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Fixed Gurantee/Payments For Life For My Son
Assalamwalikum, My son had brain injuries while his birth because of medical negligence. Hospital is providing some amount as compensation. If I use that money as structure fixed payments for his life from life-insurance company as it called annunity. Will that consider interest/Riba? As per life insurance company they do business in bounds and treasures to make money and from that they will be able to provide us fixed/guaranteed payments for about few years even in case my son passed away. If he lves longer they will be paying until he lives. If you are not aware of structure settlement payments you can do some research and let me know if that’s halal or not?
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2 Replies
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Fixed Gurantee/Payments For Life For My Son
updated 2 months, 3 weeks ago
2 Members
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2
Replies
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It is not Riba. Riba is about loan. What You deposit there is investment. So it is halal.
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JazakAllah!
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