Transactions & Dealings >> Interest & Insurance
Question ID: 8745Country: India
Answer ID: 8745Posted on: Sep 1, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 2145/1732=B/1429)
The LIC policy is composed of interest and gambling i.e. these two things are found therein, which have been declared haram (forbidden) by the Quran and Hadith. Therefore, it is unlawful to take the policy. Working as LIC agent is helping in sin which is also not lawful.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India