What is the ruling on life insurance for a specific sum of money to be received upon death or the end of the insurance period, and what should I do if I am involved in a forbidden insurance policy, given that canceling it before three years would result in a significant loss?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Insurance is of two types: commercial, which is impermissible (), and cooperative (takaful), which is permissible (). If the insurance you have entered into is impermissible, then the contract must be annulled if possible without incurring harm. Losing the agreed-upon insurance amount is not a loss, as it is not your property. However, the loss of paid premiums does not necessitate annulment; rather, you should wait for the contract to expire. Any surplus should be spent on general public welfare for Muslims, and it is recommended to make a will to that effect.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/86047
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 86047
- 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