Why life insurance is or is not appropriate in Islamic countries Research Paper

Why life insurance is or is not appropriate in Islamic countries - Research cover ExampleThe first superstar of the view that insurance of any kind is prohibited because it is an agreement based on doubts, it is against Gods commands and insurance patronage is based on evoke. lifetime insurance is used to cover financial loss happening from death. It is impossible to define life insurance in a single definition as there are different ways to explain it. In simple words life insurance is a hawkshaw to safeguard against natural calamities. The aim of every individual is to secure his family from future risks. Every person dreams for prosperous life for his near and dear ones, a luminous future for their children and self without depending on others. The life insurance guarantees materializing these aims by paying them in terms of money.There was a time when necessities of life were fulfilled by government or charity organizations. As the population increases the resources are shr inking day by day. World is being governed by man-made laws and lust for tycoon and corruption is multiplying in every walk of life. Basic necessities like food, shelter, education and social services are no more available. Even fresh and classical breathing is no more.It seems difficult to make both ends meet. Individual earning in a family when meets with any misfortune like natural death, Job termination, disability etc than one can imagine how he will cope with completely this. Here life insurance is the only option available to avail in this situation.Life insurance is a vast subject if studied it will give you a short- cut to fulfill above mentioned noble commitments. After collecting colossal sum of money from the public the insurance company with the governments assistance can run various projects at national level.Through all this government uses this cash for various schemes such as power generation, special education, employment generation etc. In return government pa ys suitable interest so that public should get their maximum profit at