Life insurance or insurance of one’s possessions is haram in Islam because it involves deceit. For more, see the detailed answer.

Commercial insurance is haram in Islam because it is a form of riba and it is based on gambling and uncertainty. It also consumes people’s wealth unjustly. Co-operative insurance is also haram in Islam. For more, see the detailed answer.

Life insurance is a type of gambling, and thus working in this field is prohibited, and it is forbidden to be a partner in helping people towards sin and enmity.