Is a financial transaction, which stipulates the payment of monthly installments to an institution, and the institution pays an immediate sum to one of the heirs upon the death of the subscriber, then the total installments are divided equally between the institution and the heirs of the deceased, with deprivation for whoever violates the conditions, permissible on the basis that it is a form of cooperative insurance and donations, or impermissible due to its inclusion of gambling, usury, and unlawful stratagems?

Cooperative insurance is permissible in Islamic law because it is based on donation and mutual assistance in alleviating burdens. It is an application of the Almighty's saying: "And cooperate in righteousness and piety." As for commercial insurance, it is forbidden because it is based on gambling, gharar (excessive uncertainty), and riba (usury).

Cooperative insurance has conditions and regulations, including: the insuring company must not violate Islamic Sharia in its contracts and dealings, the contracts must be based on donation, and the surplus insurance funds must be distributed among the participants.

Islamic takaful insurance, on the other hand, is based on cooperation and affection. Its subscriptions are invested through Sharia-compliant methods, and the subscription value is divided into two parts: takaful (mutual guarantee) and savings. Investment returns are distributed according to the Islamic mudarabah (profit-sharing) model. The relationship between the parties is one of cooperative participation, and savings amounts are not deducted upon withdrawal. Reinsurance is Islamic, and its conditions are free from any Sharia prohibitions.

As for commercial insurance, it is not based on cooperation, and its premiums are invested in commercial, interest-based banks. The value of the premium and savings are merged, and investment returns are guaranteed at a fixed interest rate. The relationship between the parties is that of an insurer and an insured. In case of withdrawal, the insured may not receive any of the premiums back, and reinsurance is with commercial companies. Its conditions are not free from Sharia prohibitions.

To rule on the permissibility or prohibition of a specific insurance, the Islamic institution must adhere to the conditions and regulations mentioned above.