Muhaqqaq Masala

There is both interest (Riba) and gambling (Qimar) in LIC. If the person taking the scheme stays alive until the completion of the term, they receive the amount with an addition; this is interest. And if they pass away before that, regardless of how much they have deposited, they receive the full amount; this is Qimar and gambling. Therefore, LIC is not permissible, and committing such a sin is not permissible. Similarly, cooperating in a sinful act and inviting people towards this act is also not permissible. (Book: Kitab al-Fatawa / Vol: 5 / Pg: 362)