Life policy
Question
Can I enter into a buy and sell agreement for my share of a business interest and fund this by way of a life policy. My family will not be able to run the business and it needs to be sold. Please advise on the possible solution, my partner will not have the cash to buy my share.
Answer
Life policies are haraam.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.