• Transactions & Dealings >> Interest & Insurance

    Question ID: 44519Country: India

    Title: Insurance

    Question: I am a Govt. employee of J&K state. The Govt. annually collects taxes through our salary and for saving the taxes I have opted for life insurance investment. Now the question is that is this allowed in Shariah if not tell the right solution, further where we can spend the bonus of the policies given by company at maturity time.

    Answer ID: 44519

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 523/416/B=1434) (1) One can get life insurance in order to save one’s hard earned income from tax, but it shall be necessary to give the amount received more than capital amount in charity. (2) What types of bonus it is, explain it.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India