Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : life insurance and educational insurance

Fatawa Question

Assalamu Alaikum Wa Rahmatullah Allah Wa Barakatuh !!! My question is on insurance. Would you please advise if insurance is acceptable ? We have currently life insurances as well as educational Insurance for our daughter. Additional to that, we have gone under a pension plan scheme which is compulsory through our offices and I am participating in the stock purchase scheme within the company from long time back. I am working in an oil related company. I'd also appreciate if you can advise as what would be the most appropriate way to invest your money in the Islamic way I'd appreciate if you can let me know on all the above points step by step through my e-mail address. Notes I'd prefer that my name and e-mail address is not published on the web.

Fatwa

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Publication Date

2002-02-27

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Education
• Investments
• Insurance
• Money
• Life insurance
• Transactions

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-724393

• APA
• MLA
• AMA