Title: I live in Pakistan. I have two life insurance policies. The investment in one insurance policy goes to shares market so the unit value of the policy fluctuates (there can be gain or loss as well). in the other policy investment goes in inetrest based securities. plz guide should i pay zakat on both these policies. I have prize bonds of reasonable value. Am i required to pay zakat on these. plz guide. thanks

Question: I live in Pakistan. I have two life insurance policies. The investment in one insurance policy goes to shares market so the unit value of the policy fluctuates (there can be gain or loss as well). in the other policy investment goes in inetrest based securities. plz guide should i pay zakat on both these policies. I have prize bonds of reasonable value. Am i required to pay zakat on these. plz guide. thanks

Answer ID: 7840Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 2019/316=B /1429)