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: 41416Posted on: Aug 31, 2020

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

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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?

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