Working in insurance and actuary and insurance agents : selling insurance policies

Fatawa Question

[Question One] : A friend of mine asks whether or not he can sell life, health and annuities insurance products for a traded insurance company. [Question Two] : Assalamo Alaykum : At the outset, I want to thank you for getting back to us in a reasonable time. Second, that person is going to sell accident and health products which are okay as we understood. But he is also going to sell life insurance. He does not know if these sales involve interest-based notion or not. This is an area he is asking about. Can he go ahead with life insurance products sales regardless without asking about their base or no ? Another thing, heard about the permissibility of buying life insurance with the intention of treating it as an investment. At the end of specific term, you can or the heirs take the policy $ figure back. Is this applicable ? Thank you !

Fatwa

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Publication Date

2007-06-28

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-785426

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