Question: Is it permissible to have insurance for a house, car, medical, etc., where we pay a fixed amount every month and they compensate us for any loss?
Answer: Any type of commercial insurance, whether it is for a house, car, medical, or any other type, is not permissible. All forms of commercial insurance are based on interest (riba), gambling (maysir), deception, and fraud. Just looking at one aspect of it reveals its prohibition. Insurance is a type of trade, and it is an uncertain trade, while Islam prohibits trading in uncertain things. Abu Huraira (may Allah be pleased with him) reported that the Prophet (peace be upon him) forbade the sale of uncertainty (gharar) and pebble sales (bay’ al-hasat) (Sunan Ibn Majah: 2194). Therefore, it is not permissible for a Muslim to take out any type of insurance without a valid reason.
Sheikh Maqbool Ahmed Salafi Jeddah Dawah Center, Hayy Al-Salamah – Saudi Arabia
Explore the profound descriptions of Jannah (Paradise) and Jahannam (Hell) in Islam, drawn from the Quran and authentic Hadith. Discover… Read More
Explore key pre-marital questions and discussions rooted in Islamic principles to ensure compatibility, shared faith, and a blessed Nikah. From… Read More
Discover the timeless principles of marriage, parenting, kinship, and home life in Islam, drawn from the Quran and authentic Hadith.… Read More
Explore how Islam views women's health as a sacred trust, covering menstruation, pregnancy, mental well-being, and more through Quranic verses… Read More
Explore the major sins (al-Kaba'ir) in Islam, including the seven destructive sins from authentic Hadith. Learn their Quranic warnings, consequences,… Read More
In Islam, family is the cornerstone of society, offering tranquility, love, and mercy as per Quran 30:21. Explore honoring parents,… Read More