Life Insurance: Putting a price on your life? | Theres a common misconception that to buy a life insurance policy is to put a price onto ones life, especially amongst Muslims. Hence, making them quick to declare it haram (impermissible). Firstly, can you put a price into your life? No one can. How much is your life worth? Definitely priceless! Precisely because our lives is priceless, our absence will be a huge impact to our loved ones. Life insurance fully acknowledges this. On top of it, life insurance also acknowledges that the income that you bring home every month to provide for the family or to put food on the table will be gone when you are no longer. Hence, what life insurance does is to protect your income when youre no longer around, i.e. to enable you to leave behind some money to support your family, at least for the next few years. How much is required would depend on your financial needs, and it is the duty of your financial advisor to go through the advisory process with you to be able to give you the best advice. Knowing this, and that you have yet to have a life insurance policy, what are you waiting for? Engage a professional, independent consultant to discuss your financial needs. PM me for further enquiries or to arrange an appointment. M Farhan M Samsudin Consultant, Financial Advisory Financial Alliance Islamic Wealth Advisory (FAiWA) Navigating Your Financial Future
Posted on: Wed, 16 Oct 2013 03:06:19 +0000
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