Islamic/Sharia Insurance

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 Islamic/Sharia Insurance: A Solution

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When Mr Rahman died from newly bought car collided, then the 'left' is not only a new car badly damaged, but also a childless widow, orphan 2 people. Besides that 60-month installment burden of type 36 houses remaining. Unimaginable how big the financial burden (financial risk) to be borne by the young widow who had been relying pendapatnnya husband's income only from the employee's private. What about the future of these two toddler? Could he grow up healthy and educated as other children?

He was not a true story, but not impossible can be experienced by anyone. If so, then how the anticipation?
From the Islamic point of view, help and sympathize those who suffered such an obligation. Various verses of the Quran suggests that, among others, in surah Al-Baqarah verse 177 of surah Al-Maa'un and paragraph 1-7. All this is a form of caring about others, as well as indications of devotion to God Almighty. Did not the Prophet SAW has said that people of faith between one another is like building a mutually reinforcing, so that if one part suffers pain, then other parts of the body will also feel it.


In addition, Allah also asked our attention really to leave no weak generation (Surat An-Nisa: 9), good faith, intellectual, economic and physical.

The problem, how this noble guidance is implemented and institutionalized, so it can include the audience more, in addition to assistance or compensation is given sufficient means to empower or restore their financial condition affliction hits.

There are hadith which means: "Truth is not be defeated by applying a systematic kebatilan.
Insurance
Preventive solutions commonly offered in facing similar issues is insurance, which consists of:

    * General Insurance, which is a type of protection that was associated premises loss or damage / loss of property owned by a person

    * Life Insurance, which is a type of protection associated with the living death of a person. Three basic types of life insurance products, namely: insuransce term (term insurance, the benefit is paid if the unfortunate death in the agreement), whole life insurance insuranceendowment (endowment insurance, the insurance benefits paid if the participant died in the agreement or alive until the end of the agreement). (Insurance for life, insurance benefits are paid if the participant died), and
The type and any type of insurance, essentially starting from the principle of cooperation (Cooperation) and helping each other (mutuality), the real line with Islamic principles. The principle of cooperation and mutual assistance in the insurance operations is translated as an agreement between the insurer (insurance company) and insured (insurance participants) with the insurer receives a premium from the insured to obtain coverage manakal the insured suffered a loss, damage or loss due to the uncertain events and without yan deliberate; or insurer provides a payment that is based on a person dies or lives.

Insurance operations according to the pattern so, based on an exchange akadnya can be categorized as (raqad mu'awadhah), like buying and selling. Insurers (insurance companies) provide guarantees or insurance coverage to policyholders and to the insured (insurance participants) pay the premiums. Large pertangungan and premiums as well as term of the contract agreed upon by both parties.

Exchange in this way in the Islamic view of the uncertainty to be defective or gharar, as resting on an uncertain event. Dual-purpose products for example, participants are obliged to pay (pay in installments), premium, if participants live during the term of the contract to obtain insurance money which amount has been determined. The uncertainty in this example is the amount of premium paid, because payment of these premiums was based on life or death of participants in the agreement. In contrast to term insurance products, the uncertainty lies in the amount of coverage that will be received by the insured.

Furthermore, transactions that contain this kind of uncertainty can be detrimental to either party, which is generally the most disadvantaged pesertalah. Party participants or their beneficiaries can receive the sum is greater or smaller than the premium paid or not to accept money insured at all. In other words synonymous with insurance chancy, which in the terminology of Islamic jurisprudence called maysir. In other cases, if the participant stopped before the agreement ends, especially in the early period of the agreement, in general, participants did not get a refund of premiums already paid (charred), or get a refund in the amount of yag very small compared to the premiums already paid. Most of the premium funds received by the company then invested. In this regard, the contract does not require the exchange of clarity in the allocation of premium funds, because fund premiums paid by pesera, company-owned status.

Thus the company can invest the fund's premium anywhere, and in any way, including in the areas of business which contain elements of sinners or prohibited by the Shari'a (usury, liquor, porn, etc.). If the premium fund and its investment results to be the source of the sum insured, then the participants who receive the sum assured can not refrain from consuming ribawi funds or funds derived from the efforts of other sinners.
Islamic Insurance
Noble teachings of Islam commands us to sympathize people who lost property, death of relatives, or other calamity. Such actions are a manifestation of concern and solidarity (itsar), as well as mutual assistance (ta'awun) among citizens, both Muslims and non-Muslims. In this way a sense of brotherhood (ukhuwah) will be even stronger. Those who are not afflicted affliction hits protracted grief and fell into despair, even to avoid a possible drowning in poverty or loss of the future. But rose in ways helpful to be in line with the Shari'a (Sura 42: 13). Should not contain elements of gharar (uncertainty), maysir (chancy), usury, and other things that are sinners. Premises other words, ta'awun be placed on the values of devotion to virtue, and not sharia law violations that could lead to conflict or hostility. This is as commands of God in surah Al-anymore: 2: "Mutual help menolonglah you in righteousness and piety, and do not you guys mutual help each other in sin and enmity"

Islamic insurance system is an alternative, to be exact replacement, the pattern of applying conventional insurance or contract of exchange systems that are not in line with Islamic Sharia. In Islamic insurance system, each participant intends mutual help each other by setting aside some funds as a contribution virtue (tabarru '). These funds are used to sympathize anyone among participants who experienced disaster insurance. So it was not in the form of an exchange agreement dianatara two parties, but the agreement for mutual assistance to each other (takaafuli) among all participants.
All funds collected premiums that are managed by the company to invest, re-insurance, distribution of insurance benefits, and distribution of operating surplus. For all these management services, the company asked for employees' contributions which amount must be approved by the participants, as well as part of operating surpluses as agreed by participants that the percentage of companies established since the early nisbahnya.

Solidarity, Transparency, and Consistency
The phenomenon of Islamic insurance is a unique phenomenon (al-ghuraba) in the center of the capitalistic economic currents and individualistic. Financially, the system allows the acquisition of Islamic insurance (benefits) the better. Simultaneously, a spirit of solidarity was fostered through the contributions of virtue (tabarru ') insurance participants.

Tabarru system 'and profit sharing (mudaraba) stipulated in the operational pattern of Islamic insurance requires transparency in the funding status and its management. Similarly, in terms of contribution to management costs, which set aside a bit of a premium the first year alone, clearly defined and become part of the deal participants. Thus since the early participants clearly know disetorkannya premium components, namely tabarru '(dues kabajikan), savings (absolute rights of participants), and the contribution of management fees (30% premium the first year). In addition, participants can see the progress from time to time in the development of the cash value policy, namely the accumulation of savings and for the results. Therefore, when participants intended to resign in the agreement for any reason, the cash value that can be received can be calculated in value and clear the source (derived from savings and for the results). Likewise, death claims received by the heirs of participants, consisting of insurance benefits or compensation virtue (sourced from tabarru-tabarru 'participants), the savings that have been deposited in the savings and profit sharing.


In terms of investment, in addition to considerations of profitability, business compliance with the provisions of sharia is a determinant of investment decisions. Therefore the role of the Sharia Supervisory Board to be very important in the dynamics of development of Islamic insurance business, which was not found in conventional insurance.

Ultimately, not wrong to say that the Islamic insurance operations as described above and Sharia Supervisory Board's involvement in the overall chain of events and illustrates the consistency of Islamic insurance products insurance ta'awun sharia as a system (mutual assistance cooperation) which is based on the value- value of the Islamic sharia.

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