A bequest concerning the sum received through insurance

Question

Question: The February issue of “Al-Furqan”, Lucknow, supported the permissibility of life insurance under special circumstances and conditions. Kindly write whether one should take out life insurance under the following prevailing conditions or not. My salary is sufficient, but nothing is saved. My employment is such that no pension will be given, only some fund. I want some money to be kept in reserve so that at the end of my employment it will be of use to me.

Answer

In the case asked about, although your aim is not to obtain interest and benefit from it, but merely to save something for after you, and you intend to make a bequest that the amount obtained in the form of interest be spent, nevertheless the sum you deposit will be put back into interest-based business — this is assisting it, and there is no way to avoid this.

Source: Fatawa Mahmudiyya

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