Seminary Forbids Life Insurance
August 31st, 2006 by Jeb Foster
People have strong opinions about insurance. 
When it comes to South Asian Islamic clerics’ feelings about life insurance, that’s a bit of an understatement.
According to an Associated Press story, a prominent Islamic seminary in India has denounced the practice of buying life insurance. Clerics at the seminary say it violates Islamic law.
“Life is given by Allah and to insure it or assure it, is a crime in the eyes of Allah,” clerics at the Dar-ul-Uloom seminary told the AP.
The seminary issued its directive on Aug. 7, saying “insurance is not permissible because it is a sort of gambling. Moreover, it also involves interest money which is illegal under Shariat.” (Shariat = Islamic law).
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September 1st, 2006 at 3:20 pm
How sad! Regardless of a person’s beliefs, we all know that the purpose of insurance is simply to help provide for your family and meet the expenses you leave them with.
I don’t think leaving your loved ones in a bind is very loving–and isn’t that what Allah is all about?
It would be interesting to hear what other members of clergy have to say on this issue. Thanks for the info, Jeb!
September 28th, 2006 at 7:06 pm
Well yes insurance is exactly that, a sort of gambling. But the risk is well calculated and the pay out can really help in times of need. Especially with life insurance.
Simon, Insurance