I am a convert about 1 year now. I would like to find out, if it is wrong to open a saving/ life insurance with Sagicor. For example an agent was telling me for example if I invest $100,000.00 with them, by the next 25 years I could possibly have $300,000.00. Is this haram?
Wa Alaikum As Salaam,
Opening a life insurance policy with Sagicor or any other insurance company is not permissible since life insurance itself is not permissible in Islam.
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.