Insurance ..Halal or Haram??!!

Edited by semar - 04 April 2010 at 11:51pm

Salams haris,

I guess I would say that life in general is a game of chance. People gamble daily with their life...who to marry, what employment to take, where to live etc etc.

Insurance should be seen as sometimes necessary, sometimes to be avoided. As mentioned previously, house insurance, car insurance and so on, are necessary legalities. Life insurance, here in UK at least, is optional.

So, what should we do about life insurance? When asian women marry they have a dowry of gold and nikah, right? ( Well, most do I guess)FOr them this is a form or insurance isn;t it? If the marriage goes wrong then hopefully they have some financial settlement to fall back on. True, the monetary value does not increase, but the amount agreed upon for marriage can be much higher than a life insurance policy. (Also, their wedding gold can be used in time of financial hardship..but that's a different matter)

So, in societies where there are seldom prenuptial agreements, ie western society, people have life insurance instead.

For muslims then, I think, depending on circumstances, a person needs to make his/her choice on how to handle it.
If life insurance is to protect the family after a death, and provided the premiums do not bring financial hardship , then I guess I would take out a policy.
Maybe if the Prophet(pbuh) were here he would tell us exactly what to do. Times change don't they. :)

Apologies for not having read the above posts in great depth. Maybe I am only repeating some things here

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Peace!

Edited by haris30432 - 07 April 2010 at 4:44am