Q: What is the ruling on life insurance?
الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب
A: According to the overwhelming majority of Muslim scholars conventional insurance including conventional life insurance, is not permitted. Whilst a minority of scholars have tried to reason for the permissibility of conventional insurance such reasoning has generally been rejected hence the emergence of takaful based Shariah compliant models of insurance. If one feels the need to take out a policy that will provide for their offspring in the event of their death then one should seek a Shariah compliant alternative. If no such alternative is available one cannot take out a conventional policy out of a fear for what may or may not happen in the future.