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IslamQA: Is life insurance permissible in Islam?

Is getting life insurance permissible?

If the insurance is provided by a for-profit company then it is prohibited, because they are making money through a procedure that amounts of gambling/betting. But if the insurance is provided by a non-profit where people’s money is pooled to support members who die, then that is permitted provided that the company’s methods have been reviewed and approved by scholars.

And God knows best.

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