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What is the argument of the scholars who said that insurance is permissible (Halal)?

April 26, 2017halal Insurance permissible said Scholars

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What is the argument of the scholars who said that insurance is permissible (Halal)?

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The scholars who are of the opinion that insurance is permissible said that insurance is a modem contract and there is no injunction (nass) regarding it. If there is no injunction, then it is allowed (mubah). They based their argument on the established legal maxim that “The original legal position on any matter is permissibility until there is evidence prohibiting it.” This legal maxim is based on the Quran of which some of the related verses are as follows:- We have subjugated to you all that is in the heavens and the earth (45:13) These scholars further claimed that insurance is a contract that brings ‘maslahah’ (public interest) to the insured. Without insurance for example, one’s next of kin will suffer a huge burden after his death. The scholars further said that custom (uruf) establishes the practicality of Insurance.