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Is Life Insurance Permissible?

Answered according to Hanafi Fiqh by Seekersguidance.org
Question:
Is life insurance permissible?
Answer:
Dear questioner,
May Allah, Most High reward you for your desire to increase in knowledge.
Purchasing conventional life insurance is impermissible in Islam, regardless of one’s intentions.
Life insurance is impermissible due to the fact that the policies contain various forms of interest, uncertainty, and gambling. All three of these are forbidden by the sacred law.
Allah, Most High says:
“O believers! Intoxicants, gambling, idols, and drawing lots for decisions are all evil of Satan’s handiwork. So shun them so you may be successful.” [Qur’an, 5:90]
“O believers! Do not consume interest, multiplying it many times over. And be mindful of Allah, so you may prosper.” [Qur’an, 3:130]
And Allah knows best,
[Ustadh] Omar Popal

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