Question:
IS it ok for a muslim to purchase life insurance for him self or his family.
Answer:
As-Salamu `Alaykum, The absolute majority of the scholars are of the opinion that ‘life-insurance’ is impermissible in Islam because unlike other calamities and eventualities which may or may not effect man, death is one thing that is decreed for everyone. The scholars and jurists in Islam are of the opinion that non-life insurance policies are permissible, provided one transacts and documents such policies which honor the principles of Shariah. And Allah Alone Knows Best. Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone.
Imam Senad Agic, Ph.D.
Head Imam (IABNA)
The Islamic Association of Bosniaks in North America
