take the capital since this is the premiums which were paid by the client, and he must give away the interest.


And Allah knows best.

Mufti Waseem Khan

This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

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