Cancelling an insurance policy

Answered according to Hanafi Fiqh by

Q: I did an insurance policy in 2014 for 10 yrs, every year I need to pay a premium of 35k. Last year I got to know that it is haram and I wanted to get myself out of that. But If I opt out now, I will loose 80% of my money. Will I be getting sin for continuing that policy. Should I just stop paying the premium. What should be my approach in this matter.


A: The best is to stop paying the premium.

And Allah Ta’ala (الله تعالى) knows best.


Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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