Islamic Life Insurance Terms You Should Know
Insurance is an agreement between two or more parties, in which the parties bearing of tying themselves to the insured, by means of receiving the insurance premium to be able to provide reimbursement to the insured because a loss, damages or lost profits expected. Of the many types of insurance, Shariah-compliant insurance being one of these types of insurance are much sought after by the public because of its religious laws more clearly assessed.
In the context of Sharia insurance itself is a business cooperation for mutual protect among a number of people in the face of a disaster through treaties already agreed jointly in accordance with Islamic teachings. The agreement which was used in Islamic life insurance itself using the principle of the Akkadian Takafuli meaning please help with the basic principle of Tabarru ', and for managing the funds themselves use the principle of Mudharabah through investment the Sharia. In Sharia insurance also must comply with Islamic jurisprudence which is considering restrictions that should be avoided such as do not contain Gharar or uncertainty, then maysir or gambling, usury or interest, it stuffs the illegitimate and immoral as well which is prohibited. And to support the Islamic system, it requires the right contract as follows:
Use The Akkadian Tijarah
The first is the tijarah contract, which has a purpose to such commercial profit. Where the profits are not the property of the company, but done for system results by participant or customer of insurance.
Use The Akkadian Tabarru
Then the second is the Akkadian tabarru non profit goals which for policy as well as Please help, and not with any commercial purpose. There are a few key points in the proposed agreement the tabarru participants in mutual please help, then the right and also the obligation of the participant and the company, and the way the premium payment as well as time and also claims, then the provisions could or not a contribution which is withdrawn by the participants in the event of cancellation of the participant and also alternative provisions as well as the percentage of the Division surples underwiting.
Have The Purpose Of Helping Each Other
And then the third is viewed from its purpose, which mutually help each other where to give dana the virtue of liberality with the intention to help each other another fellow participants of Islamic life insurance if there is later exposed disaster. The Fund therefore tabarru is kept in a special account in one if the later to occur of a risk, given the claims Fund is money that comes from the account of the Fund which has European tabarru by all participants for the interest please handy.
Based On The Qur'an And Hadith
In addition in an Islamic economy, governance and also the rule must be a cornerstone of Islamic law i.e. the Quran and the Hadith as well. It ter call that into a points in the framers of the runway where the fatwa issued by the Board of the National Assembly of the Islamic Ulama Indonesia. As for the grammar of laksananya Financial Services Authority issued which became a staple of the reference implementation in Indonesia. In this Islamic life insurance on its own, the Foundation fatwanya is a national Sharia Council MUI Fatwa with number 21/DSN-MUI/X/2001, regarding the guidelines of Islamic Insurance.
So that's some of the requirements that exist within the Islamic life insurance all you need to know, know all the rules, of course, later you will more firmly to join as well as Shariah-compliant insurance because there is no profit in it, so it will be more secure and not to worry about.
