New answers tagged money
If someone wishes to urgently make a pledge to the Beis Hamikash and he does not have any money at present, his only option is to pledge an item or a piece of land. If later on he gets some money he has the option to redeem it, which of course he will do if he prefers to keep the item or the piece of land.
Rabbi Moshe Feinstein writes (OC2:111, "to a certain scholar") that it is entirely permissible to purchase life insurance and it indicates no shortage of faith, even for an exceedingly righteous person. (Faith, he writes, is "I will work hard and I believe that G-d will provide me with enough to pay the premiums.") He writes that is, in fact, davar tov ...
there's a story in "A Tzadik in Our Time" (forgot the page) where Rabbi Aryeh Levine was offered life insurance. He answered with a story describing how the heavenly court wanted to take him away but an angel was speaking on his behalf saying what about his wife and children who will be left orphans, etc. and afterwards the prosecutor said "wait! he has life ...
The answer, in short, is that it is allowed, and there's no problem of Ribbis. Basically, Ribbis only applies where the money somehow flows from the borrower back to the lender. It does not matter if there's a third-party involved: if that third-party is being sent by the borrower, Ribbis would still apply. In this case, however, the one paying the Ribbis ...
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