State Life Insurance Pakistan: I have a question about life insurance, An agent approached me about it. It is a government institution. Also they only invest in real estate and not in any haram business. Also if the company’s investments go into a loss then that will affect our maturity payout. I have some extra money and it seems a good saving oportunity. But i don’t wanna ruin my akhira so please advise.
State Life Insurance Pakistan: I have a question about life insurance, An agent approached me about it. It is a government institution. Also they only invest in real estate and not in any haram business. Also if the company’s investments go into a loss then that will affect our maturity payout. I have some extra money and it seems a good saving oportunity. But i don’t wanna ruin my akhira so please advise.
18Dec
ANSWER:
This is absolutely prohibited.
Life insurance, Medical insurance or any kind of insurance is haram if taken by your own self because it involves two major sins: gambling and riba.
If the insurance is compulsory by the government or if your company is offering it to you then there’s no problem in utilizing it as the sin is not on you.
State Life Insurance Pakistan: I have a question about life insurance, An agent approached me about it. It is a government institution. Also they only invest in real estate and not in any haram business. Also if the company’s investments go into a loss then that will affect our maturity payout. I have some extra money and it seems a good saving oportunity. But i don’t wanna ruin my akhira so please advise.