Socio-Historical Life Insurance Research, ‘Moral’ Obstacles and Sociology (original) (raw)
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Revisiting Life Insurance in Islamic Law
Turkish Journal of Islamic Economics (TUJISE) , 2016
Life insurance can provide individuals with an important financial planning tool through which they can obtain financial security for their families and businesses as the prime objective of life insurance is undertaking a responsibility towards safeguarding widows, orphans and other dependents of the deceased (assured / policyholder) from unexpected future material risks. However, it is not surprising that until now throughout the Muslim world the burning question of the day is whether life insurance is permissible or not? Indeed, a heated controversy has been raging over this problem, and Muslim jurists are divided into two groups on this issue. Some hold it permissible with certain conditions that should be imposed on it; and others reject it without considering any condition for its permissibility. Interestingly, both groups have supported their views, according to their understanding of the proofs and sources of Islamic law, which have created much confusion in the Muslim world. Hence, this article intends to reexamine the concept of life insurance and different views of Muslim jurists on this issue, in order to determine the preferable view in this regard.
Islamic insurance: National features and legal regulation
Arab LQ, 2007
Th e present paper studies Islamic insurance (takaful) as opposed to conventional one. Th e fi rst part of the paper covers, among other things, such issues as nature and historic roots of Islamic insurance, early forms of Islamic insurance and narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. Th e second part deals with history and emergence of Islamic insurance in the modern fi nancial market, as well as the practice of Islamic insurance in diff erent countries. Th e third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. Th e paper contains comprehensive glossary of related terms.
Insurance and Takaful Concepts: An Islamic Analysis and Offer in Life Assurance
Journal of Islamic Economic Laws
This paper aims to provide a comparative analysis between the concept of insurance and the concept of takaful from an Islamic perspective. The method used in this paper is the study of libraries, in which the author seeks to find, summarize, analyze and ultimately deduce from various authoritative data sources. Insurance is a non-bank financial institution that offers protection against difficulties to the public. By paying dues or premiums that have been determined, the public has the right to make a claim that will be reimbursed by the insured party several funds that have also been determined. The insurer states to bear all risks that occur in the future. Therefore, all dues paid will be covered and managed by the company. However, it turns out that attitude is detrimental. Because the claim from the customer is not filed, then the customer's money is forfeited and entirely belongs to the company. In addition, the management of funds that are unclear and even almost unknown t...
The present paper studies Islamic insurance (takaful) as opposed to conventional one. The first part of the paper covers, among other things, such issues as nature and historic roots of Islamic insurance, early forms of Islamic insurance and narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains comprehensive glossary of related terms.
The present paper studies Islamic insurance (takaful) as opposed to conventional one. The first part of the paper covers, among other things, such issues as the nature and historic roots of Islamic insurance and early forms of Islamic insurance and it narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with the history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains a comprehensive glossary of related terms.
Life Insurance, the Medical Examination and Cultural Values
Journal of Historical Sociology, 2000
This paper is concerned with the commodification of the risk of death which occurred with the development of life insurance and with the role of the medical examination in making life insurance a viable commodity. Using British and Australian data, it shows how the medical profession and the medical examination were crucial to nineteenth century life insurance institutions in the calculation of the value of human lives. Life insurance institutions combined a developing ideology of health with the knowledge of health statistics and applied both for a developing institutional finance market. The calculation and preservation of the value of individual human lives by the pooling of risks on selected lives is the service which life insurance sells and which underpins finance capital. The knowledge developed from health and morbidity statistics was a process both of social surveillance and of market-oriented monitoring for economic risk-reduction. At the level of the individual the necessity for life insurance was the dissolution of traditional community and familial support as industrial capitalism developed.
The present paper studies Islamic insurance (takaful) as opposed to conventional one. The first part of the paper covers, among other things, such issues as nature and historic roots of Islamic insurance, early forms of Islamic insurance and narrates the disputes among Muslim scholars concerning the compatibility of insurance with Islamic Shariah. The second part deals with history and emergence of Islamic insurance in the modern financial market, as well as the practice of Islamic insurance in different countries. The third part discusses the feasibility of Islamic insurance in Russia in the current legal framework. The paper contains comprehensive glossary of related terms.
Insurance: An Islamic Viewpoint
2014
Insurance is a co-operative (contractual) system among people to carry out the results of tort that may happen to anyone of them and pay his losses and damages. Insurance began with a co-operative nature then ended up as commercial (business). Islamic scholars (Imams), addressed Insurance because it is new and it was imported to our societies. Scholars had different pointviews about Insurance, which were divided mainly to: 1- Those who consider insurance Halal (accepted). 2- Those who consider insurance Haram (forbidden). 3- Those who consider commercial insurance done by companies as Haram and suggest co-operative and governmental insurance (social security). 4-Those who consider insurance Haram (forbidden) and suggest Islamic insurance in two stages. 5- Those who consider insurance Haram
An Epistemology of Life Insurance
Please cite from that source Insurers are responsible for the making of their own world. As put by Clark and Anderson in their edited book The Appeal of Insurance,