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Insurance – Additional Payout
Assalamualaikum
As i have understood Ghamidi sahab he says insurance is ok,but in that we get so much money that is not ours e.g i insured my house and gave some 2 million, now my house burned they gave me a new house of 50 million?
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3 Replies
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Insurance – Additional Payout
updated 3 years, 1 month ago
2 Members
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3
Replies
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There are no insurance companies that payout $50 million for $2 million insured amount. What they generally payout is the replacement cost which may include an amount for inconvenience and lost time. There’s nothing impermissible about it.
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This may be was an exaggerated example,but if even 1 rupee they give us which we haven’t deposited to them,how can that be halal?And on the other hand if for example i have insured my house and gave money, but nothing happened to house, isn’t it a waste?So in insurance the money of one person goes to the other which he hasn’t earned?
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I have insured my house and gave money, but nothing happened to house, isn’t it a waste
Not really. You insure against a potential future damage. There’s nothing impermissible about it in Islam.
the money of one person goes to the other which he hasn’t earned
The idea is that the same person will pay his share to help someone else in the future. There’s nothing impermissible about it in Islam either.
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