Insurance of a House
Question :

Is insurance on a house or any property allowed?

Answer :

It is permissible if it is based on an agreement that the insurance policy holder pays a particular amount of money in exchange for the insurer to pay for loss and damage as stipulated in the contract.

Life Insurance
Question :

Is life insurance allowed in Islam?

Answer :

Yes, it is permissible.

Making Life Insurance as Dower
Question :

Is it allowed to have a life insurance as the dower (mahr)? It requires monthly payments and results in a cash pay-out in case of death.

Answer :

If one makes his wife the beneficiary on his life insurance policy then it is not valid to consider the paid amount after his death as dower. It is considered as a will.

Life Insurance
Question :

The monthly expense for a Whole Life Insurance Policy for every applicant covers two things: life coverage and the cash value. The life coverage is the protection that is offered to their families when they die. The cash value is the savings account to which interest is added yearly. It may be available for the client to withdraw or borrow in case of an emergency and so long as the policy is in place, the cash value never stops. Is it allowed for me, as the agent or middleman, to close a deal with a non-Muslim for such a policy?

Answer :

If the insurance company is owned by non-Muslims such deal is permissible. Your work as a mediator in closing the deal is also permissible.