Concern of Ribit when Taking Insurance
This question and answer were automatically translated using our trained AI and have not yet been reviewed by a qualified rabbi. Please treat this translation with caution.
Go to original →
Question
Taking insurance in ten installments with interest?
Answer
If the payment is to the credit company, it is forbidden. If it is to the insurance company and all payments are made during the insurance period, it is permitted, because ribit is specifically forbidden in transactions where the payment is immediate. However, in rental, where the payment is at the end, there is no ribit. Insurance can be compared to rental, and it is permitted only within the insurance period, but if it is before or after, it is forbidden.
Source
Shulchan Aruch, Yoreh De'ah, Siman 176
Comments
Have an additional question on this topic or need clarification? Leave your comment below. (Please note that the comment will not be published but will be sent directly to the answering Rabbi for review and a private response)
