What Does Islam Say About Life Insurance? 
Takaful is a type of insurance established an an alternative to commercial insurance to address some of the inherent incompatibilities - interest , gambling and uncertainty principles - with Sharia law . Members contribute money into a pooling system to guarantee each other against loss . I do n't believe there are any in this country . According to AM Best , the first Takaful insurer was established in 1979 and the market has grown to comprise over 200 companies primarily in the Middle East and Malaysia . 