Accepting insurance proceeds : interest component of proceeds of life insurance-continue

Fatawa Question

Thank you again for your most gracious and timely response to my question. If I may bother you yet again to just clarify some of the points you made. You stated that insurance that is not interest based is acceptable for Muslims. You also made a point that since my father was a non-Muslim he was not required to follow the rulings of Shari'ah. In addition you made it clear that life insurance is not exactly (according to Shari’ah) an inheritance. Therefore, I ascertain that you would call the amount left to me a gift. I understand that gifts can be accepted from non-Muslims. However, if the insurance is interest-based... Am I only entitled to the portion of the gift that was not part of that interest or am I entitled to the entire amount regardless of its interest. This is the part I am unclear about. I understand that life insurance is not an inheritance now and I greatly appreciate your time and effort. I just want to be certain that since it is a gift I needn't worry about the specifics of where it came from . Jazakallahu khair, Samantha

Fatwa

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Publication Date

2003-03-16

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Insurance
• Life insurance
• Insurance companies
• Insurance policies
• Charities
• Premiums

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-724497

• APA
• MLA
• AMA