Is it permissible to subscribe to a bank retirement plan that grants a sum to heirs upon death or to the subscriber upon reaching sixty years of age, and is this considered prohibited life insurance?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Life insurance contracts are Islamically forbidden due to their inclusion of (excessive uncertainty), speculation, and riba (usury). Several fatwas prohibiting it have been issued by various Fiqh academies, and therefore, it is not permissible to enter into such contracts.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/80093
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 80093
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy