Title: Can you plz let me know that is it jayaz ( allowed /reasonable) in islam make the LIC policy or any other policy in which a policy provider says that you submit this much amount of installment and in case of your sudden demise , the nominee will get a very much hafty amout like of 15 laks or 25 lakhs ,Or your money will be doubled.

Question: Can you plz let me know that is it jayaz ( allowed /reasonable) in islam make the LIC policy or any other policy in which a policy provider says that you submit this much amount of installment and in case of your sudden demise , the nominee will get a very much hafty amout like of 15 laks or 25 lakhs ,Or your money will be doubled.

Answer ID: 1744Posted on: Aug 31, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 593/586=D)

LIC policy consists of interest and gambling and these two things have been categorically disallowed in Quran; therefore it is impermissible to take the policy and accept the additional amount.