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Forums Forums Islamic Sharia Is Insurance Interest Permissible?

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  • Is Insurance Interest Permissible?

    Posted by Saiyed juned Alimiya on August 11, 2021 at 3:30 pm

    Insurance ke pepar me ye likha hota he ke your benefit according to 4℅ to 8℅ interest inke likhne se haram ho jayega, ye log bhi har izaafe ko interes samjte he jese ke hamare classical olma. Koi bhi insurance company ward change nahi karegi, agent hazrat kehte he company interest samjati he aap log profit samj lo to kya insurance karvate??????

    Saiyed juned Alimiya replied 3 years, 3 months ago 2 Members · 6 Replies
  • 6 Replies
  • Is Insurance Interest Permissible?

  • Faisal Haroon

    Moderator August 11, 2021 at 7:33 pm

    I’m not sure what kind of insurance you’re referring to. There’s no ‘profit’ in insurance, and I don’t recall any wording with interest in the contract either.

  • Saiyed juned Alimiya

    Member August 11, 2021 at 11:45 pm

    It is a child plan icici prudential India policy statement ” This benefit illustration is intended to show year premiums payable and benefits under the policy, at two assumed rates of interest I, e. 8℅p.a and 4℅p.a” Kya policy le sakte he?

  • Faisal Haroon

    Moderator August 12, 2021 at 12:02 am

    Yes, in principle insurance is permissible.

  • Saiyed juned Alimiya

    Member August 12, 2021 at 12:13 am

    Term insurance to lehi sakte he usme 12year tak 1lakh rs premium hota he policy issue hone ke baad risk cover suru ho jata he mean 50 lakh ka me lene chahta hu to kya le sakta hu

  • Faisal Haroon

    Moderator August 12, 2021 at 4:40 am

    As I stated above, in principle insurance is halal.

  • Saiyed juned Alimiya

    Member August 12, 2021 at 4:57 am

    JJazakomullah khair

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