How to calculate Zakat on Insurance
Conventional insurance : Zakat is 2.5% of the surrender value at the end of the year when Haul and Nisab are reached.
How to Calculate Zakat on Insurance
Step 1
Find out the Nisab value (minimum value required for Zakat) for the period. You may refer to our Home Page for an updated value.
Step 2
Ask for your current insurance statement from your insurance agent.
Step 3
Determine the start date of the insurance plan and the date when Nisab is reached.
Step 4
Find out the surrender value from your insurance statement or insurance agent when Nisab is reached.
Step 5
Your Zakat Insurance is surrender value ($) x 2.5%
Step 1
Find out the Nisab value (minimum value required for Zakat) for the period. You may refer to our Home Page for an updated value.
Step 2
Ask for your current insurance statement from your insurance agent.
Step 3
Determine the start date of the insurance plan and the date when Nisab is reached.
Step 4
Find out the surrender value from your insurance statement or insurance agent when Nisab is reached.
Step 5
Your Zakat Insurance is surrender value ($) x 2.5%
