LIFE INSURANCE, what's the deal?

[Abdinuur]

Guys,

 

What do you think about life insurance policies? Is it acceptable in Islam?

 

For example, a husbands dies, either by accidental (i.e. crash, gun shot) or by natural death. He leaves behind his wife and kids with no one to support or take care of them. If he has a life insurance, his family would be covered and will be well taken care for...all of the family debts will also be covered in the same policy. And this should give the wife a time to reorganize and priorities her life and kids together.

 

I think life insurance works in this similar fashion...but is it ok? Please share your insights and experiences with life insurance deal!

[Abdinuur]

I wanted to post this in the Islam forum section of SOL, but I thought this would a more general topic also....

[Jacaylbaro]

horta waan maqlaa uune ,, what is this insurance story ? ,,,,,

 

i thought soomaalida oo dhami inay TOL INSURANCE ku jiraan

[Nephissa]

Nin dhintay kabtiisaa ka roon baa la yiri. Why should anyone benefit from my death? Mey mey, not ready to sleep with the lights on for the next X number of years.

[LayZie G.]

^Ani dad badan aa iga noolaan doono marka teyda imaato. Monthly payment aan been been ubixiyaa for two different life insurance's, just so that special someone in my life can live comfortably after aan aduunka kabaxo.

[Nephissa]

L0L@special someone. Nasiibkaa abaay.

 

Life insurance markii maqlo waa gariiraa aniga dhan, the movie "the perfect murder" aan soo xasuustaa.

[Jacpher]

^Areey benefishariga igu qabo Xaaji Tuujiye kaniinaas ku laqsiihaa mar dhowee.

[LayZie G.]

lmao@^^, nin waalan aa tahay. Shactaroolow waaxid

[Gediid]

Abdinur

According to Islam life insurance is haram..Ilaahey baa nafta haya and the only thing guareented is death and as a result for someone to benefit from it is not allowed in Islam.I personally have turned it down when an employer offers that to me.

[Seekknowledge]

If life insurance is haraam then how about other insurance (car, health, travel etc)?

[Aaliyyah]

I found this question asked in a islamic site...

 

Is it permissible to take out life insurance so as to ensure that my family are provided for after I die? Please supply the evidence (daleel) for your response.

 

Praise be to Allaah.

 

Shaykh Ibn Baaz (may Allaah have mercy o­n him) was asked about life insurance, and he said:

 

Insurance of o­ne’s life or possessions is haraam and is not permitted, because it involves gharar (buying/selling something where it is not known whether what is being bought/sold will actually be achieved/delivered, or in what specific quantity, thus putting o­ne’s money at undue risk to being lost) and riba (usury, interest). Allaah has forbidden all transactions that are based o­n riba, and all transactions which involve deceit, as a mercy to this ummah, and to protect them from that which may harm them. Allaah says (interpretation of the meaning):

 

“whereas Allaah has permitted trading and forbidden Ribaa”[al-Baqarah 2:275]

 

And it was narrated in a saheeh report that the Prophet (peace and blessings of Allaah be upon him) forbade deceit. And Allaah is the source of strength.

insha allah this would answer your question Abdi nuur.

[Naxar Nugaaleed]

LOL @ "Mey mey, not ready to sleep with the lights on for the next X number of years."

Just don't let your loved ones know! have a lawyer deliver along with your will.

 

AAliya, i don't see the realtion between interest and insurgence and you do know that you will eventually die (achieved) and the "quantity" depends , like everything else, how much you want to buy.

[Aaliyyah]

Life insurance is interest itself; you are being charged to pay monthly fees, so you can get certain amount of money when you die. Even though you don’t know if you or your loved ones will actually take advantage of it.

 

 

and you do know that you will eventually die (achieved)

You will eventually die in your time ofcourse, but perhaps those you care about will die before you. Or, perhaps after certain time you won’t be able to pay for the insurance fees due to financial hardships, there is so many possibilities, no one knows about the future. So you are wasting your money in a way, it is like buying a car, even though your family might not use it.

 

 

but then this is based on my understanding, I posted a shiekh's answer, I will look into it farther.

 

and not to mention that life insurance is like lottery you are paying a small amount and hoping one day to get a huge amount...(like buying 10 dollar lottery and hoping to win millions)..who says you deserve that money? You didn't work for it?

[Seekknowledge]

How about car insurance (if you ever have an accident.....) or health insurance (if you ever get sick.....)

Man what is wrong with these Saudi Sheikhs they always give unrelated answers like interest with life insurance like doctors always get a second opinion. OH OH now I am going to get attacked by all SS. I apologize in advance.

[Abdinuur]

It's really confusing, and I dont know who to believe...I dont even know if there are verses about life insurance in the Quran...there definitely many verses about Riba, but I dont know about life insurances...

 

...and speaking if Riba...

 

...if you are a grocery store owner and you buy your fruits/vegetables etc for few cents and you of course resell it for few bucks...wouldnt that be considered Riba? What do you call that?...cuz if you literally define Riba, this scenerio/hypothetical would fall under that!

 

...I could go on and on about the stuff I observe and think about from day-to-day, but I dont wanna confuse anyone more than I....