What is the ruling on subscribing to Metlife Alico's "Vision for Life for Your Child(ren)'s Education with Payor Benefit" program, which is based on paying monthly installments for 15 years to obtain a larger sum of money, and is this type of insurance considered Islamically permissible (halal) or does it fall under the suspicion of usury (riba), given that the company claims it is based on Islamic Murabaha?

The aforementioned transaction is forbidden, and it is not permissible to engage in it, because it is a loan with a specified usurious interest, and not a murabaha (cost-plus-profit sale) or mudarabah (definition) (profit-sharing partnership) to guarantee capital and specify the profit amount. This insurance is commercial and based on usury, so it is not permissible to engage in it except under শরী‘আ-compliant conditions.