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Khums On Life Insurance

Q:

Dear Maulana Saheb Salamun ‘Alaykum Wa Rahmatullahi Wa Barakatuhu.

I shall be grateful if you will kindly provide the answer to the following question. I am a muqallid of Ayatullah Al-Sistani Dama-Dhilluhu.

QUESTION A wife has been approved by the Insurance Company to receive the Insurance money for the Life Insurance Policy her husband left for her as the sole beneficiary. She was given the following 4 Settlement Options besides the choice to be paid with a Check for the entire insured amount.

Option A: The proceeds would be paid to her in equal installments for the fixed period for the amount to be selected.

Option B: The proceeds would be paid in monthly installments for a fixed period for the amount to be selected and thereafter for life.

Option C: The proceeds will be held by the Insurance Company. The beneficiary can ask to be paid in whole or in part at any time. She would earn interest on the amount held by the Insurance Company

Option D: The proceeds would be paid in equal installments for the amount selected until the proceeds and interest are fully paid.

She selected Option C.

QUESTION 1] Will she be required to pay Khums for the total amount which is being held by the Insurance Company on the date she set to pay her khums after expenses? or

2] Will she be required to pay Khums for the amount she withdraws during the year on the date she had set to pay her Khums due after deducting her expenses during the year?

YOUR EARLIEST ATTENTION WILL BE APPRECIATED.

Iltimase Du’a Ending with Salaams and Du’a. Yusuf

A:

 In the Name of Allah, the Beneficent, the Merciful

Khum is applicable “in her khums day” on what she received

Wassalamu Alaykum

Imam Ali Foundation