Chat asked:


There have been a lot of issues in the news these days regarding the trustworthiness of insurance companies. Are these instruments regulated by the government? How are these funds different from those issued by banks? My aunt is trying to sell me these funds and I want to know the whole picture.
Wow, these are really good answers. Thanks guys.

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mr. roo .JPA. asked:


Can someone explain this issue for me?

The Economic Times (India) reports that representatives from around 300 Madrasas, including Darul Uloom Deoband, Jamiat Islami participated in the three-day seminar to deliberate whether insuring health was permissible under Islamic law Shariat, and that the Islamic Fiqh Academy (India) decided that such policies were illegal as amounting to gambling..

Representatives from around 300 Madrasas, including Darul Uloom Deoband, Jamiat Islami participated in the three-day meet, where they reached a conclusion that seeking insurance cover was only another form of gambling.

This is the link to the article:

http://economictimes.indiatimes.com/Personal_Finance/Insurance/Insurance_news/Health_Insuarance_illegal_Islamic_body/rssarticleshow/2930737.cms
Health Insuarance illegal: Islamic body

6 Apr, 2008

NEW DELHI: Comparing the benefits of health insurance policy to gambling, key Islamic organisations have termed the policies as illegal and directed Muslims to keep away from them.

At a seminar to deliberate whether insuring health was permissible under Islamic law Shariat, the Islamic Fiqh Academy (India) decided that availing such policies was illegal.

Representatives from around 300 Madrasas, including Darul Uloom Deoband, Jamiat Islami participated in the three-day meet, where they reached a conclusion that seeking insurance cover was only another form of gambling.

Health insurance schemes have turned a noble service in to a business activity, hence under Islam it is not permitted, they said.

The Academy, however said, if a person had insured himself under some legal constraints, then it was matter that could be thought over.
Well, I can understand why if one were determined to, one could regard any form of insurance as gambling. You bet your premiums against the uncertain outcome….

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Pamela Z asked:


I found out I was pregnant a few days after I started working for this company. Now that I completed the 3 months probation period, I’m applying for health insurance but in the form I’m filling they ask if I’m pregnant! I don’t want to brake the news this way, I wanted to tell the in a more courteous manner because they’ve been really good to me. Now it seems that I’m handing the papers and telling them that I’m 4 months pregnant!!! Does not look very appropiate, but I’m force to do it. I need the insurance badly, it’s true, but that is not the reason I got a job in hte first place.

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Ivan B. asked:


I heard this on the news and from other people, but is it true. If you have a new red colored car can you tell me if your bills are higher than other people you know. I mean they said that even if the car is exactly the same and bought at the same time would the red one have higher insurance bills than the other colored one?

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Bean asked:


Crashing economy, sweetheart deals, $5 gas, and hedge fund insider dealing with Exxon Mobil and Chevron is soft played as well as the home mortgage meltdown. Polar bear stories top congress woman in calif. buying four houses and nothing about Countrywide being sued in four states for billions. Wow, just asleep at the wheel.

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4532 asked:


Healthcare is in the news almost every day and obviously what we have a nation is not working. We recently tried to insure our seven year old (after we lost our group coverage) and found out that because of a pre-existing condition she was uninsurable by the insurance company that we had paid premiums to for all seven years of her life. What has been your worst experience with health insurance?

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Charlie D asked:


What gives? I thought cons such as Mark Foley LIKED 12-year-old boys?

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Tom asked:


I was reading the news when I spotted an article about Obama’s plan to raise the federal deposit insurance from $100,000 to $250,000. What a great idea. The lack of insurance is what made the great depression as terrible as it was (banks just kept the money when they went under), and it was set at $100,000 dollars ages ago. It’s about time someone suggest raising the amount. It will be a great help in saving retirements and small businesses in the current economy.

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abby asked:


i already gave them 7,600 out of my credit card. is it a wise choice to continue the insurance? i have to pay 1,840 for 7 years. andif i wait for the maturity, it would be another 8 years, pls. help. Really need your insights.

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herfinator asked:


I imagine it varies from place to place, but just the basics would be great, I suppose. Do you have insurance (medical, dental, etc.) while you’re under contract, while your books are still selling, lifetime, what? Do they expect you to go out and get your own insurance? Family coverage? Pre-existing conditions? Is it group insurance? Any questions I forgot to ask, could you answer them while you’re at it?

Yeah, I’m kinda looking for good news for my family. Some of them already think I’m crazy for pursuing this, but they’re the ones who don’t read what I write and when they do say so what?

Thanks all!

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