What is the legal status of insurance? | types of insurance | legal or illegal issue of insurance.| insurance reviews in religion.

What is the legal status of insurance?

 The following are the detailed insurance and insurance orders:

 Insurance insurer

 The term insurance is used in English for insurance and in Arabic it is called insurance.  These three words, namely insurance, insurance, insurance, mean "assurance".

 Term definition

 The Islamic Circle of Religious Studies writes: "The name of an agreement between the insured parties in which one party (the insurance company) is responsible for paying a fixed sum in the event of an unknown loss to the other party (the insurer)."  And the other party in turn pays a fixed sum in the form of premiums until such an unknown loss occurs.

 The Islamic Circle of Islam, 14: 456, organized by the intellectual place Punjab, Lahore

 The origin of insurance

 Insurance was initiated by the Italian traders in the 1400s. This approach was adopted in the seventeenth century to help the sick in England. In the eighteenth century, traders established their associations and the trader community became the victim of an accident.  Is funded by the Joint Fund.

 However, the earliest maritime insurance history dating to England is 1547.

 Types of insurance

 The following are the most popular types.

 Life Insurance Property InsuranceApplication Insurance (such as children's education and marriage, etc.) valuable documents and credentials insurance

 Insurance procedure

 If a person wants to insure his or her life, the procedure is that the life insurance company determines that the person is physically able to survive for such a period, for example, twenty years.  After he is satisfied, an agreement is reached between the insurance company and the insured.  The insured keeps paying the insurance company precisely by dividing the sum insured into annuities.  After a fixed period, the amount is returned to him or his relatives under the terms and some additional money is also given at the fixed rate percentage along with the original amount.  This amount is named bonus.

 In the eyes of insurance scholars

 Insurance life is in principle a very useful scheme whereby a citizen can secure the economic future of himself and his children.  That's right.  In view of this aspect, the common scholars have declared it legitimate, even the Imam Ahmad Raza Khan Hanafi Qadri (may Allaah have mercy on him).

 Imam Ahmad Raza Khan, Rule of Law: 202 Shabbir Brothers

 So we justify it too.

 Recommended Insurance Criticism and Critical Review:

 The proponents insure 'give the following arguments in favor of insurance.

 In this way, the wealth of the human being is also protected and increased.  In the case of the beneficiary, the loss can be compensated. It is difficult for the poor person to deposit money in all circumstances.  In the case of an insurance policy, a small amount of money is used to support orphans and widows and help them in difficult times. It is a servant humanitarian system that aims to support the poor and needy.  So insurance is a legal and systematic form of co-operation and compensation. After the death of a human being, the backers get financed. In the case of an accident, human capital is protected.

 Reform amendments applicable to the existing insurance system:

 The insurance company should invest its capital on the principle of participation and interest. If a person does not deposit two or three installments, the balance will be refunded, however, the expenses will be deducted and the insurance boulder will pay an installment.  In case of death at any stage, according to the contract the company is obliged to pay the entire amount to the deceased heirs of the deceased as it is now. Let the insurer declare the insurance company as a shareholder and divide their capital into shares and their  The average profit of the shares of the shares should be given to them.  However, the company may appoint its own commission by designating it. The government should take over the insurance companies.

 Important Note:

 Insurance and insurance are for life or property or business, since there is no direct interest, gambling, etc., and the insurance holder does not enter into any contract with the company in which there is no law, so in our view this business is actually useful.  And the law is valid.  The issue is, where do these companies invest the Premier money?  So obviously this investment can be done in accordance with Shariah principles in legitimate projects in agriculture, trade, industry etc. and also in the fields of interest, gambling and prostitution, which is haram.  It is now up to the relevant companies to distinguish legitimate and legitimate.  Insurance holders are not directly involved in any wrongdoing.  May Allaah make it easy for us to eliminate the interest system and adopt the Islamic system so our definite opinion is that the insurance and insurance scheme is very useful and legitimate.

 Life insurance is permissible in case of emergency:

 Here are some recommendations regarding the number of establishments in the name of life insurance or life insurance.

 Almost all of our banking business operates at interest.  Public, semi-government or private companies, organizations or individuals collect capital from people.  By encouraging them to pay rewards, bonuses and large sums of money in the event of accidents, they collect the same amount of money at a higher interest rate for the business by collecting capital from the public.  From the interest they get there, they also cover their expenses and pay the remaining amount in the name of bonuses, etc. to the account holders.  Obviously, all these businesses are based on the principle of interest, so it is basically forbidden.

 Sponsorships are among the duties of the Islamic Government, that is, the Islamic Government's duty is to fulfill the needs of its inhabitants in life, housing, food, education, treatment, clothing, etc., whether by employing a skilled worker or a job.  In Western countries and in some socialist countries this principle is Muslim, but sadly the rulers have failed to fulfill this responsibility in the name of Islam, and the rulers called Muslims are in denial of this principle, so everyone thinks that in Ola  Should I turn away from all this interest-based economy?  And as a result, I find myself in a trance, and leave the family behind to die for door-to-door stumbling, otherwise life insurers will follow and the interest system will be as connected to the economy as it is to the future of their children.  Save.  The time of death is fixed, but we do not know.  With this in mind, every man decides to protect his family.

 If the insurance or other institutions apply the Islamic principles of contribution to the profit and loss of the public in the fields of industry, commerce and agriculture, then the profit will be higher than interest and the provision of halal is also available but sorry.  The agents of our warrior God and the Messenger of Allah (peace and blessings of Allaah be upon him) fought an open declaration, taking this money on interest and running it on interest, and the Muslim people are sitting on the forbidden food because the insurance holders do not give their money on interest.  Insurance, insurance, etc. is justified in every way.  Considering that companies raise these funds in interest, there are two possibilities, in addition to the fact that they contribute to the principles of trade and commerce, agriculture, defense and profit sharing. It is undoubtedly true or needy.  Give it credit as a good Islamic scheme but companies will not follow up that their expenses cannot be met.  Therefore, they can operate successfully according to the principles of subjectivity.  Insurance and insurance for the public is nonetheless valid.  If we have any writings against it, it should be considered canceled.  We approach it.  Otherwise, companies distribute these funds at high interest rates to big traders, industrialists or landlords. This is indeed forbidden, but the insurance holders do not pay their money on interest, so insurance is permissible for them.

 Often you can insure yourself, your car, home, shop, crop, business, etc.