• Prayers & Duties >> Zakat & Charity

    Question ID: 41416Country: India

    Title: Zakah on LIC policy.

    Question: Zaid bought a LIC policy for 20 years and pays Rs.1523/- per month as premium and till now he has deposited total Rs.106266/- as premium. Zaid wants to know is there any zakah wajib on him for the same?

    Answer ID: 41416

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1689/1326/B=1433) Yes, Zaid will have to pay the zakah on his deposited capital amount.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India