Case of Life Insurance
Life insurance is essentially an agreement between you and your life insurance company.
To put it in simple terms, you agree to make payments of premium to your life insurance company according to the terms of your agreement. In turn, your life insurance company agrees to make payment of a specific amount to your designated beneficiary (or beneficiaries) upon your death. Hence, you decide who will be the beneficiaries (of your insurance policy) by completing a beneficiary designation form as part of obtaining the insurance policy. The UAE law permits this arrangement and the Sharia law does not apply to such insurance policy.