The Ruling on Commercial Life Insurance
Machine translationRead the Arabic original
Question:
The questioner says: Shaykh, what about life insurance in the case where the company pays it in full?
Answer:
Commercial insurance is not permissible because it is consuming wealth unjustly. This is a matter that is not permissible, and it is consuming the wealth of people unjustly. One pays a small amount and takes from the company’s funds a large amount, more than what he paid. This is the wealth of others and the partners, so he consumes it without right. This is not permissible. Yes.
The questioner says: Shaykh, what about life insurance in the case where the company pays it in full?
Answer:
Commercial insurance is not permissible because it is consuming wealth unjustly. This is a matter that is not permissible, and it is consuming the wealth of people unjustly. One pays a small amount and takes from the company’s funds a large amount, more than what he paid. This is the wealth of others and the partners, so he consumes it without right. This is not permissible. Yes.
Source
نور على الدرب - الفوزان - 03/061 — archive.org (7:43)
The Arabic text is a machine transcription of the audio recording.