Discovery Health Insurance

QUESTION: Is it permissible to take out Medical Aid with Discovery? What about "Vitality Rewards" with Discovery? Is this Jaaiz? ANSWER: We have not approved of Discovery health insurance or the Vitality rewards programme that is linked to health insurance. We...

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Insurance on transported goods

QUESTION: I am going to start an online store for my business. I will be using a courier company to deliver my orders. However they are advising that I insure my goods, reason being, that the high risk involved with their vehicles being targets of theft/hijacking. I,...

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Insurance payout from building

Question:- Two weeks ago a family member of ours requested that we lend him some money because his geyser had burst ! Because he is staying in a block of flats the insurance covers burst geysers etc. (Please note that he does not have insurance.) The building manager...

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Working for an insurance company

QUESTION: My sister served as an accountant in a life insurance firm (that also dealt with retirement annuities, loans) for several years, but resigned upon discovering it's in conflict with Islamic principles. She now follows specific guidelines for the money she...

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Subscribing to a living annuity

Question:- 1. Is a living annuity permissible for me to take out upon retirement. 2. If I have a voluntary Retirement annuity,  I don't have access to the money until Retirement. Do I pay Zakaat on this? 3. If I take out an investment, my money is with the investment...

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Life cover to secure a loan

QUESTION: Is life cover that is imposed upon by the lending company acceptable for a short term loan. The insurance covers loss of salary, disability and death on the outstanding balance. In the event the borrower is deceased, the amount owing becomes fully paid....

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Inheritance from life insurance

QUESTION: My father passed away few weeks ago (24 Rabiul Akhir 1445), and he did not have a will. We managed to find out about most of the people he owed money to and managed to settle their accounts, Alhamdulillah. However, my daddy had debts with the bank amounting...

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Exporting goods

QUESTION: With regards to exporting goods, most international buyers, whether Muslim or non-Muslim, require the goods to be sent via the CIF (Cost, Insurance and Freight) shipping method. This means that the seller is responsible for all the costs involved right up...

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