Accepting insurance proceeds : being a beneficiary to a Riba-based life insurance

Fatawa Question

Asalaam-o-Alaikum, I have a question about Life Insurance and I have gone through your previous answers on it but I'm not clear about what does the late Shaikh Mustafa al Zarka's fatwa means. This person is Christian and I am the beneficiary on his Life Insurance and I and my family are Muslims. The life insurance company has given him an option of taking half the money instead of the full amount after a certain time if he does not want to wait till the contract materializes which is his death. Now is it legal as a beneficiary to take that money and use it on my family as me and my husband both are unable to find a job and we also have 3 children. Of course we will also give some of it to charity

Fatwa

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Publication Date

2003-01-18

Main Subjects

Economics & Business Administration
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Islamic economics
• Insurance law
• Insurance
• Life insurance
• Insurance companies
• Insurance policies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-724492

• APA
• MLA
• AMA