insurance

What is the ruling on purchasing full (comprehensive) insurance in Islam?

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QuestionWhat is the ruling on purchasing full (comprehensive) insurance in Islam? AnswerAlhamdulillah, wassalatu wassalamu ‘ala rasoolillah, wa ‘ala alihi wa sahbihi ajma‘in. Insurance is a modern financial product that did not exist in classical fiqh, so the scholars have had to analyze it according to the principles of Shariah. Full or “comprehensive” insurance covers not … Read more

Can I have disability or life insurance?

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Can I have disability or  life insurance? Question: Are Muslims allowed to have disability or term life insurance in non-Muslim countries like Canada, where there are no well-recognized alternatives like takaful, and families might suffer without such support? Short Answer: No, it is not allowed to take life insurance—including term life insurance—according to the consensus … Read more