Travel Loan and Insurance Info

Indonesia is a country, where the majority of the population are followers of Islam. However, the development of products with new sharia principles berkembangn approximately 3-4 years ago, one of which is Islamic insurance products pioneered by PT Asuransi Takaful Indonesia, which was founded in 1994.
After that, syariah-based insurance started to be worked by a few companies with the establishment of sharia division. With the continued development of products based on sharia, then we see the importance of introducing an insurance product specifically sharia.
Before going in the principles and mechanisms of these products, many Muslims who think that insurance is haram. Is it true? Join the discussion below

Insurance is not Islamic?
Some Muslims believe that the same insurance and qadar qodlo opposed or contrary to fate. Islam basically admitted that the accident, misfortune and death is the destiny of God. This can not be rejected. It's just that we as humans are also instructed to make plans for the future. Allah says in surah Al-Hashr: 18, which means
"O ye who believe! Bertaqwalah to God and let every soul consider what he has done for tomorrow (future) and bertaqwalah Allah. Sesunguhnya Allah knows what you are doing ". Clearly in this verse we dipertintahkan to plan what we will do for the future.
In the Qur'an, letter Joseph :43-49, God describes the example of man's form of protection systems face the possibility of a bad future. In summary, this verse tells of the question by the Egyptian king neighbor to the Prophet Joseph's dream. Where is the king of Egypt dreamed of seeing seven tails a fat cows eaten by seven skinny cows, and he also saw seven stalks of wheat and seven green fruits are red stems are not dried fruit.
Prophet Joseph in this answer that you raise seven years and the results should be stored in part. Then after that will come seven years of very hard, who spend what you save for menghadapapi hard times tesebut, except a little of what is stored.
Very clear in this verse we are encouraged to try to maintain the continuity of life with the possibility meproteksi bad condition. And the above verse clearly states that do not conflict with berasurnasi destiny, and even suggested the existence of God's efforts toward planning the future with protection sisitem known in the insurance mechanism.
So, if the system or insurance protection is justified, the next question is: whether the insurance as we know now (conventional insurance) meets the other requirements in the concept of Islamic Muamalat. In conventional insurance mechanism, especially life insurance, there are at least three things that are forbidden by the scholars, namely: the element of gharar (explanations lack of funds), the element maisir (gambling / gambling) and riba (interest). These will be described in detail penjelasaan about the difference between conventional and Islamic insurance.

Conventional and Islamic insurance
Islamic insurance and conventional insurance has the same goal of management or risk reduction. The fundamental difference between the two is how the management of conventional risk management of insurance risk transfer from the participants to the insurance companies (risk transfer), while life insurance sharia principles embraced by helping participants to share risk between the life insurance (risk sharing).
Besides differences in the way of risk management, there are differences in how to manage the savings element of insurance products. Management of insurance funds to adopt sharia Islamic investment and free from ribawi elements.
In detail, the differences between Islamic insurance and conventional insurance can be seen in the following sections:

Contract or Covenant
Clarity of contract or covenant in practice the principle of muamalah be valid because it will determine whether or not the sharia. Similarly, the contract between the participants with insurance companies. Apply to conventional insurance contracts in sharia-called sale and purchase contract (tabaduli).
In this contract must meet the terms of the sale contract. Ketidakjelasaan issue premium amount to be paid because it depends on the age of the participants which God only know when we die containing a conventional insurance lead what is called gharar-ketidakjelasaan the covenant contract resulting exchange property in conventional insurance, in practice legally flawed
So that in life insurance contracts used sharia is not a contract but the sale and purchase contract please help (takafuli). Islamic insurance so use what is known as the tabarru contract can be interpreted as charity or donations. This contract is a valid alternative to cash and justified in escaping from the unlawful practice of conventional insurance.
The purpose of the fund tabarru 'is a virtue to provide funds for the purpose of sincere intention to help each other with each other sharia fellow participants if such insurance is affected by the disaster. Therefore tabarru funds 'stored in a khsusus account, where if there is a risk, given the claim funds from the trust fund is tabarru' which was intended by all participants for helping purposes.

Al-Mudharabah contracts
Explanation of the above, the contract tabarru 'is a grant that was allocated when the accident occurred. While elements in the life insurance may also be a savings. In Islamic insurance, savings or investments must comply with sharia.
In this case, the pattern of investment for which the results are characteristic of the insurance company is managing the funds collected from the participants. Technically, al-mudaraba is the covenant of business cooperation between two parties where the first party to provide the entire (100 percent) of capital, while others become managers.
Business profits are divided according to the agreement mudaraba set forth in the contract, whereas if the loss, borne by the owners of capital loss is not due to negligence on the manager. If the losses resulting from fraud or kelalian the manager, the manager will be responsible for the losses.
Disepkati sharing contract in front so that if there is a profit distribution will follow the contract for these results. Suppose the contract for the result is 60:40, where participants get 60 percent of the profits of insurance companies were getting 40 percent of the profits.
In relation to investment, which is one element in insurance premiums, must comply with Islamic law which does not recognize what is commonly referred to as usury. Conventional insurance invest all the funds with interest rate mechanism.
With conventional insurance so hard to avoid usury. While Islamic insurance daolam must keep investing into various investment funds based on Islamic Sharia al-mudaraba system.

Scorched Fund
In the conventional insurance fund known charred, where participants can not continue to pay premiums and wanted to resign before the expiration. Similarly, conventional life insurance Non-saving (no savings element) or insurance losses, if discharged MSA contracts and there is no claim, the insurance premiums paid or become charred insurance company profits.
In Islamic insurance concept, the mechanism does not know the funds expire. New participants who entered though for some reason it wants to resign, then the funds or the premium previously paid can be taken back except a small portion which is intended to fund tabarru 'that can not be retrieved.
Similarly, the general Islamic insurance, if the contract expired and there is no claim, so the company returned some of these premiums to the pattern of results, say 60:40 or 70:30 in accordance with the contract agreement in advance. In this case it is very possible that the premium paid at the beginning of the year can be taken back and the number is very dependent to the level of investment in that year.

Sharia Insurance Benefits
Islamic insurance can be alterntif protection option for the Islamic religion who want the product in accordance with Islamic law. This product can also be an option for followers of other religions who see Islamic concept of justice for them. Sharia is a principle or a system that was the universal nature which can be used by anyone who was interested.
So a quick overview of Islamic insurance. Learn More Islamic Insurance: A Modern Approach to Islamic Banking (Islamic Studies Series)
Source Refer here