Q: Salaam alaykum,
My parents have life insurance .  Should I ask them to take me off of it and to remove me from being able to receive any money if something happened to them.?  I do not want to be associated with this at all, but I am not sure how to tell them.  Thank you for taking the time to answer this question.  May Allah (swt) reward you.
Time: Friday August 12, 2011 at 12:51 pm
A: ?????? ?????? ????? ???? ???????

May Allah give your parents a long life, ameen.

Option one: Under an ideal condition you would be doing the correct thing to remove yourself from receiving monies from an insurance policy.
Option two: When the money comes to you from the insurance company through inheritance, inquire how much money your parents have placed into it, deduct the halal amount (principal) and distribute the rest in accordance to the religion amongst share holders. The excess (interest amount) can thereafter be given to a poor person or a charity without the intention of reward. If other share holders refuse to give the excess (interest) money to a charitable pathway, that should not be your concern, just focus on getting rid of your haram portion.

Allah Certainly Knows Best.