#AskJoeBradford

Joe answers the question "Is Life Insurance Halal?" discussing What is an insurable interest, how insurance companies are structured, and how they invest the insurance pool (i.e. the money that you pay for the policy).

[@tabishfaraazchaudhary2971]

I hv been looking for someone like you all my life as I hv made so many financial errors and blunders in the field of banking and insurance, Finally I can clear alot of air and my own confusion regarding Insurances and banking from an Islamic point of view as its something so desperately needed in the community, will watch all of you vids insha Allah

[@watermelon7867]

0:15-0:35 : "I am going to try to keep it under 3 minutes" lol

[@JoeBradford]

times 5 lol

[@sandspider79]

I'm glad that he did go over - learned a lot more from it then a quick 3 minute yes/no video. Thanks Joe!

[@TERZEGOOOOL1]

ماشاءالله ياشيخ joe وجهك يشع نورآ الله يثبتك ثباتآ حسنآ وإن شاءالله تكون أعمالك في موازين حسناتك Your brother in Allah from Saudi Arabia

[@ang31032006]

Thank you so much joe very insightful and i am working as a life insurance sales specialist and this is very insightful

[@theayahmuhammad1688]

I need help in understanding please

[@ArainInsuranceAgency]

Great insight. Thank you for sharing. I have recently gotten licensed to sell life insurance and trying to make sure I stay within the guides of Islam as much as possible. Based on what I heard, as an independent agent, I should be steering towards Mutual companies and further focus on those who have a strong social responsibility charter.

[@chidong6103]

Thank you for your transparent comment.

[@roberthannah7983]

A key problem in the discussion (around 8:50) is the discussion of the "misappropriation of wealth". Mr. Bradford (and presumably other Islamic scholars) do not seem to recognize the concept of risk pooling, which is how insurance company actuaries actually manage their claims liabilities. In this sense, there is no difference in the way takaful, joint stock insurance companies, or mutuals manage their liabilities. Both mutuals and commercial companies need capital to base the business on, he seems to think mutuals have no capital. That is not true. In fact, many mutuals are demutualizing to get more capital as commerical stock companies.

[@FaizanYM]

Thank you for sharing Sh. JB

[@nickmanning214]

Is abstaining from life insurance altogether an advisable option, since even the most ethical mutual insurance companies are problematic?

[@JoeBradford]

I think that would depend on your individual circumstances.

[@innercitadel3279]

How can I contact you directly. I want to email you a question. Thank you

[@WusselRestbrook]

Salaam, I just started a job for a mutual life insurance company as a business analyst. Is this haram?

[@jessiccaangelov5517]

Thank you for the explanation

[@Salbgm]

Less of two evils - makes sense. Thanks shake

[@sonyax561]

As-Salamu Alaikum !!!

[@jigglefloyd]

are you aware of any Islamic insurance companies in the United States, existing or in the process of forming?

[@JoeBradford]

none.

[@readbooksandopenyourmind]

An elaborate word salad answer by an otherwise pleasant person. 1. Sh. Bradford begins the interview by saying "Why do people ask about life insurance and disability insurance? They never ask about car insurance..." Has Joe Bradford considered that car insurance is government-mandated? 2. He said "I have written an article" 6 times. That's great. But would you mind answering the question? 3. He overlooks key sins in life insurance: gharar, riba, and gambling. 4. He compares life insurance to blood money. Life insurance pays out upon death, akin to a future-focused agreement. Blood money settles past events, like homicide, offering compensation for pardon. Life insurance profits from future uncertainty, while blood money resolves past incidents. 5. He compares life insurance to an investment. In life insurance, you pay money to a company in the hope of a payout on the condition that you die in a specific time period. That is not an investment. 6. He says gharar is permissible because of the Law of Second Best. He paints a reality in which people have only two options. He pretends there is no option where we don't have to get life insurance. In effect, he is using the same "necessity" argument which is used to justify Islamic mortgages. Sh. Joe Bradford holds an extreme view, acknowledged even by himself as a minority. While genuine, his opinions seem disconnected from the Quran and Sunnah.

[@JoeBradford]

Jazakallah khairan, I'll take your words to heart. Thank you for the advice and may Allah bless you.

[@readbooksandopenyourmind]

@@JoeBradford May Allah bless you too, Shaykh

[@jasontremel]

Salamalaykum! I love this video. I’m in financial services and I just took my shahada January 13 of this year. I’m doing my best to get oriented with what is the best for me and my clients. Participating whole life insurance with a mutual held insurance company, is the interest on the policy loan something we can work with or can they only access the money via cash?

[@JoeBradford]

Wa alaikum Salam! Congratulations. Would love to connect with you. If you can drop me an email on my website (support page) I'd be happy to follow up over email.

[@samehkhayat7695]

Salam Alaikum Sheikh, question: Is it permissible for me to redeem the points/cash rewards from the credit cards I have? p.s. I only choose credit cards with no annual fees, and always pay in time to avoid interests?

[@JoeBradford]

Yes, video coming up iA

[@fahimqazi4638]

What about free life insurance policy offered by employers?

[@JoeBradford]

any insurance policies that are offered to you by your employer are permissible for you to use, including life

[@fahimqazi4638]

@@JoeBradford Thank you!

[@fahimqazi4638]

What about life insurance offered by non-profit insurance companies? Can you speak about them?

[@angelsherbs311]

Asalamwalykum Joe, I am from the masjed in Jacksonville Florida. I am Angel, Rafat Balouta, wife. Not sure if you remember him. I have a very serious and personal question for you. Is there an email that I may ask my question?

[@JoeBradford]

You can reach Joe on his website. JoeBradford.net