Is it permissible to sell any of these plans or insurances ?

Question:

Is it permissible to sell any of these plans or insurances: RRSP, RESP, TFSA Pension plans Open investments Universal life insurance Whole life insurance Term insurance Segregated funds Auto insurance Home insurance Mortgage for home Mortgage insurance Health insurance Supervisa/ Visitor insurance Travel insurance Disability insurance Critical illness insurance Business insurance Group insurance Accident & Sickness insurance. Income replacement insurance Long term care insurance Funeral insurance Debt consolidation, Loans

Answer: ِﺑ ْﺴ ِﻢ ا ِﷲ اﻟ ﱠﺮ ْﺣﻤ ِﻦ اﻟ ﱠﺮ ِﺣْﯿﻢ In the name of Allah, the Most Gracious, the Most Merciful

Insurance plans either have an element of gambling, interest, or deception therein (Contemporary Fatawaa: p. 122 [M.S. OMAR]), hence one should avoid selling such plans. As a general rule, we should avoid any job that entails directly assisting others in sin. Allah (s.w.t.) says, “And do not assist one another in sin and aggression.” (Surah Al-Maidah: verse 2) Hence, if selling any of the above-mentioned plans would require you to assist someone in committing a sinful act, you should avoid it. If you would like us to comment on any specific plan/insurance, we would need more details regarding the nature of each plan/insurance and what your exact role would be; a contract would be helpful in achieving this goal. Once you have provided the necessary details, we can conduct individual research on the plan/insurance referenced.

Only Allah knows best

Written by Maulana Mohammad Ahsan Osmani Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham