What is the ruling on life insurance?
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Question:
The questioner asks: What is the ruling on life insurance, and what is the ruling on taking it and benefiting from it?
Answer:
Insurance is forbidden in all its forms, whether for lives, goods, or cars. Commercial insurance is forbidden in all its forms because it is consuming people's money unjustly, and because of the gambling in it, the riba (usury or interest) in it, the ignorance and gharar (excessive uncertainty in a contract) in it, and the many harms in it. It is not permissible for a Muslim to take out these insurances; he is in no need of them, praise be to Allah, so he should leave them and is not in need of them. If something happens to him, he bears it from his own wealth and does not burden people with it. He does not impose his liability on people and consume their money unjustly. He bears his own liability if a liability falls upon him. Yes.
The questioner asks: What is the ruling on life insurance, and what is the ruling on taking it and benefiting from it?
Answer:
Insurance is forbidden in all its forms, whether for lives, goods, or cars. Commercial insurance is forbidden in all its forms because it is consuming people's money unjustly, and because of the gambling in it, the riba (usury or interest) in it, the ignorance and gharar (excessive uncertainty in a contract) in it, and the many harms in it. It is not permissible for a Muslim to take out these insurances; he is in no need of them, praise be to Allah, so he should leave them and is not in need of them. If something happens to him, he bears it from his own wealth and does not burden people with it. He does not impose his liability on people and consume their money unjustly. He bears his own liability if a liability falls upon him. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم التأمين على الأرواح؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.