Everdays.com Review

Based on looking at the website, Everdays.com offers life insurance products, specifically Whole Life and Term Life insurance, with a focus on simplifying the application process, often without medical exams and with instant approval available.

While the site presents a streamlined approach to obtaining insurance, it’s crucial to understand the underlying nature of conventional insurance from an ethical standpoint.

Overall Review Summary:

• Website Focus: Life insurance products Whole Life and Term Life.
• Application Process: Emphasizes simplicity, no medical exams, and instant approval.
• Key Selling Points: Coverage for final expenses, debt resolution, lost income, mortgage, and college tuition.
• Ethical Considerations: Conventional insurance, including life insurance, often involves elements of gharar excessive uncertainty and riba interest, making it generally impermissible in Islamic finance. The contractual nature, pooling of funds with potential for interest-bearing investments, and the speculative aspect of payout can conflict with Islamic principles.
• Recommendation: Not recommended for Muslims due to fundamental issues related to riba and gharar in conventional insurance models.

This platform, like other conventional insurance providers, operates on principles that differ significantly from Islamic financial guidelines.

The core issues lie in the concept of interest often embedded in the policy’s structure and the inherent uncertainty involved, which can be seen as a form of gambling.

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While the intent to provide financial security for loved ones is commendable, the methods employed in conventional insurance do not align with Islamic ethical frameworks.

It’s akin to wanting to build a sturdy house but using materials that are known to be unsound.

For those seeking to protect their families and manage end-of-life expenses in a permissible manner, exploring Sharia-compliant alternatives is essential. These alternatives, primarily Takaful Islamic insurance, offer a cooperative and transparent model that avoids riba, gharar, and other prohibited elements, ensuring peace of mind without compromising one’s faith.

Best Alternatives List Ethical & Non-Edible:

• Takaful Emarat
  • Key Features: Sharia-compliant family protection plans, investment-linked policies, health and life Takaful options.
  • Price or Average Price: Varies significantly based on coverage and plan type. generally competitive with conventional insurance but structured differently.
  • Pros: Fully Sharia-compliant, promotes mutual cooperation and risk-sharing, transparent operations, focuses on ethical investments.
  • Cons: Availability may be limited outside of specific regions or require specialized brokers in the US, product offerings might be less diverse than conventional insurance giants.
• Amanah Mutual Funds
  • Key Features: Sharia-compliant investment funds focusing on socially responsible companies, offers various fund types income, growth, balanced. Can be used for long-term savings and wealth management to leave an inheritance.
  • Price or Average Price: Expense ratios and minimum investment requirements apply, typical of mutual funds e.g., 0.5% – 1.5% expense ratio.
  • Pros: Provides a permissible way to invest and grow wealth for future generations, avoids haram industries and interest, promotes ethical investing.
  • Cons: Market volatility risks, not direct insurance, requires active management of funds for specific needs.
• Islamic Relief USA Charitable Donations/Zakat
  • Key Features: Focuses on humanitarian aid, disaster relief, and sustainable development. While not a direct insurance product, regular charitable giving and planning for waqf endowment can create lasting benefits for one’s family and community.
  • Price or Average Price: Varies based on individual capacity and donation frequency. often minimum donation amounts apply for specific campaigns.
  • Pros: Fulfills religious obligations Zakat, Sadaqah, generates continuous reward sadaqah jariyah, supports vulnerable communities, can be part of a broader financial legacy.
  • Cons: Not a direct financial safety net for specific family needs like insurance, requires separate financial planning for family support.
• Zoya App
  • Key Features: A mobile app for Sharia-compliant stock screening and investment analysis. While not an insurance product, it helps individuals invest ethically to build wealth, which can then be used to provide for family or leave an inheritance.
  • Price or Average Price: Free tier with premium subscription options e.g., $10-$20/month.
  • Pros: Empowers individuals to make informed, Sharia-compliant investment decisions, user-friendly interface, helps identify ethical companies.
  • Cons: Requires self-directed investment knowledge, not a direct financial protection mechanism for sudden events, market risks apply.
• Guidance Residential Halal Mortgage Alternatives
  • Key Features: Provides Sharia-compliant home financing, avoiding interest-based mortgages. While not insurance, securing one’s housing needs permissibly is a foundational aspect of financial stability for a family.
  • Price or Average Price: Fees and profit rates apply, structured differently from interest rates.
  • Pros: Allows homeownership without engaging in riba, provides stable housing for families, adheres to Islamic financial principles.
  • Cons: Availability may be limited to specific states or lenders, may have different qualification criteria than conventional mortgages.
• Islamic Wills USA
  • Key Features: Specializes in drafting Sharia-compliant wills and estate planning documents. This ensures assets are distributed according to Islamic inheritance laws, providing clarity and fairness for beneficiaries.
  • Price or Average Price: Varies by service complexity, typically flat fees for will drafting e.g., $300-$1000+.
  • Pros: Ensures ethical and lawful distribution of assets, prevents family disputes, adheres to Islamic inheritance guidelines, provides comprehensive estate planning.
  • Cons: Not a direct financial protection mechanism for sudden loss of income, focuses on post-mortem asset distribution.
• Halal Investing Guides & Resources
  • Key Features: A broad category encompassing books and online resources that educate on permissible financial planning, investment strategies, and wealth management from an Islamic perspective.
  • Price or Average Price: Varies from free online articles to books costing $10-$50.
  • Pros: Empowers individuals with knowledge to build a secure financial future ethically, covers a wide range of topics from savings to investments.
  • Cons: Requires self-education and discipline, not a specific product but a knowledge base to guide financial decisions.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Everdays.com Review & First Look: A Conventional Approach to Life Insurance

Based on a thorough review of its website, Everdays.com positions itself as a streamlined platform for acquiring life insurance. Their core offerings revolve around Whole Life Insurance and Term Life Insurance, promising a simplified process with notable benefits like “no medical exams and instant approval available.” The site emphasizes ease of access, highlighting a three-step journey from learning options to expert consultation and swift approval. For consumers seeking quick and hassle-free access to life insurance, this approach might seem appealing. However, from an Islamic financial perspective, the very foundation of conventional insurance—including the types offered by Everdays.com—raises significant concerns due to its inherent involvement with riba interest and gharar excessive uncertainty.

The Mechanics of Conventional Insurance and Its Islamic Rulings

Conventional insurance, whether it’s life, health, or property, operates on a system where premiums are collected from many policyholders into a common fund.

This fund is then invested, often in interest-bearing assets, to generate returns that cover claims and operational costs.

The fundamental issues from an Islamic standpoint include:

• Riba Interest: A core tenet of Islamic finance is the prohibition of riba, which encompasses any predetermined excess or interest charged on a loan or gained through financial transactions without legitimate trade. In conventional insurance, the investment of premiums, the calculation of cash values in whole life policies, and the way claims are often settled can involve interest. This makes it challenging to align with Islamic principles. For instance, in many whole life policies, a portion of the premium goes into a savings component that accumulates cash value, often linked to interest.
• Gharar Excessive Uncertainty: Islamic contracts must be clear and free from excessive uncertainty. In conventional insurance, the policyholder pays premiums, but the payout is conditional on an uncertain future event e.g., death, illness. This element of gharar means that one party’s gain is contingent on another’s loss or an unpredictable event, which can be seen as akin to gambling, a practice explicitly forbidden in Islam. The exact timing and amount of payout for a given premium payment are not known, leading to an imbalance in the exchange. A report by the Islamic Finance Council UK IFC often highlights that conventional insurance models struggle with this concept of gharar, as the outcome is not guaranteed for all participants in a fair, predetermined way.
• Maysir Gambling: The speculative nature of conventional insurance, where a small premium is paid in the hope of a large payout upon an uncertain event, can also be categorized as maysir. It’s a game of chance where one party benefits at the expense of another’s loss, or where both parties are engaging in an uncertain transaction.

These core issues lead to the conclusion that while conventional life insurance might offer perceived financial security, it does so through means that are not permissible under Islamic law. Globalcoin-assets.com Review

The goal of financial protection for one’s family is highly encouraged in Islam, but the method must adhere to ethical guidelines.

Everdays.com Features: What They Offer and Why It Matters Ethically

Everdays.com primarily offers two types of life insurance: Whole Life Insurance and Term Life Insurance. Each comes with specific features designed to attract different customer segments, promising coverage for various financial eventualities. While these features might appear beneficial on the surface, their underlying structure is where the ethical conflict arises for Muslims.

Whole Life Insurance: A Deeper Look at its Islamic Implications

Everdays.com describes Whole Life Insurance as providing “up to $100k in lifelong protection for end-of-life expenses like funeral costs, debt resolution and modest inheritances for your loved ones.” The key aspect here is “lifelong protection” and the accumulation of a “cash value.”

• Cash Value Accumulation: A significant feature of Whole Life insurance is its cash value component, which grows over time on a tax-deferred basis. This growth is typically linked to a guaranteed interest rate. For example, if a policy guarantees a 3% annual interest, this guaranteed return is problematic from an Islamic perspective due to the presence of riba. Data from the American Council of Life Insurers ACLI indicates that whole life policies are often marketed on their cash value growth and loan options, both of which generally involve interest.
• Fixed Premiums and Lifelong Coverage: While the fixed premiums and lifelong coverage offer predictability, the fundamental issue of riba in the cash value component and the gharar in the overall contract remain. The “modest inheritances” aspect, while noble in intent, is facilitated through a mechanism that is not Sharia-compliant.
• Loan Against Cash Value: Policyholders can often borrow against the cash value of a whole life policy. These loans typically accrue interest, which is another direct violation of riba principles. For example, a policyholder might borrow $10,000 against their policy, incurring a 5% interest rate. This structured interest payment makes the transaction impermissible.

Term Life Insurance: Examining the Contingent Nature

Everdays.com describes Term Life Insurance as providing “up to $2 million in protection for your family if the unforeseen happens to you.

This policy can be used to cover lost income, mortgage expenses, college tuition and more.” This type of insurance provides coverage for a specific period a “term”, and unlike whole life, it typically does not build cash value. Medidentsupplies.com Review

• Contingent Payout and Gharar: The primary issue with Term Life insurance from an Islamic perspective is the element of gharar. The payout is contingent on a specific event death occurring within a defined term. If the policyholder survives the term, no payout is made, and the premiums paid are “lost.” This uncertainty regarding the return on the premiums paid makes the contract resemble maysir gambling and involves gharar. The policyholder pays premiums for a promise that may or may not materialize, which is not aligned with Islamic transactional ethics.
• No Cash Value but Still Impermissible: While Term Life policies typically do not have a cash value component that accumulates interest, the fundamental issue of gharar remains. The nature of the contract, where premiums are paid without a guaranteed return or a clear exchange of value, is problematic. For instance, a 2023 report by Limra found that over 38% of American households have life insurance, with term insurance being a popular choice due to its affordability. However, popularity does not equate to permissibility in Islamic law.

Digital Process and Instant Approval: Efficiency vs. Ethical Compliance

Everdays.com highlights a “100% digital” process and the possibility of “instant approval, no exams.” While this offers convenience and efficiency, it does not mitigate the underlying ethical issues.

The quick process merely streamlines access to a product that is fundamentally non-compliant from an Islamic standpoint.

The speed of transaction doesn’t change the nature of the contract.

Everdays.com Pros & Cons: An Imbalance for the Ethical Consumer

When evaluating Everdays.com, conventional benefits might appear attractive, but for a consumer prioritizing Islamic ethical guidelines, the cons heavily outweigh any perceived pros.

The very structure of the product renders it largely unsuitable. Dreamishdigitizing.com Review

Conventional “Pros” Not Islamic Pros

• Simplified Application Process: The website highlights “3 easy steps” and a “100% digital” process. This can be appealing to those who dread lengthy paperwork and medical examinations.
• No Medical Exams Required for Many Policies: Everdays.com claims “no medical exams and instant approval available,” stating that “90% do qualify.” This removes a common barrier for many potential policyholders, making access quicker.
• Convenience and Speed: The promise of knowing “within minutes whether you qualify” and the ability to “talk to an agent” or “live chat now” offers a high degree of accessibility and immediate assistance.
• Coverage Options: Offering both Whole Life and Term Life insurance provides flexibility for different financial needs and time horizons.
• Financial Protection: From a purely secular perspective, these policies offer financial security for beneficiaries in the event of the policyholder’s death, covering expenses like funeral costs, debt, or providing income replacement.

Overwhelming Cons from an Islamic Ethical Perspective

• Involvement of Riba Interest: The most significant drawback. Conventional life insurance, particularly whole life policies, incorporates interest in its cash value accumulation and investment practices. Even term life policies, while not having a cash value, are managed by companies that engage in interest-based investments. This makes them impermissible for Muslims.
• Presence of Gharar Excessive Uncertainty and Maysir Gambling: The contractual nature of conventional insurance, where a payout is contingent on an uncertain event death and premiums may be “lost” if the event doesn’t occur within a term, introduces excessive uncertainty and a speculative element akin to gambling. This is explicitly prohibited in Islam.
• Lack of Sharia Compliance: Everdays.com, like other conventional insurers, does not market its products as Sharia-compliant, nor does its operational model align with Islamic financial principles. There’s no mention of a Sharia board, ethical investment screens, or a cooperative risk-sharing model.
• Limited Ethical Choice: For Muslims, the lack of a permissible option on this platform means it fails to meet a fundamental requirement for financial transactions.
• Potential for Debt for Policy Loans: While the ability to borrow against a whole life policy’s cash value might seem like a benefit, these loans accrue interest, leading to interest-based debt, which is strictly prohibited in Islam.

In summary, while Everdays.com might offer a user-friendly experience for conventional insurance, its foundational principles are in direct conflict with Islamic ethical finance. For a Muslim consumer, the “cons” related to riba, gharar, and overall Sharia non-compliance render the platform unsuitable, regardless of its operational efficiency.

Everdays.com Alternatives: Sharia-Compliant Pathways to Protection

Given the ethical concerns surrounding conventional insurance like that offered by Everdays.com, it becomes imperative for Muslims to explore Sharia-compliant alternatives. These alternatives are built on principles of mutual cooperation, transparency, and the avoidance of riba interest and gharar excessive uncertainty. The primary and most direct alternative is Takaful.

Takaful: The Islamic Insurance Model

Takaful is a cooperative system of insurance where participants contribute to a common fund, and these contributions are used to pay claims for members who suffer specified losses.

It is based on the principles of mutual assistance and shared responsibility.

• Key Principles of Takaful: Beintl.com.hk Review

  • Cooperation Ta’awun: Participants mutually agree to help each other in times of need.
  • Tabarru’ Donation/Gift: Contributions are made as donations, not as premiums for a commercial contract. This avoids the element of gharar inherent in conventional insurance, as the contribution is a gift for mutual aid, not a speculative payment for a future benefit.
  • No Riba: Takaful funds are invested in Sharia-compliant assets, avoiding interest-bearing instruments. This ensures that the growth of the fund is from permissible sources. A 2022 report by the Islamic Financial Services Board IFSB indicated that global Takaful assets reached over $300 billion, reflecting its growing prominence as an ethical alternative.
  • Separation of Funds: Participants’ funds are kept separate from the operator’s funds, ensuring transparency and accountability. Any surplus in the Takaful fund can be distributed back to participants as a refund or dividend or carried forward, further emphasizing the cooperative model.
  • Sharia Supervisory Board: All Takaful operations are overseen by an independent Sharia Supervisory Board to ensure compliance with Islamic principles.

• Types of Takaful:

  • Family Takaful: Analogous to life insurance, providing coverage for death or disability, often with an investment component managed on Sharia principles.
  • General Takaful: Covers general risks like property, motor, and health, similar to conventional general insurance.

Other Permissible Financial Strategies for Protection

While Takaful is the direct Islamic alternative to insurance, other strategies can be employed to build financial security and leave a legacy for one’s family without resorting to impermissible transactions.

• Saving and Investment in Halal Assets:
  • Direct Investment: Regularly saving and investing in Sharia-compliant stocks, real estate, or businesses. This builds personal wealth that can be used to cover future expenses, including end-of-life costs, and provide an inheritance.
  • Halal Mutual Funds: Investing in mutual funds that only invest in companies deemed Sharia-compliant and avoid riba. Companies like Amana Mutual Funds offer such options.
  • Physical Gold and Silver: Historically, gold and silver have been stable stores of wealth and are permissible to own. Accumulating these can serve as a form of financial security.
• Waqf Endowment and Sadaqah Jariyah Ongoing Charity:
  • Waqf: Establishing an endowment where assets are dedicated for charitable or family purposes. The principal is held in perpetuity, and its income or benefits are used for the designated purpose. This can secure a long-term benefit for descendants or a specific community.
  • Sadaqah Jariyah: Engaging in ongoing charity, such as building a well, supporting an orphanage, or investing in educational initiatives. While not direct financial protection for one’s immediate family in the same way insurance is, it provides immense spiritual benefit and can attract blessings barakah in one’s life and wealth, indirectly contributing to family well-being.
• Writing an Islamic Will Wasiyah:
  • Drafting a Sharia-compliant will ensures that one’s assets are distributed according to Islamic inheritance laws upon death. This minimizes disputes and ensures fairness, providing a clear framework for family security. Platforms like Islamic Wills USA specialize in this.

By focusing on these ethical alternatives, Muslims can achieve financial protection and wealth management goals while staying true to their faith, fostering a sense of community, and ensuring their financial dealings are blessed.

How to Avoid Everdays.com and Similar Platforms: Understanding the Risks

For a Muslim consumer, the primary “risk” associated with Everdays.com and other conventional insurance platforms is engaging in transactions that are fundamentally non-compliant with Islamic principles.

This isn’t about the operational efficiency or customer service of the platform, but rather the intrinsic nature of the product itself. Nba2kmtp.com Review

Avoiding these platforms involves understanding the impermissibility and actively seeking out Sharia-compliant alternatives.

Identifying Impermissible Elements in Financial Products

The first step in avoiding non-compliant platforms is to develop a keen eye for the underlying mechanisms of financial products.

• Interest Riba: If a product promises a guaranteed return on investment, or if loans are involved with interest payments, it’s a red flag. For instance, if Everdays.com’s whole life policy guaranteed a minimum cash value growth rate, that’s almost certainly interest-based. A Fatwa from the Fiqh Council of North America explicitly prohibits conventional insurance due to the presence of riba and gharar.
• Excessive Uncertainty Gharar and Speculation Maysir: If the contract involves a significant degree of uncertainty regarding the outcome, or if it resembles a game of chance, it falls under gharar or maysir. Term life insurance, where premiums are paid with no return unless a specific uncertain event occurs, is a prime example. You’re essentially betting on an event.
• Lack of Transparency: Islamic finance emphasizes transparency. If the terms and conditions are overly complex or opaque, making it difficult to understand the true nature of the transaction, it should raise concerns.
• Investment in Haram Industries: Even if the direct product seems borderline, if the underlying investments of the company are in prohibited industries e.g., alcohol, gambling, conventional banking, pornography, then supporting such a company becomes problematic. While Everdays.com doesn’t explicitly state its investment portfolio on the homepage, conventional insurance companies typically invest broadly, often including interest-bearing instruments.

Practical Steps to Avoid Non-Compliant Platforms

• Prioritize Sharia-Compliance: Make Sharia-compliance the non-negotiable first criterion when evaluating any financial product or service. Do not be swayed by convenience, low prices, or perceived benefits if the core structure is impermissible.
• Seek Islamic Financial Advisors: Consult with qualified Islamic financial advisors who specialize in Sharia-compliant wealth management, insurance Takaful, and investment. They can guide you through the permissible options tailored to your specific needs. The AAOIFI Accounting and Auditing Organization for Islamic Financial Institutions provides global standards for Islamic finance, and advisors certified in these standards are invaluable.
• Research Takaful Providers: Actively search for and engage with Takaful companies. While Takaful might not be as widespread as conventional insurance in every region, its presence is growing globally. Look for Takaful providers licensed in your country or region.
• Self-Education: Invest time in understanding basic Islamic financial principles. Resources like books on Islamic finance, reputable online courses, and seminars can empower you to make informed decisions.
• Build a Halal Financial Portfolio: Instead of relying on conventional insurance for all needs, build a diverse halal financial portfolio that includes savings, ethical investments, and strategic charitable giving. This holistic approach can provide a more robust and permissible safety net.

Everdays.com Pricing: Understanding the Cost of Impermissibility

Everdays.com does not display specific pricing details directly on its homepage.

Instead, it prompts users to “Simply fill out the form below, and one of our experts will reach out to create a policy tailored to your needs.” This is a common practice for insurance providers, as premiums are highly individualized based on factors such as age, health, coverage amount, and policy type Whole Life vs. Term Life.

How Conventional Insurance Pricing Works

Typically, insurance premiums are calculated based on actuarial data, which assesses the probability of a claim occurring. Divewithimed.com Review

• Age: Older individuals generally pay higher premiums for life insurance due to increased mortality risk.
• Health: Pre-existing conditions or poor health indicators will result in higher premiums or even denial of coverage. Everdays.com’s “no medical exams” feature might indicate a simplified underwriting process, which could mean slightly higher base premiums for some, or perhaps stricter initial qualification questions to offset the lack of medical data.
• Coverage Amount: The higher the death benefit e.g., $100k vs. $2 million, the higher the premium.
• Policy Type: Whole Life insurance, due to its cash value component and lifelong coverage, typically has significantly higher premiums than Term Life insurance for the same death benefit.
• Term Length for Term Life: Longer terms e.g., 20 or 30 years generally have higher premiums than shorter terms e.g., 10 years.

The Ethical Lens on “Pricing”

While Everdays.com’s pricing might be competitive in the conventional market, the concept of paying for a product that is ethically impermissible presents a profound concern for Muslims. The “cost” isn’t just the monetary premium. it’s the spiritual and ethical compromise.

• The Cost of Riba and Gharar: Every dollar paid towards a conventional insurance premium implicitly supports a system that involves riba and gharar. This “cost” transcends mere financial value and touches upon one’s religious integrity. For example, a monthly premium of $50, over 20 years, amounts to $12,000 paid into a non-compliant system.
• Lack of Barakah Blessing: Engaging in financial transactions that are not Sharia-compliant can, in Islamic belief, diminish barakah in one’s wealth. While the policy might provide a financial payout, the overall blessing in that wealth or the means of acquiring it might be compromised.
• Lost Opportunity for Permissible Growth: Money spent on impermissible insurance could instead be invested in Sharia-compliant ventures e.g., halal stocks, real estate, Takaful contributions that not only provide financial security but also spiritual reward. If that $50/month was invested in a diversified halal mutual fund with a modest 7% annual return, it could accumulate significantly over the long term.

Pricing Transparency vs. Ethical Transparency

Everdays.com’s approach to pricing—requiring personal contact—is standard for the industry.

However, the greater lack of transparency lies in its ethical alignment.

The website does not provide any information about its Sharia compliance, which is the “price” that Muslim consumers are implicitly paying by engaging with such a platform.

For Muslims, the conversation about “pricing” for insurance should begin not with dollar figures, but with fundamental ethical permissibility. Wellsseptictank.com Review

If a product is fundamentally impermissible, any price, no matter how low or convenient, is too high.

Everdays.com vs. Takaful: A Fundamental Contrast

Comparing Everdays.com with Takaful is not merely a feature-by-feature comparison, but rather a fundamental contrast in underlying principles and ethical frameworks.

Everdays.com represents the conventional, interest-based insurance model, while Takaful embodies a cooperative, Sharia-compliant approach to financial protection.

Understanding this distinction is crucial for Muslims seeking ethical financial solutions.

Foundational Principles

• Everdays.com Conventional Insurance:
  • Risk Transfer: The core concept is risk transfer from the individual to the insurance company. The policyholder pays a premium, and the company assumes the risk of a financial loss.
  • Commercial Contract: It’s a commercial transaction where the company sells a service protection for a price premium, with a profit motive.
  • Riba Interest: Involves interest in investment of premiums, cash value accumulation, and loans against policies.
  • Gharar & Maysir: Contains excessive uncertainty and elements akin to gambling due to the contingent payout and “lost” premiums if no claim arises.
  • Ownership: Premiums become the property of the insurance company.
• Takaful:
  • Mutual Cooperation Ta’awun: Based on the principle of participants helping each other.
  • Tabarru’ Donation: Contributions are made as donations to a common fund, not as payment for a service. This eliminates gharar.
  • Sharia-Compliant Investments: Funds are invested only in permissible assets, avoiding riba.
  • Transparency & Fairness: Surplus from the Takaful fund can be distributed back to participants. Operations are overseen by a Sharia Supervisory Board.
  • Ownership: The Takaful fund belongs to the participants, not the operator.

Operational Model

*   Underwriting: Assesses individual risk and charges premiums based on actuarial calculations.
*   Profit Motive: The company aims to maximize profit for its shareholders.
*   Investment Strategy: Investments often include interest-bearing bonds, stocks, and other conventional financial instruments.
*   Claims Process: Claims are paid out from the company's pooled funds, which include investment returns.
*   Risk Sharing: Participants collectively bear the risk. Contributions cover potential claims.
*   Wakala/Mudarabah Model: Takaful operators act either as an agent *wakala* for a fee or as a partner *mudarabah* sharing in profits and sometimes losses from the investment of the Takaful fund.
*   Ethical Investment: Funds are invested according to Islamic principles e.g., avoiding haram industries, interest-free instruments.
*   Surplus Distribution: Any surplus in the fund after paying claims and operational costs can be shared among participants, reinforcing the cooperative nature.

Customer Benefits Ethical vs. Conventional

*   Financial Protection: Provides a financial payout upon specified events.
*   Convenience: Often offers quick, digital application processes.
*   Cash Value Whole Life: Builds a cash value that can be borrowed against.
*   Sharia-Compliant Protection: Offers peace of mind knowing the financial arrangement is permissible.
*   Mutual Aid: Fosters a sense of community and collective responsibility.
*   Ethical Investment: Participants' contributions are invested ethically, aligning with their values.
*   Potential Surplus Sharing: Participants may receive a share of any fund surplus.

In essence, while both Everdays.com and Takaful aim to provide financial protection, their methods diverge fundamentally. Spankbanglive.com Review

Everdays.com operates within a framework that relies on elements prohibited in Islam, whereas Takaful is meticulously designed to adhere to Islamic economic principles, making it the only permissible choice for Muslims seeking insurance.

How to Cancel Everdays.com Subscription / Policy: Steps and Ethical Considerations

While Everdays.com doesn’t offer a “subscription” in the typical sense of a recurring membership for content, it sells insurance policies which involve recurring premium payments. For a Muslim, canceling such a policy, if one has inadvertently entered into it, is a necessary step to disengage from an impermissible financial transaction. The process generally involves contacting the provider directly.

General Steps to Cancel an Insurance Policy

Most insurance cancellations follow a similar pattern.

Based on the Everdays.com website, here’s what you might expect:

1. Review Your Policy Documents: Before you do anything, locate your policy documents. These will outline the specific terms and conditions for cancellation, including any penalties, refund policies, or required notice periods. Glowingflames.com Review

2. Contact Everdays.com Directly: The Everdays.com website provides clear contact information:

   • Call: 877-613-5580 Monday – Friday, 8:00 am – 6:00 pm ET
   • Email: [email protected] or [email protected] as listed in one link
   • Live Chat: Available on the website.

   It’s usually best to start with a phone call, as it allows for immediate clarification and can often expedite the process.

3. State Your Intent Clearly: Inform the representative that you wish to cancel your life insurance policy. Be prepared to provide your policy number and personal identification details.

4. Confirm Effective Date of Cancellation: Ask for the exact date your policy will be canceled. This is crucial for understanding when your financial obligation ends.

5. Inquire About Refunds: If you’ve paid premiums in advance or if the policy has a cash value for Whole Life, ask about any potential refunds. Note that for Term Life, typically no refunds are issued for premiums paid, as the coverage was provided for the period. For Whole Life, the surrender value cash value minus any fees or outstanding loans would be returned. 1garden.com Review

6. Request Written Confirmation: Always request a written confirmation of your policy cancellation via email or postal mail. This document serves as proof that your policy has been terminated.

7. Cease Premium Payments: Once you have confirmed the cancellation, ensure that any automatic premium payments are stopped. Double-check your bank statements or credit card bills to confirm that no further deductions are made.

Ethical Considerations for Cancellation for Muslims

For a Muslim, canceling an impermissible insurance policy is not just a financial decision but also a religious imperative.

• Minimizing Engagement with Riba/Gharar: The act of canceling signifies a commitment to disengaging from transactions tainted by riba interest and gharar excessive uncertainty. Even if it means losing some premiums paid for term insurance, the spiritual benefit of purifying one’s financial dealings is paramount.
• No Regret Over “Lost” Premiums Term Life: For term life insurance, if no claim was made and the policy is canceled, the premiums paid are typically not refunded. From an Islamic perspective, viewing these as “lost” is less relevant than the benefit of discontinuing an impermissible contract. The financial loss, if any, is part of rectifying the initial impermissible engagement.
• Handling Cash Value Whole Life: If canceling a whole life policy that has accumulated cash value, the amount received surrender value should be carefully reviewed. If any portion of this cash value is clearly attributable to riba e.g., guaranteed interest components above the principal paid, it should be purified by donating it to charity. However, often the exact riba component is hard to isolate from the principal paid and the overall investment returns. Consulting a knowledgeable Islamic scholar on how to handle such funds is advisable.
• Seeking Permissible Alternatives Immediately: The cancellation process should ideally be coupled with actively seeking and establishing a Sharia-compliant alternative, such as Family Takaful, to ensure continued financial protection for one’s dependents in a permissible manner.

By proactively canceling conventional insurance and transitioning to ethical alternatives, a Muslim fulfills their religious obligation and ensures their financial arrangements align with the principles of their faith.

How to Cancel Everdays.com Free Trial: A General Guide and Ethical Context

Everdays.com does not explicitly mention a “free trial” for their insurance products in the typical software-as-a-service sense. Gdprdefender.com Review

Insurance policies are typically purchased directly, although some introductory offers or simplified initial applications might exist.

If one were to interpret “free trial” as a very initial, low-commitment inquiry process or a very short-term policy that could be canceled without significant penalty, the principles remain the same for disengaging.

General Steps to Disengage from an Initial Insurance Inquiry/Policy

If you’ve filled out a form or started an application that feels like a “trial” or initial setup with Everdays.com and wish to retract or cancel before committing, here’s how you’d typically proceed:

1. Identify Your Engagement Level:
   • Inquiry Form: If you’ve just filled out the “Just a few details to get you started” form, you likely haven’t committed to anything. Your primary concern would be stopping unwanted calls or emails.
   • Application Started/Policy Issued: If you’ve gone further and an actual policy has been issued, even on a short-term or introductory basis, you’d be canceling a policy.
2. Contact Everdays.com Directly: Use the contact information provided on their website. This is the most direct way to communicate your intent.
   • Call: 877-613-5580
   • Email: [email protected]
   • Live Chat: On their website.
3. Clearly State Your Request:
   • If it’s an inquiry, state that you no longer wish to be contacted and want any submitted information removed if possible, though data retention policies vary.
   • If a policy was issued, state your intention to cancel the policy immediately. Mention if you are within any “free look” period, which is a regulatory period e.g., 10-30 days during which you can cancel a new policy for a full refund without penalty.
4. Confirm No Financial Obligation: Ensure that by disengaging, you will not incur any charges or further obligations. Request confirmation of this.
5. Request Written Confirmation: Always ask for written confirmation of your request and its outcome, whether it’s stopping contact or policy cancellation.

Ethical Context for Muslims

For a Muslim, even a “free trial” or initial engagement with an impermissible financial product carries a degree of ethical weight.

• Swift Disengagement: The principle is to disengage as swiftly as possible once the impermissible nature of the transaction is understood. Delaying cancellation means prolonging involvement in an un-Islamic contract.
• No Harm from “Trial”: If no financial transaction has occurred, and it truly was a “free” inquiry, then there’s no financial impurity to rectify. However, the intent to participate in a non-compliant system should be rectified by seeking knowledge and avoiding such engagements in the future.
• Preventing Future Temptation: Canceling any form of “trial” or initial contact helps prevent further marketing and temptation to engage in products that are not permissible. It’s a proactive step in maintaining one’s financial integrity.
• Shift to Permissible Alternatives: Use the moment of disengagement as a catalyst to actively research and adopt Sharia-compliant financial solutions, such as Takaful, for your protection needs. This transforms a negative avoiding the impermissible into a positive embracing the permissible.

In essence, while Everdays.com might not offer a traditional “free trial” for insurance, the principle of immediate and clear disengagement from any potentially impermissible financial arrangement is critical for a Muslim. Doucuji.eu Review

FAQ

What is Everdays.com?

Everdays.com is an online platform that offers conventional life insurance products, specifically Whole Life Insurance and Term Life Insurance, with a focus on a simplified, digital application process and often without the need for medical exams.

Is Everdays.com suitable for Muslims?

No, Everdays.com, like other conventional insurance providers, is generally not suitable for Muslims due to its inherent involvement with riba interest and gharar excessive uncertainty, which are prohibited in Islamic finance.

What are the main types of insurance offered by Everdays.com?

Everdays.com offers Whole Life Insurance, which provides lifelong coverage and typically builds cash value, and Term Life Insurance, which offers coverage for a specific period without cash value accumulation.

Why is conventional life insurance considered impermissible in Islam?

Conventional life insurance is considered impermissible in Islam due to the presence of riba interest in its investment and cash value components, and gharar excessive uncertainty and maysir gambling in its contractual nature, where payouts are contingent on uncertain events.

Does Everdays.com require medical exams?

Everdays.com states that their process often allows for “no medical exams and instant approval available,” with 90% of applicants qualifying. Kiwipapers.com Review

What is the “cash value” feature in Whole Life insurance, and why is it problematic for Muslims?

Cash value is a savings component in Whole Life insurance that grows over time, often at a guaranteed interest rate. This interest accumulation riba makes the policy problematic from an Islamic perspective, as riba is prohibited.

What is the issue with Term Life insurance from an Islamic perspective?

The main issue with Term Life insurance is gharar excessive uncertainty and maysir gambling. Premiums are paid, but a payout only occurs if an uncertain event death happens within the specified term. If the policyholder survives the term, the premiums are “lost,” creating an imbalance in the exchange.

What are the ethical alternatives to Everdays.com for Muslims?

The primary ethical alternative is Takaful Islamic insurance, a cooperative system based on mutual assistance and shared responsibility, avoiding riba and gharar. Other alternatives include saving and investing in halal assets, establishing Waqf endowments, and creating an Islamic will.

How does Takaful differ from conventional insurance?

Takaful operates on principles of ta’awun cooperation and tabarru’ donation, where participants contribute to a common fund. Funds are invested ethically, avoiding riba, and any surplus can be shared among participants, unlike conventional insurance which is a commercial contract with profit as the primary motive.

Can I cancel a policy with Everdays.com?

Yes, you can cancel a policy with Everdays.com by contacting their customer service via phone, email, or live chat. Inventurex.com Review

It’s recommended to review your policy documents first and request written confirmation of cancellation.

Is there a “free trial” for Everdays.com policies?

Everdays.com does not explicitly advertise a “free trial” for its insurance policies in the traditional sense.

Insurance policies are typically purchased directly, though initial inquiries or application processes might exist.

What should I do if I have inadvertently purchased a policy from Everdays.com?

If you are a Muslim and have purchased a policy from Everdays.com, it is advisable to cancel it as soon as possible to disengage from an impermissible transaction.

Concurrently, seek out and transition to a Sharia-compliant alternative like Takaful. Lockteclocksmiths.ie Review

What is the importance of a Sharia Supervisory Board in Takaful?

A Sharia Supervisory Board SSB is crucial in Takaful as it provides independent oversight to ensure that all operations, products, and investments of the Takaful operator adhere strictly to Islamic principles and rulings.

Are there any financial risks associated with Takaful?

While Takaful is ethically compliant, like any financial product involving investments, there can be market risks associated with the underlying assets of the Takaful fund.

However, these investments are managed in a Sharia-compliant manner.

How do I find a Takaful provider in the United States?

Finding a Takaful provider in the U.S.

May require specific research, as they are less common than conventional insurers.

You can search online for “Islamic insurance USA” or “Takaful companies in America,” or consult with Islamic financial advisors.

What is the role of Tabarru’ in Takaful?

Tabarru’ is the act of donating contributions to the Takaful fund. This charitable intent changes the nature of the contract from a speculative commercial exchange to a mutual aid agreement, thereby avoiding the gharar and maysir present in conventional insurance.

Does Everdays.com disclose its investment practices?

Everdays.com’s homepage does not explicitly disclose its investment practices.

However, as a conventional insurer, it is highly likely that their investments include interest-bearing instruments and may not adhere to Sharia-compliant screens.

Can I use the money received from canceling a conventional life insurance policy?

If you cancel a conventional life insurance policy, especially a whole life policy with a cash value, you will receive a surrender value. If any portion of this is clearly identified as riba interest above the principal paid, it should be purified by donating it to charity. Consulting a scholar for guidance is recommended.

What is the significance of “200B in total assets backing your policy” mentioned by Everdays.com?

This figure indicates the financial strength and backing from the “top rated insurers” that underwrite Everdays.com’s policies.

While it signifies financial security in the conventional sense, it does not address the ethical permissibility of the underlying insurance model for Muslims.

How can proper estate planning with an Islamic will serve as a form of “protection”?

An Islamic will ensures that your assets are distributed according to Sharia inheritance laws after your passing.

This provides clarity, prevents disputes among heirs, and ensures that your wealth is handled in a permissible way, offering a structured form of protection for your beneficiaries.