MCB (Muslim Commercial Bank) Pakistan has started a scheme in which when one will go on hajj via there scheme he/she will be eligible for 4 months of free health (hadsaati) insurance, my question is "is this interest or not"? is this halal? will it affect hajj or not?
Most of scholars without any doubt agree that all tyep of insurance is haram. Every type of action, in which there is gambling or un-certainty involved, it to be avoided. and It is Best not to take any loan/insurance from Bank, as banks work only on interest and interest is haram.
Please follow this ruling: http://islamqa.info/en/8889