Sharia-Compliant Life Insurance in France
Hello everyone,
I’d like to get your opinion on two life insurance investment offers in France, with the goal of staying as compliant as possible with Islamic finance principles.
This would also be my very first investment, and I honestly don’t know much about investing yet, which makes the decision even harder for me.
I’m 27 years old, married, currently working, and we don’t have children for now.
• Option 1: a non-Islamic advisory firm that still makes an effort to research and propose what they consider Sharia-compliant investments, but without any official certification. I showed their proposal to a family member who holds a PhD in Islamic finance, and they considered it compliant from a Sharia perspective.
Fees: 1% entry fee + 1% insurer fee.
• Option 2: a verified Islamic advisory firm offering certified Sharia-compliant solutions (PERENYS)
Fees: 4.5% entry fee + 1.08% insurer fee.
I’m torn between:
- much lower fees but no formal certification,
- or a fully Islamic/verified structure that feels more reassuring religiously, but is significantly more expensive.
How would you evaluate this choice?
Do you think the certification and specialized Islamic guidance justify the higher fees?
Thanks in advance for your insights.