Question:
Assalamu Alaykum wa rahmatullah wa barakatuh Ya Mawlana Sh. Hisham,
My husband and I currently have life insurance (20-year term) and critical illness insurance. When we subscribed for these a little while back, it didn’t occur to us that maybe this is not permissible in Islam. We are now starting to wonder. Could you please enlighten us?
Also, what about retirement plans (e.g. 401k). Are we allowed to contribute to these for our retirement?
Thank you for your help. May Allah bless your work and give Mawlana Sh. Nazim long life and health.
Answer:
wa `alaykum salam,
This is how the system works here, don’t worry.
Shaykh Muhammad Hisham Kabbani
