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

Can a person have a DEFERRED ANNUITY?

Answered by DarulUloomTT.net

Assalam-O-Alaikum, I would like to know if a deferred annuity is halal to have. Looking forward to your speedy reply. Wa Alaikum Assalaam, الجواب و بالله التوفيق A Deferred Annuity is not halal to have. This ‘Annuity’ is bought from an insurance company where you are required to pay premiums over a period of time. Over an accumulation… read more »

Can a person take medical insurance?

Answered by DarulUloomTT.net

Asalamualaikum. I have a question. Is personal medical insurance haram? I have always had medical insurances with my employers in the past which I benefited from reduced cost for medical services for my family and myself. I no longer have an insurance plan from an employer and was considering getting one on my own. Can… read more »

Are Tax Saving Incentive Plans permissible?

Answered by DarulUloomTT.net

Assalaamu Alaikum Mufti Sahib, I’m in need of financial advice…in regards to those Tax Saving Incentive Plans (TSIP) whereby one can reclaim on one’s annual income tax, are there any halal ones available? If so, can you direct me to one? Also, even if there’s no halal ones available, is it permissible to partake in a… read more »

Working In A Motor Vehicle Claims Department

Answered by DarulUloomTT.net

Question: Assalamu Alaikum, Will it be permissible for one to work in the Motor Vehicle Claims Department on an Insurance company? Answer: As Salaamu Alaikum, The motor vehicle claims department is a department of the insurance company itself. Therefore one who works in this department is actually working for, and is employed by the Insurance… read more »

Insurance Claims on job.

Answered by DarulUloomTT.net

Question: I am a Muslim adult and a software engineer in profession. I am working for a hospital which is in the USA and which produces many Insurance Claims. If I am not part of those claims but somehow I may be populated with it, (I don’t have any direct concern with documentation and the… read more »

Insurance scheme

Answered by DarulUloomTT.net

Question: As salaamu alaikum, Respected Mufti Waseem I have a question with regards to health insurance. My husband has a policy from an insurance company for which his company pays half and the other half comes out of his salary every month, he also wants me to join at no extra cost to him and… read more »

Fatwa against Insurance.

Answered by DarulUloomTT.net

Question: I require a reference of any written fatwa against insurance and why is there any reliable Hadeeth in this order. Answer: In response to our inquiry about written fatawas regarding insurance, we produce the following: In a fatawa issued by Shaikh Abdullah Bin Baaz and documented in the book Fatawa Islamiyah Vol. 5 pg…. read more »

Working as an actuary

Answered by DarulUloomTT.net

Question  I am considering studying Actuarial Science in Waterloo, Canada. I would like to know if it is Haram to work as an actuary in an insurance company. Furthermore, if it is haraam to work in an insurance company, why? Also then, is it haraam to work in a non-insurance company as an actuary? For… read more »

Beneficiary on a life insurance policy

Answered by DarulUloomTT.net

Question Is being the beneficiary on a life insurance policy haram and what about if you take the capital and give away the interest?   Answer First of all, becoming involved/taking out a life insurance policy is not permissible. However, if one was taken out in the past, and a person becomes a beneficiary, then… read more »

Interest and Insurance

Answered by Darulifta-Deoband.com

I am a state govt employee of Odisha. Can I use interest money received from L.I.C ,India in lieu of Annual Income Tax which is directly deducted from my salary in the month of February every year? (So it will be assumed that the interest money received from L.I.C is being used for payment of… read more »