Is it permissible to get life insurance to pay off debts in the event of death?

If the purpose of insurance is to settle a debt in case of inability to repay it until death, then this is not permissible. This is because the insurance company, in this scenario, acts as a guarantor for the debt, and it is not permissible for a guarantor to charge a fee for their guarantee. The debt can be secured for the creditors through collateral (rahn). It is important to pay attention to terminology in contemporary transactions, as it may conflict with the meanings prescribed by Islamic law.