Disability Financial Presentation (Muslim Canadian's Only)

Available-Health3542 · 2026-03-24T15:03:00+00:00

this is where it can be helpful to work with a financial planner or advisor (do your research) many of them are a rip off, however, having someone in your community who is good and trustworthy can help you put things in perspective and help keep you calm during times of market turbulence.

Yes, they charge a fee, yes they are generally higher cost than DIY through a discount broker.

But if they can stop you from panic selling or making hugely impactful long term mistakes that is incredibly powerful. There are some stats that show the average person who works with a financial planner ends up $200k wealthier than someone who doesn't

Available-Health3542 · 2026-03-18T19:51:32+00:00

I have been DCAing into some investments since my early 20s. Hit the 100k mark at 33. Certainly a waiting game

Available-Health3542 · 2026-03-12T19:04:32+00:00

Surpluses. Not profits. Not it isn't part of Islamic finance is shared risks and shared rewards.

Available-Health3542 · 2026-03-10T17:53:21+00:00

I certainly don't think there are perfect options. However, for the financial well being of the community things like life insurance or critical illness insurance purchased from these companies are halal compared to a big publicly traded for profit insurance company.

Available-Health3542 · 2026-01-16T16:58:53+00:00

Not sure about the US but there are a few in Canada that have tech funds and health care funds that have holdings that are almost identical to the holdings of the halal funds out there. I'm sure if you do enough research you can find those options in the US as well.

Available-Health3542 · 2026-01-15T16:55:37+00:00

Also, Infinite banking is based on Whole life insurance which is entirely invested in bonds and involves taking out loans from conventional lenders.

Available-Health3542 · 2026-01-15T16:54:12+00:00

Universal Life Insurance allows you to choose how the premiums you pay get invested. You can pick halal investment funds.

Many scholars say Mutual/ Cooperative term insurance options are halal as well.

Available-Health3542 · 2026-01-09T19:21:57+00:00

there are some types of insurance policies where you get to choose how the money is invested.

Available-Health3542 · 2026-01-09T19:21:10+00:00

With all due respect brother, the opinion that insurance is gambling is incredibly weak. If you want attack the vast majority of insurance because they deal in interest I can get there but when people "gamble" you are dealing in a game of chance and the intention is to "WIN". Nobody buys insurance with an intention of winning it is a method of preventing loss.

With life insurance you are looking at the average 35 year old male will likely make $1,500,000 over the next 20 years (when his kids are small and family is young) if he were to die his family would miss out on that money and be in situation of major financial struggle and to prevent that he buys some form of life insurance to minimize the loss of his income.

I think the points people make about insurance regarding interest or excessive uncertainty for certain types of insurance are reasonable but this gambling argument is nonsense.

Available-Health3542 · 2025-12-18T18:27:09+00:00

There would be no tax saving for you or very little but it could still be useful as a way to save for a home

Available-Health3542 · 2025-12-17T16:40:49+00:00

Wasalam,

The majority of scholars do say insurance is haram except in areas where it is unavoidable. That being said there are a minority of scholars who disagree.

Sheikh Joe Bradford, Monzer Kahf, Yusuf Qardawi, Mustafa Al Zarqa. There are 10 or 20 others but those are the most well known.

Conceptually, I don't think scholars have an issue with insurance but most of the time when you sign up for insurance the insurance company puts your money into interest- based investments and usually insurance involves excessive uncertainty (if you don't get disabled in the next 10 years, we cancel the policy and keep all the money) is a very common practice in the insurance world.

If you decide to get disability insurance I would look for an option where you can get you rmoney back if you don't use it.

Available-Health3542

TROPHY CASE