Message: Assalamualaikum Warahmatullah Mufti Sahab!
Is making Health Insurance is allowed in Islamic Shariah? Such that we are going to deposit on daily basis some amount which we will get benefit after some years.
Wa Alaikum Assalaam,
الجواب و بالله التوفيق
Health Insurance operates in a similar manner of other insurances, where interest is present, and the possibility of claiming more than what was paid or receiving less than what was paid are present. Hence, it will not be allowed in Islam.
If a health insurance scheme is along the guidelines of the Shariah where you make deposits and afterwards receive all the monies you have paid without any increase or decrease and your claims for medical are be based on the amount of monies you have deposited, them it will be allowed.
And Allah Knows Best.
Mufti Waseem Khan.
25/2/2016.