Fatwa on Medical Insurance in Islam [Updated]

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Hi all readers! Are you looking for an explanation of the fatwa on medical insurance in Islam? If your answer is “Yes”, congratulations! Now you are reading the right article. Why? Because that’s what I’m going to explain in this article. As a Muslim, you have to understand that. That’s why I wrote this article. So, you should read it to the end!

Specifically, there are some important points about the fatwa on medical insurance in Islam which I will explain in this article. Some important things I mean are as follows:

A. Medical Insurance in Islam: Basic Things You Must Understand.
B. Medical Insurance in Islam: Halal or Haram?
C. 5 Fatwa About Medical Insurance in Islam.

Medical Insurance in Islam: Basic Things You Must Understand

The important thing about the fatwa on medical insurance in Islam which I will explain now is medical insurance in Islam: basic things you must understand. I want you to understand that first before you read more explanations in this article because that is one of the basic things in this discussion that must be well understood.

Medical insurance is one type of insurance that is used to protect against the impact of financial losses or loss of income of a person or family due to a sick family member.

In simple terms, medical insurance is a type of insurance that aims to cover a person or family against unexpected financial losses due to illness of the policyholder.

In Islam, according to some experts in Islamic law, medical insurance funds must be managed according to Islamic rules.

The main difference between medical insurance in Islam and conventional medical insurance lies in the basic concepts and ways of managing funds in accordance with Islamic principles. Medical insurance in Islam is insurance based on the principle of mutual help and protection among participants through contributions to the Tabarru Fund, which is a collection of benevolent funds from the contributions of shariah medical insurance participants who agree to help each other if there is a risk between them. These funds are then managed according to sharia principles and under the supervision of a sharia board to deal with certain risks.

If there is a risk to the participant, insurance will be paid from the Tabarru Fund. This concept is also known as risk sharing. In conventional medical insurance, customers pay a premium for the protection they buy from the insurance company. If there is a risk to the customer, the medical insurance company will provide a number of insurance benefits. This concept is also known as risk transferring.

There are some basic differences between Islamic medical insurance or sharia medical insurance and conventional medical insurance in terms of contracts, ownership of funds, surplus underwriting, investment management and insurance supervision. In sharia medical insurance, there are several types of transactions that must be avoided, namely gharar or uncertainty, usury or additions and maysir or gambling. So, customer funds in sharia medical insurance, especially unit link, will not be invested in things that are contrary to Islam, for example financial and banking products with the concept of usury, cigarettes, and liquor.

Sharia medical insurance is a medical insurance product according to Islamic principles.

That’s a brief explanation of medical insurance in Islam: basic things you must understand. As Muslims, we must understand that.

Medical Insurance in Islam: Halal or Haram?

The important thing about the fatwa on medical insurance in Islam which I will explain now is medical insurance in Islam: halal or haram? I want you to understand that because it is one of the important questions about “medical insurance” that some Muslims don’t understand very well.

If we understand some of the previous explanations, we can conclude that medical insurance in Islam is halal insurance. The reason is because medical insurance funds in Islam are managed according to Islamic rules.

There are several specific reasons why medical insurance in Islam is halal insurance:

One: there is an element of protection in medical insurance in Islam.

Two: there is an element of mutual assistance in medical insurance in Islam.

Three: there is an element of goodness in medical insurance in Islam.

Four: there is an element of sharing risks and benefits in medical insurance in Islam.

Five: medical insurance is part of muamalah.

That’s a brief explanation of medical insurance in Islam: halal or haram? As Muslims, we must understand that.

Read Also:

Concept of Takaful (Islamic Insurance)

5 Fatwa About Medical Insurance in Islam

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Founder, Author, Indonesian Blogger, Muslim, Graduate of Al-Azhar University, Cairo, Egypt.

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