Copyright © 2010 - Mortgage Insurance - is proudly powered by WordPress | Log in
Compositio Theme is created by: Design Disease brought to you by PremiumThemes.com
Ask about mortgage insurance information
I have a client who is Muslim and I understand the issues with earned interest. Client would like to get permanent insurance, but he was not sure about whole life being OK. The cash value does earn a return, but the company does not state a fixed interest rate. Dividends are a return of premium based on performance of the entire product (such investments, expenses and actual death claims). Another alternative is variable life, where the cash value can be put into separate accounts (similar to mutual funds) and not interest bearing. Any opinions on if whole life is acceptable for Muslims?
how much should i pay for a 2010 kawasaki ninja 250r,insuring a house with unpermitted,information you should know and becoming a financial advisory,ohio food stamps calculator,will i lose my medicaid if i get a inheritance,husbands car title transfer after death,SSDI mortgage,Will my financial aid change if I transfer school,what happen when you have a home for short sale but you have money in bank account,mortgage on 125 000
This is site about mortgage questions.
Copyright © 2010 - Mortgage Insurance - is proudly powered by WordPress | Log in
Compositio Theme is created by: Design Disease brought to you by PremiumThemes.com
9 Responses to Muslim Life Insurance – whole or variable?
God is in a good mood !
March 10th, 2010 at 2:18 pm
Go with Universal Life.
Y
March 10th, 2010 at 3:17 pm
You should constant a Muslim scholar as the whole area of Insurance is dodgy.
You can consult islamqa.com
MUSLIM 4Ever
March 10th, 2010 at 3:52 pm
You can get more answers in Ramadhan category, go to Society and Culture, then Holidays then Ramadhan.
I dont buy insurance policies at all.
TEH TYME KITTEH ~pantheist~ ®
March 10th, 2010 at 3:58 pm
Is “Death related to Jihad” covered under the plan
God B(e). Less
March 10th, 2010 at 4:16 pm
I’m not sure what is more idiotic. Having to do fiance theory somersaults as to not pay interest such as a mortgage or to cut your son’s foreskin, or to avoid eating non halal, or watching your fashion statement or washing according to a star clock or trying to figure out where a city is so you can pray in that direction, or if an astronaut, trying to figure out how to pray facing mecca as your space craft zooms around the globe. This religion is just sooo far behind, I would call it a cave man religion.
!~yazzy~!
March 10th, 2010 at 4:30 pm
I dont think life insurance is allowed in Islam because it involves gharar (buying/selling something where it is not known whether what is being bought/sold will actually be achieved/delivered, or in what specific quantity, thus putting one’s money at undue risk to being lost) and riba (usury, interest). Allaah has forbidden all transactions that are based on riba, and all transactions which involve deceit, as a mercy to this ummah, and to protect them from that which may harm them.
But they are allowed to save money in the event of sudden death.
different drummer
March 10th, 2010 at 4:51 pm
I don’t know, but term life is ALWAYS a better deal for anyone of any religion, or no religion at all. Whole life is just throwing money away.
1,927-GB
March 10th, 2010 at 5:21 pm
First, if he has no dept he needs no insurance.
Second, level term should be purchased until he has no debt.
Any other policy is throwing your money away; he would be wise to make other investments, if he wants growth, and Not with an insurance company.
Tim
March 10th, 2010 at 5:22 pm
lifeinsurance.awardspace.info – try this one. I have their insurance and, as remember, they can provide such a service.