Insurance policies
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Dear brothers,
Is it appropriate to assume that insurance policies are permitted in Islam since there isn?t any explicit forbiddance in the Quran?
Peace!
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Peace,
I think that insurance policies would be ok if not moot when between muslims. Ex if a husband dies, the family is supposed to be taken care of by 1. the husband's assests according to his will or his division of property before death
2. if the husband left no will then the Quran takes care of it
3. if the husband had no property to dispose of then the community is supposed to be charitable and take care of the family.
If we're talking about car insurance, etc. muslims should be courteous enough to know that if you destroy property you must pay for it. If the person who damages property cannot pay, the owner of the property should be courteous enough to allow the poor time to repay him for the damage. Nonetheless, I think that your qusetion is better answered by the spirit of the Quran. These are obviously my opinions as to how things should go, so take it as you will. -
Thanks very much for your reply!
Peace,
I think that insurance policies would be ok if not moot when between muslims. Ex if a husband dies, the family is supposed to be taken care of by 1. the husband's assests according to his will or his division of property before death
2. if the husband left no will then the Quran takes care of it
3. if the husband had no property to dispose of then the community is supposed to be charitable and take care of the family.
If we're talking about car insurance, etc. muslims should be courteous enough to know that if you destroy property you must pay for it. If the person who damages property cannot pay, the owner of the property should be courteous enough to allow the poor time to repay him for the damage. Nonetheless, I think that your qusetion is better answered by the spirit of the Quran. These are obviously my opinions as to how things should go, so take it as you will. -
Salam Nasrudeenh, all,
Dear brothers,
Is it appropriate to assume that insurance policies are permitted in Islam since there isn?t any explicit forbiddance in the Quran?
Peace!
From my understanding of the Quran, the insurance and in particular the life insurance is not Quranic. Yes I agree there is no explicit forbiddnace of it in Quran but there was no insurance industry at the time of the Quran revelation either-). Understanding how insurance industry works will make you realize quickly why it does not go hand in hand with the wisdom in Quran-). In Quran, there is no speculation on the deceased assets or their forms!! My point is when something is not explicitely outlined in Quran we will have to first understand how the system works, how insurance premiums are calculated and what that means for the individuals as well as the community, then we go back to Quran and see if it does not contradict the message or the wisdom in it.
And God the All-Mighty knows best.
Peace. Myr. -
Salam Myr,
Thanks for your feedback. I don?t think insurance system contradicts to the Quranic verses. We all knew that insurance is a preventative measure aimed at tackling any expected or unexpected crisis.
We could see in the Quran that Prophet Yousef advised a king to apply a kind of preventative measure in order to tackle an expected famine in the country which was to happen in a future.
1247 He said you will plant regularly for seven years, and whatever you harvest you must leave it in its pods, except for the little that you will eat. 1248 Then will come seven after that which are severe in drought and which will consume all that you plant except for what you have stored.
I think it is allowed but I?m not sure how far I?m correct. Please comment.
Peace!
Salam Nasrudeenh, all,
Dear brothers,
Is it appropriate to assume that insurance policies are permitted in Islam since there isn?t any explicit forbiddance in the Quran?
Peace!
From my understanding of the Quran, the insurance and in particular the life insurance is not Quranic. Yes I agree there is no explicit forbiddnace of it in Quran but there was no insurance industry at the time of the Quran revelation either-). Understanding how insurance industry works will make you realize quickly why it does not go hand in hand with the wisdom in Quran-). In Quran, there is no speculation on the deceased assets or their forms!! My point is when something is not explicitely outlined in Quran we will have to first understand how the system works, how insurance premiums are calculated and what that means for the individuals as well as the community, then we go back to Quran and see if it does not contradict the message or the wisdom in it.
And God the All-Mighty knows best.
Peace. Myr.