What is the Sharia ruling regarding life insurance?

Insurance is a contract between two parties, in which the insurer undertakes to pay a sum to the insured upon the occurrence of an accident, in exchange for a premium. Researchers have differed on the ruling regarding life insurance, falling into two opinions: absolute prohibition and permissibility. The preponderant view is that of prohibition. This preference is based on several reasons: its inclusion of gharar (excessive uncertainty), which is a risk prohibited by Islamic law; its inclusion of a type of jahalah (ignorance/ambiguity); and its inclusion of a type of forbidden gambling.