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insurance

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

Is Life Insurance permissible in Islam?

Answered by DarulUloomTT.net

Question: Is Life Insurance permissible in Islam? Answer: Life insurance like other forms of insurance is not permissible in Islam. Insurance is a mixture of Riba (interest), gambling and risk. It is also opposed to the Islamic law of Inheritance. Whatever the insurance companies give to the policy holders under the name of bonus, returns… read more »

Use of insurance.

Answered by DarulUloomTT.net

Q. I would like some fatwah on the use of insurance please. A. Because of the fact that the entire insurance system is connected to Riba (interest), the majority of Islamic scholars have ruled against it. Hence, it will not be permissible for one to get into. However, where it is the law of a… read more »

Claims from Health Insurance.

Answered by DarulUloomTT.net

Question: I belong to a Health Insurance called UniMed. It is a compulsory plan for all teachers. A sum of $45 is automatically deducted from my monthly salary and placed in the fund. The government places this amount in the plan on your behalf also.The money is not invested from the fund. Is it permissible… read more »

Annuity and Credit Unions.

Answered by DarulUloomTT.net

Q. Are annuity and credit unions eg. TECU allowed in Islam and where are some of the places that are halaal that a muslim can put his money. Also life insurance, is it allowed? Also is it permissible to take loans from the bank or credit unions? A. The issue of annuity is that a… read more »

LIFE INSURANCE

Answered by DarulUloomTT.net

QUESTION: Assalaamu Alaikum, 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… read more »

Pension Plans and Education Funds

Answered by DarulUloomTT.net

QUESTION: Dear Mufti, Can you say if pension plans that are interest free and accident and emergency medical plans together with education plans for children to go uwi is permissible from Guardian life? ————————————————————————————- ANSWER: As Salaam Alaikum, Pension plans that are interest free is permissible. The accident and emergency medical plan is really an… read more »

Is taking Health Insurance is allowed in Islamic Shariah?

Answered by DarulUloomTT.net

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… read more »

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