Life insurance is good or bad according to Islam

 

There are different opinions and guidelines about life insurance in Islam. Debates and discussions about this have been going on for a long time. Some Muslim scholars feel that life insurance is a commercial product that does not match Muslim religious ideals of timing for death. Life insurance seems to be bad among them, because it is not a consistent part of Muslim society, and some institutions prefer to accept their own responsibilities with a belief in death experience or empathy. 

On the other hand, many Muslim individuals feel that having life insurance can be valuable, since it ensures the safety and security of the family and helps provide financial support after death. Also, some Muslim schools and institutes offer life insurance to cover their activities. 

There is a general consensus among intellectuals that life insurance should be used to provide support for financial complications after death. In this, many Muslim individuals agree to provide necessary protection without overstepping any Islamic norms. 

On the whole, Islamic discussions and theories on this subject can vary, and it depends on the individual's own views, behavior and religious beliefs. Other religious counseling is very important in making the right decision for each individual.

What does life insurance mean?

Life insurance is an insurance product that protects people against various natural or man-made risks and contingencies in their lives. For example, if a person buys life insurance, in case of his death his family or designated respondent can receive a certain amount of money after his death. Life insurance provides security and financial protection to the beneficiaries against death, disability, illness or other risks.

A person signs a contract with a life insurance company to pay premiums every month, and upon their death or other event, the company pays them out to a designated successor or heir. This payment may be against death, disability, life sickness, wrongful death or other time institution specific events.