SHARIA INSURANCE
Legal Basis and Types of Sharia Insurance

Islamic insurance is a risk management arrangement that meets the requirements of sharia, mutual help, involving participants and operators. Sharia comes from the provisions in the Qur'an and Sunnah

In the perspective of Islamic economics, insurance is known as takaful derived from the Arabic taka <fala-yataka <fulu-takaful which means to bear each other or guarantee each other. Insurance can be interpreted as an agreement relating to coverage or guarantee for the risk of certain losses.

Insurance is a way or method to maintain humans in avoiding risks (threats) of various hazards that will occur in their lives, in the course of their life activities or in their economic activities.

In the encyclopedia of Islamic law it has been stated that insurance is an agreement transaction between two parties, where one party is obliged to pay contributions and the other party is  obliged to provide full guarantee to the fee payer if something happens to the first party in accordance with the agreement made



Legal Basis and Types of Sharia Insurance

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Insurance has the following elements:
  1. The insured party
  2. There is an insurer
  3. An insurance agreement
  4. There is a premium payment
  5. Any loss, damage or loss of profit (suffered by the insured)
  6. There is an uncertain event

Legal Basis of Sharia Insurance

  • Al-Qur'an 

The Qur'anic verse which has the value of insurance practices, among others:
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1) Allah SWT command to help each other and cooperate
Surat al-Maidah (5): 2
Meaning: "And please help you in doing good and taqwa, and do not help in deeds sin and
transgression. Be obedient to Allah, indeed Allah is very heavy in His punishment".

Surat al-Baqarah (2): 185
Meaning: "... God wants convenience for you, and not wants trouble for you ... "

2) God's command to prepare for the future
Surat al-Hashr (59): 18
Meaning: "O you who believe! Give thanks to God and let everyone pay attention to what has been
do it for tomorrow (hereafter). And bertaqwalah to Allah. Indeed Allah is Examining what is
you do it ".

3) God's command to protect each other in difficult circumstances
Quraysh Letter (106): 4
Meaning: "Who has given them food to eliminate hunger and secure them from taste fear".

Surat al-Baqarah (2): 126
Meaning: "And (remember) when Ibrahim prayed," My Lord Make this (the land of Mecca) a safe country. "


  • The Sunnah of the Nabi SAW


1) Hadith about Aqilah.

Meaning: "Narrated by Abu Hurairah ra, he said: Disputing two women from the Huzail tribe, then one the woman throws a stone at another woman so resulting in the death of the woman  and her fetus she conceived. Then the heir of the woman who died he complained about the incident to the Prophet peace be upon him, then the Rasulullah SAW decided the compensation from murder of the fetus with release a male or female slave, and decide compensation for the woman's death with blood money (diyat) paid by his aqilah (relatives of male parents)". (HR. Bukhari)

2) Hadits tentang anjuran menghilangkan kesulitan seseorang.

Artinya: “Diriwayatkan oleh Abu Hurairah ra, Nabi Muhammad bersabda: Barangsiapa yang menghilangkan kesulitan duniawinya seorang mukmin, maka Allah SWT akan menghilangkan  kesulitanya pada hari kiamat. Barangsiapa yang mempermudah kesulitan seseorang, maka Allah SWT akan mempermudah urusannya di dunia dan di akhirat”. (HR.Muslim)

3) Hadits tentang menghindari risiko.

Artinya : “Diriwayatkan dari Anas bin Malik ra, bertanya seseorang kepada Rasulullah SAW, tentang (untanya) :”Apa (unta) ini saya ikat saja atau langsung saya bertawakal pada Allah SWT.
“Bersabda Rasulullah saw. : pertama ikatlah unta itu kemudian bertaqwalah kepada Allah SWT.
(HR. at-Tirmizi)

  • Ijtihad

Friend's practice in paying penalties (compensation) ever carried out by the second caliph, Umar bin Khattab. He said: "The people whose names are listed in the diwan are entitled receive help from each other and must contribute to payment of punishment (compensation) for murder (accidentally) done by a member of the community ". Where is Umar the person who first issued the order to prepare the list this, and registered people are required to bear one another's burdens

  • Ijmak

Ijmak namely the agreement of the mujtahid on a shara law ' concerning an event that occurred after the Apostle died

  • Qiyas

Qiyas is a method of ijtihad by equating a law things that have no provisions in the Qur'an and Sunnah with other cases whose laws are referred to in the Qur'an and Sunnah because of the illat equation (cause or reason).

  • Istihsan

According to language, it is good to think of something. According to the term according to usul ulama is the shift of one's thinking mujtahid from the real demands of qiyas to vague qiyas or from the law common to exceptions because there was a misconception that later won the move
Legal Basis and Types of Sharia Insurance
Legal Basis and Types of Sharia Insurance


Types of Sharia Insurance

Islamic insurance consists of two types, namely:

1. Family Takaful (Life Insurance) is a form of Islamic insurance provide protection in the face of death and death accident for takaful insurance participants.

Family takaful insurance products include:
1. Takaful plans
2. Takaful financing
3. Educational takaful
4. Takaful of Hajj funds
5. Takaful futures
6. Takaful student accident
7. Takaful personal accident
8. Takaful khairat family

2. General Takaful (Loss insurance) is a form of Islamic insurance provide financial protection in the face of disaster or accident on property belonging to takaful participants. Berita Kendari

General Takaful Insurance products are:
1. Takaful fires
2. Takaful motorized vehicle
3. Transportation takaful
4. Development Risk Takaful
5. Installation Risk Takaful
6. Takaful Money Storage
7. Combined Takaful
8. Takaful Aneka
9. Takaful engineering / Engineering

Source : digilib.uinsby.ac.id/11254/7/bab2.pdf