An analytical study of the decisions of modern institutions related to medical insurance

Abstract

Medical Insurance emerged as a result of costly treatment facilities. Its procedure is based an agreement. This agreement is settled down between two parties i.e. insurance company disease effected person. In case of paying certain Premium for a certain duration. Premium fluctuation affects the limitations of treatment. In general circumstances, medical insurance is prohibited by Shriah. As it's evident that there are elements of uncertainty, gabbling and usuary. Although medical insurance is allowed by shariah in case of compulsion. But it's compulsory to perform Sadaqa on additional amount of original amount. Thus, the decision given by Islamic Fiqah Academy India and Majma ul Fiqah Isami Jadda is completely close to the teachings laid down by Islamic Shariah.