{"_id":"668da0410b76658b4c23324c","title":"What is the Islamic perspective on insurance as a concept and practice?","question":"What is the Islamic perspective on insurance as a concept and practice? For example,are health and pet insurance permitted?","answer":"Insurance is not recognized as a valid transaction under Islamic law. Nevertheless, scholars permit it in situations where it becomes an absolute necessity, such as car insurance, which is legally mandated for vehicle ownership—a necessity for many individuals. Similarly, health insurance is deemed permissible out of necessity in regions like the US where medical expenses are prohibitively high.","tags":[{"_id":"668d9ff00b76658b4c2329a6","tag":"Contemporary Life: Insurance","count":10}],"createdOn":"2024-07-09T20:40:33.300Z"}