Velliv.dk Reviews

Based on looking at the website, Velliv.dk appears to be a Danish pension and insurance company. They emphasize personalized advice, flexible investment options, and support for health and well-being. However, it is crucial to understand that conventional pension schemes and insurance products, as offered by Velliv, typically operate on principles that involve riba interest and gharar excessive uncertainty. From an Islamic perspective, engaging in transactions that involve interest is strictly prohibited, as it is considered exploitative and unjust. Similarly, insurance contracts often contain elements of uncertainty and speculation that are not permissible. While the intention behind saving for retirement and securing health is commendable, the methods employed by conventional financial institutions can be problematic. Therefore, while Velliv.dk aims to provide financial security, Muslims should exercise extreme caution and seek Sharia-compliant alternatives for their financial planning and protection needs.

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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.

Velliv.dk Review & First Look: Navigating Conventional Pensions

Based on checking the website, Velliv.dk positions itself as a customer-owned pension company focused on providing comprehensive pension, health, and well-being solutions primarily for Danish individuals and businesses.

The site highlights its commitment to personalized advice, flexible investment choices, and support for customers’ physical and mental health.

They promote themselves as being 100% customer-owned through Velliv Foreningen, which purportedly offers an annual bonus to members.

Understanding the Velliv.dk Proposition

Velliv.dk’s homepage immediately presents five key reasons to choose them:

• Quick access to health services: They offer assistance for physical treatment, family counseling, quicker diagnosis, and stress management, aiming to support overall well-being.
• Flexible investment: They mention products like “VækstPension Index” with what they claim are low investment costs and strong returns over the past decade. This refers to their investment options for pension savings.
• Personalized advice: They emphasize tailored advice on pensions and insurance to suit individual needs and life stages.
• 100% customer-owned: Being owned by Velliv Foreningen, customers automatically become members, potentially receiving an annual bonus.
• Active social responsibility: They state that social responsibility is a natural part of their daily operations.

The Elephant in the Room: Interest and Uncertainty

While these benefits might seem appealing at first glance, the fundamental structure of conventional pension funds and insurance policies typically involves elements that are not permissible from an Islamic finance perspective. Funnelslayer.com Reviews

• Riba Interest: Pension funds often invest in interest-bearing instruments like bonds, and the calculation of returns or benefits might involve interest. Similarly, conventional insurance premiums often include interest components, and compensation might involve interest-based returns.
• Gharar Excessive Uncertainty: Traditional insurance contracts involve a high degree of uncertainty regarding the occurrence of the insured event, the timing of payment, and the exact amount of compensation. This level of ambiguity can be problematic in Islamic financial dealings.
• Investment in Impermissible Industries: Pension funds might invest in sectors such as alcohol, gambling, conventional banking which deals with interest, or other industries that are not Sharia-compliant.

Velliv.dk Pros & Cons: A Dual Perspective

When evaluating Velliv.dk, it’s important to consider both the perceived benefits within a conventional framework and the significant drawbacks from an Islamic finance standpoint.

Potential Benefits from a Conventional Lens

From a purely secular, conventional perspective, Velliv.dk presents several attractive features:

• Customer Ownership: The 100% customer-owned model via Velliv Foreningen is touted as a unique selling proposition, potentially leading to better customer alignment and an annual bonus. In 2023, Velliv Foreningen announced a bonus of DKK 668 million distributed among its members, averaging DKK 1,300 per customer, which is a tangible benefit in a conventional sense.
• Focus on Well-being: Their emphasis on health and mental well-being services, alongside pension savings, is a holistic approach that many individuals might value. This includes access to physical therapy, counseling, and stress management, which are generally positive services.
• Personalized Advice: The promise of tailored advice for individual pension and insurance needs suggests a customer-centric approach, aiming to optimize financial planning for different life stages.
• Market Performance Claims: Velliv.dk claims “VækstPension Index” has been among the top performers in the market over the last 10 years, which, if true, would be appealing for those seeking strong returns in a conventional setting. For instance, data from their annual reports often highlights competitive returns compared to other Danish pension providers.

Significant Cons from an Islamic Perspective

However, for a Muslim individual, the cons heavily outweigh any conventional benefits due to fundamental religious prohibitions.

• Involvement with Riba Interest: This is the primary and most significant drawback. Any product or service that fundamentally relies on interest, whether in its investment structure or payout mechanisms, is strictly forbidden in Islam. Pension funds and insurance are almost universally built on interest-based principles.
• Gharar Excessive Uncertainty in Insurance: Conventional insurance policies inherently involve a high degree of uncertainty regarding future events and payouts. Islamic finance demands clarity and certainty in contracts, making traditional insurance models problematic.
• Non-Sharia-Compliant Investments: It is highly probable that Velliv.dk’s investment portfolio includes companies and industries that are not Sharia-compliant, such as those involved in alcohol, gambling, conventional finance, or even certain forms of entertainment or media.
• Lack of Ethical Screening: There is no indication on Velliv.dk’s website that their investments undergo any Sharia-compliant screening or ethical filtering beyond general “social responsibility,” which is typically very broad and may not align with Islamic principles.
• No Halal Alternatives Offered: The platform does not offer any Sharia-compliant alternatives for pensions or insurance, leaving no permissible options for Muslim customers.

Velliv.dk Alternatives: Seeking Sharia-Compliant Solutions

Given the concerns surrounding conventional pension and insurance products from an Islamic perspective, it becomes imperative to explore Sharia-compliant alternatives.

These alternatives are designed to adhere to Islamic principles, avoiding interest riba, excessive uncertainty gharar, and investments in prohibited industries. Tagged.com Reviews

Takaful Islamic Insurance

Instead of conventional insurance, Muslims should seek Takaful.

Takaful is a cooperative system of insurance based on the principle of mutual assistance ta’awun and donation tabarru’.

• How it Works: Participants contribute to a fund, and these contributions are used to pay claims of other participants. The fund is managed on a Mudarabah profit-sharing or Wakalah agency basis, where the operator takes a fee or a share of the surplus.
• Key Differences from Conventional Insurance:
  • Cooperative Risk-Sharing: Takaful is about mutual help, not risk transfer from one party to another for a premium.
  • No Riba: Investments made with Takaful funds are Sharia-compliant and free from interest.
  • No Gharar: The contractual relationships are designed to minimize uncertainty.
  • Surplus Distribution: Any surplus in the Takaful fund, after paying claims and managing expenses, is typically distributed back to participants or carried forward for future use. For instance, global Takaful contributions are projected to reach $48 billion by 2025, indicating significant growth and availability of options.
• Types of Takaful:
  • Family Takaful: Similar to life insurance, it provides protection and savings for families.
  • General Takaful: Covers general risks like property, motor, health, and travel.

Halal Investment Funds and Sukuk

For retirement savings, instead of conventional pension funds that invest in interest-bearing instruments, Muslims should look for:

• Sharia-Compliant Investment Funds: These funds invest only in companies and assets that comply with Islamic principles. This means avoiding companies involved in alcohol, gambling, conventional banking, pornography, and other impermissible activities. They also avoid interest-based debt and often screen for specific financial ratios to ensure compliance. The global Islamic finance industry, including Sharia-compliant funds, is estimated to be worth over $4 trillion, with a strong growth trajectory.
• Sukuk Islamic Bonds: Sukuk are Sharia-compliant financial certificates that represent ownership in tangible assets, rather than a debt. Unlike conventional bonds that pay interest, Sukuk generate returns from the underlying asset’s income or profit-sharing arrangements. The global Sukuk market exceeded $700 billion in outstanding value in 2023, offering liquid and diverse investment opportunities.
• Direct Equity Investments: For those comfortable with managing their own investments, directly investing in Sharia-compliant stocks is an option. This requires thorough screening of companies to ensure their operations and financial structure adhere to Islamic principles.

Ethical Savings and Investments

Beyond explicit Islamic finance products, consider general ethical investment options, but always with a vigilant eye on Sharia compliance:

• ESG Funds Environmental, Social, Governance: While not inherently Sharia-compliant, some ESG funds may align with certain Islamic values by avoiding harmful industries. However, a Muslim must still verify that these funds do not include interest-bearing assets or invest in explicitly haram activities.
• Waqf Endowment Funds: Historically, Waqf has been used for various charitable and social purposes. Modern applications can include investment funds that generate income for community benefit, adhering to Sharia principles in their investment strategies.

When seeking alternatives, it’s crucial to consult with qualified Islamic finance scholars or institutions to ensure the products and services genuinely adhere to Sharia principles and are not merely “Islamic-sounding” while still containing impermissible elements. Thomsonremovals.co.uk Reviews

Understanding the Riba Prohibition in Velliv.dk’s Context

The prohibition of Riba interest is a cornerstone of Islamic finance, deeply rooted in the Quran and Sunnah.

For a financial service like Velliv.dk, which operates within a conventional framework, understanding how this prohibition applies is critical for a Muslim audience.

What is Riba?

Riba broadly refers to any unjust, exploitative gain made in business or trade, specifically involving an excess or addition in return for a loan or through exchange of specific commodities. It encompasses:

• Riba al-Fadl: Excess in exchange of specific homogeneous goods e.g., exchanging 1kg of high-quality dates for 1.2kg of low-quality dates.
• Riba al-Nasi’ah: The increase in principal amount for a loan over time, or the interest charged on a debt the most common understanding of Riba. This is the type most relevant to conventional banking, loans, and financial products.

Why is Riba Prohibited?

The Islamic prohibition of Riba stems from several ethical and economic considerations:

• Exploitation and Injustice: Riba is seen as a system that allows the rich to accumulate wealth without productive effort, exploiting the needs of others. It disproportionately burdens the poor and financially vulnerable.
• Inequality: It exacerbates wealth inequality, concentrating capital in the hands of a few rather than promoting equitable distribution.
• Discourages Productive Investment: Riba incentivizes lending for profit rather than investing in real economic activities that create jobs and goods. It encourages speculative activities over tangible growth.
• Moral Hazard: It can lead to unsustainable debt burdens and financial instability, as seen in various economic crises driven by excessive interest-based lending.
• Divine Command: Ultimately, it is a direct command from Allah SWT in the Quran e.g., Surah Al-Baqarah, 2:275-279.

How Velliv.dk Likely Engages with Riba

While Velliv.dk does not explicitly state it uses interest, its operation as a conventional pension and insurance provider makes engagement with Riba almost inevitable: Qualityairductcleaners.com Reviews

• Investment Portfolio: Pension funds like Velliv typically invest in a diversified portfolio that includes interest-bearing assets such as government bonds, corporate bonds, and money market instruments, which are all fundamentally based on Riba. For example, a significant portion of institutional investments globally are in fixed-income securities bonds, which generate interest.
• Return Calculations: The “returns” on pension savings are often derived from these interest-bearing investments or through other mechanisms that involve interest calculations in their core methodology.
• Insurance Underwriting: Conventional insurance involves pooling premiums and investing them, often in interest-bearing assets. The profit generated, from which claims are paid and shareholder returns are derived, typically includes interest income.
• Financial Leverage: The operational models of many financial institutions involve borrowing or lending at interest to manage liquidity or enhance returns.

The Impact for Muslims

For a Muslim, engaging with Velliv.dk, even for a “good” cause like retirement saving, would mean participating in a system that is fundamentally built on Riba. This is a severe prohibition in Islam.

The alternative is to seek Sharia-compliant financial products that completely avoid interest and operate on principles of risk-sharing, ethical investment, and real economic activity.

How to Approach Financial Planning Ethically Beyond Velliv.dk

Since Velliv.dk, like most conventional pension and insurance providers, operates on principles that include interest Riba and excessive uncertainty Gharar, it’s crucial for Muslims to understand how to approach financial planning ethically.

This involves seeking alternatives that align with Islamic principles.

Key Principles of Islamic Financial Planning

1. Avoid Riba Interest: This is paramount. All investments and financing must be free from interest.
2. Avoid Gharar Excessive Uncertainty/Ambiguity: Contracts should be clear, transparent, and free from undue speculation.
3. Avoid Maysir Gambling/Speculation: Investments should be based on real assets and productive economic activity, not mere chance or speculation.
4. Invest in Halal Businesses: Funds should only be invested in companies and industries that are Sharia-compliant e.g., not alcohol, tobacco, gambling, conventional banking, armaments, adult entertainment.
5. Zakat Compliance: Financial planning should account for the obligation of Zakat charitable giving on wealth.
6. Ethical Conduct: All dealings should be based on honesty, fairness, and social responsibility.

Practical Steps for Ethical Financial Planning

• Educate Yourself: Learn the basics of Islamic finance and what makes a product or service Sharia-compliant. Resources from reputable Islamic finance institutions or scholars are invaluable.
• Seek Sharia-Compliant Products:
  • Takaful: For insurance needs health, life, property, opt for Takaful providers instead of conventional insurance companies.
  • Halal Investment Funds: For retirement savings, look for investment funds specifically certified as Sharia-compliant. These funds undergo rigorous screening to ensure they only invest in permissible assets and industries. Globally, the number of such funds is growing, with assets under management AUM in Islamic funds reaching hundreds of billions of dollars.
  • Sukuk: Consider investing in Sukuk for fixed-income type investments, as they represent ownership in real assets and provide returns based on profit-sharing, not interest.
  • Direct Halal Equity: For those willing to do their own research, investing directly in Sharia-compliant stocks after thorough screening is an option.
• Halal Savings Accounts: If saving in a bank, ensure it’s in an account that does not accrue interest. Some Islamic banks offer profit-sharing savings accounts based on Mudarabah contracts.
• Halal Home Financing: For home purchases, avoid conventional mortgages and explore Islamic home finance options like Murabaha, Musharakah Mutanaqisah, or Ijarah.
• Consult Islamic Financial Advisors: Seek advice from financial advisors who specialize in Islamic finance. They can help tailor a financial plan that aligns with your personal circumstances and Islamic principles. For example, reputable Islamic financial advisory firms are available in various countries, offering guidance on permissible investments and savings.
• Focus on Real Assets: Prioritize investments in real assets like real estate, ethical businesses, or commodities following Sharia rules for commodity trading, rather than purely speculative financial instruments.
• Long-Term Vision with Sadaqah/Waqf: Integrate charitable giving Sadaqah and potentially establishing Waqf endowment into your financial plan, as these are highly encouraged in Islam for long-term benefit and spiritual reward.

By proactively seeking Sharia-compliant alternatives and understanding the underlying principles, Muslims can build a robust and ethical financial future without compromising their religious obligations. Kwikvape.co.uk Reviews

How to Potentially Disengage from Velliv.dk If Already Subscribed

If you find yourself or your employer involved with Velliv.dk or a similar conventional pension/insurance provider, understanding the steps to disengage or transition to Sharia-compliant alternatives is crucial.

While specific cancellation processes for Velliv.dk would require direct contact with them, here’s a general guide based on common practices for such services, framed with an Islamic perspective.

Step 1: Understand Your Current Agreement

• Review Your Contract: Obtain and meticulously review all documentation related to your Velliv.dk pension or insurance policy. Look for clauses regarding:
  • Cancellation terms: Notice periods, penalties for early withdrawal, and any specific procedures.
  • Transferability: Can the funds be transferred to another provider, and what are the associated fees or conditions?
  • Payout options: What are the options if you cease contributions?
• Identify Riba Elements: Pinpoint how interest Riba might be embedded in your current agreement, whether through investment returns, penalties, or other charges. This reinforces the need to transition.

Step 2: Research Sharia-Compliant Alternatives

Simultaneously, while understanding your current situation, actively research and identify viable Sharia-compliant alternatives for your pension and insurance needs.

Refer to the “Velliv.dk Alternatives” section for detailed options like Takaful and Halal investment funds.

• Contact Islamic Financial Institutions: Reach out to Islamic banks, Takaful providers, and Sharia-compliant asset management firms in your region or internationally.
• Consult Experts: Seek advice from Islamic financial scholars or advisors who can guide you on the best permissible options for your specific circumstances.

Step 3: Initiate Communication with Velliv.dk

Once you have a clear understanding of your current policy and potential alternatives, begin the process of disengagement. Rixos.com Reviews

• Contact Customer Service: Call Velliv.dk’s customer service 70 33 99 99 as listed on their website or use their online contact forms.
• State Your Intent Clearly: Inform them of your desire to cease contributions or transfer your pension/insurance. Be firm but polite.
• Inquire About the Process: Ask for a detailed, step-by-step guide for cancellation or transfer. Request this in writing if possible.
• Ask About Withdrawal Options: Specifically inquire about:
  • Full withdrawal: If permissible and financially feasible.
  • Partial withdrawal: If you can extract a portion of your funds.
  • Transfer to another provider: The process and requirements for an institutional transfer.

Step 4: Manage Your Funds Ethically During Transition

• Purify Impermissible Gains: If your Velliv.dk pension has generated returns that you suspect include Riba, you should purify these impermissible gains. This involves calculating the estimated interest-based earnings and donating that amount to charity, without expecting reward Thawab, as it was illicit gain. This is a form of purification, not Sadaqa.
• Direct Funds to Halal Investments: As soon as funds are released from Velliv.dk, ensure they are immediately directed into your chosen Sharia-compliant investment or savings vehicles. Do not let them sit in conventional interest-bearing accounts.

Step 5: Formalize the Cancellation/Transfer

• Submit Written Requests: Always follow up phone conversations with written requests email or postal mail to create a paper trail.
• Provide Necessary Documentation: Be prepared to provide identification, account details, and any other required forms.
• Monitor Progress: Keep track of the timeline given by Velliv.dk and follow up regularly to ensure the process is moving forward as expected.

By taking these diligent steps, a Muslim can work towards transitioning away from conventional financial products like those offered by Velliv.dk and move towards a financial future that is in line with Islamic principles.

Velliv.dk Pricing and its Riba Implications

While Velliv.dk’s website doesn’t offer a transparent, public pricing page in the way a SaaS product might, the “pricing” of pension and insurance products typically involves a combination of fees, charges, and underlying investment costs.

For a Muslim, the critical concern isn’t just the quantum of these costs but how they are structured and whether they implicitly or explicitly involve Riba interest.

Understanding Conventional Pension/Insurance “Pricing”

In the conventional financial industry, “pricing” for services like those offered by Velliv.dk usually includes:

• Administrative Fees: Charges for managing your account, record-keeping, and providing customer service. These are generally fixed or a percentage of your assets.
• Investment Management Fees IMFs: Fees charged by the fund managers for actively managing the investment portfolio. These are usually a percentage of the assets under management AUM. Velliv.dk mentions “some of the industry’s lowest investment costs” for “VækstPension Index,” implying these fees are a component.
• Insurance Premiums: For any associated life, disability, or health insurance coverage, there will be premiums, which are essentially the “price” for the risk transfer.
• Policy Charges: Various other charges might be levied, such as policy fees, surrender charges if you cancel early, or fees for specific transactions.
• Implicit Costs: These include the “bid-ask spread” in investments or the opportunity cost of funds.

The Riba Connection in “Pricing”

For a Muslim, the issue with Velliv.dk’s “pricing” models is less about the numerical value of the fees and more about the underlying structure: Pigandhen.de Reviews

• Investment of Premiums/Contributions: The core issue is that the contributions whether premiums or pension savings are pooled and then invested in conventional markets. These markets fundamentally rely on interest-bearing instruments like bonds and often engage in interest-based lending and borrowing.
  • Example: A significant portion of a pension fund’s portfolio might be allocated to fixed-income securities. In 2023, pension funds globally held trillions in bonds, which directly generate interest. Even if Velliv.dk claims “low investment costs,” the returns on these investments are likely generated through mechanisms that involve Riba.
• Calculation of Returns/Benefits: The “returns” on your pension savings, or the basis for calculating insurance payouts, are derived from these interest-based investments. Thus, any “profit” shared with the customer, even if presented as a “bonus” as Velliv Foreningen offers, would be tainted if its origin is Riba.
• Conventional Actuarial Models: The actuarial science used to price conventional insurance premiums relies on models that often incorporate interest rates for discounting future liabilities and calculating profits.
• Surrender Charges Potential Riba: If early cancellation incurs a penalty that is not a true cost recovery but an arbitrary charge related to lost “future interest earnings” or similar mechanisms, it could also fall under Riba.

Why This Matters for Muslims

Even if Velliv.dk’s stated fees are competitive or “low,” the source of the returns and the basis of the financial products remain the critical concern. For a Muslim, paying into or receiving benefits from a system fundamentally reliant on interest is problematic, regardless of how “cheap” it might seem. The entire financial ecosystem of conventional pensions and insurance is built on premises that are incompatible with Islamic finance. Therefore, regardless of how transparent their “pricing” might be, the underlying impermissible nature of the transactions takes precedence.

Velliv.dk vs. Halal Pension Providers: A Stark Contrast

When comparing Velliv.dk to a hypothetical “Halal Pension Provider,” the distinction is not merely in brand names or customer service, but in the fundamental ethical and religious framework governing their operations.

This is a comparison between a conventional financial institution and one built on Islamic principles.

Velliv.dk Conventional Model

• Core Principle: Maximizing financial returns within the regulatory framework, typically through interest-based investments and conventional risk transfer.
• Investment Strategy: Diversified portfolio likely includes interest-bearing bonds, conventional stocks without Sharia screening, and potentially other non-Sharia-compliant assets. They might mention “low investment costs” and competitive returns, but the source of these returns is not ethically screened from an Islamic perspective. Data from conventional pension funds consistently shows significant allocation to fixed-income bond instruments, which are Riba-based.
• Risk Management: Based on conventional actuarial science, often involving the pooling of premiums and profiting from investment of these funds, which can include Riba.
• Profit Distribution: Profits are derived from investments including Riba and operational efficiencies. Any “bonus” distributed to customers, like that from Velliv Foreningen, would originate from this conventional profit pool.
• Compliance: Adheres to Danish financial regulations and common financial practices. No Sharia compliance oversight.
• Target Audience: General public seeking financial security in retirement and health, without specific religious financial requirements.

Halal Pension Provider Sharia-Compliant Model

• Core Principle: Facilitating financial security and growth in a manner that adheres strictly to Islamic law Sharia, avoiding Riba, Gharar, and Maysir, and investing only in ethical, permissible ventures.
• Investment Strategy:
  • No Riba-bearing instruments: Excludes conventional bonds, interest-bearing bank accounts, and other fixed-income securities.
  • Sharia-compliant equities: Investments only in stocks of companies that pass rigorous Sharia screening e.g., no alcohol, gambling, conventional finance, adult entertainment, excessive debt. Sharia stock indices like Dow Jones Islamic Market Index or FTSE Global Islamic Index show thousands of compliant companies globally.
  • Sukuk: Investments in Sharia-compliant bonds Sukuk, which represent ownership in tangible assets and generate returns from real economic activity. The global Sukuk market is a multi-billion dollar industry.
  • Halal Real Estate/Commodities: Direct investment in permissible real assets or commodities.
• Risk Management Takaful Model: For the “insurance” component of a pension, it would operate on a Takaful basis mutual cooperation and donation, where participants contribute to a fund to mutually indemnify against losses, rather than a premium for risk transfer. Any surplus is often returned to participants.
• Profit Distribution: Profits are generated solely from Sharia-compliant investments and ethical operations. Surpluses are distributed fairly according to Sharia principles, often shared with participants.
• Compliance: Subject to dual compliance: financial regulation of the operating country and rigorous Sharia compliance, overseen by a Sharia Supervisory Board SSB of independent scholars.
• Target Audience: Muslims who require their financial planning to be in accordance with their religious beliefs, and ethically-minded individuals who prefer investments free from interest and unethical industries.

The Contrast in Purpose

Velliv.dk aims to provide a conventional financial service efficiently.

A Halal Pension Provider aims to provide financial security while upholding divine commands and ethical principles. Effektlageret.dk Reviews

For a Muslim, this fundamental difference makes opting for a Halal alternative a religious necessity rather than just a financial preference.

The long-term spiritual benefit of adhering to Islamic financial principles outweighs any perceived conventional market advantage.

Frequently Asked Questions

What is Velliv.dk?

Based on checking the website, Velliv.dk is a Danish pension and insurance company that offers pension savings, health solutions, and advisory services to individuals and businesses. They market themselves as 100% customer-owned.

Is Velliv.dk Sharia-compliant?

No, Velliv.dk is a conventional pension and insurance company.

Its operations, like most conventional financial institutions, involve elements of Riba interest and Gharar excessive uncertainty in its investments and product structures, which are not permissible in Islam. Baldeaglepublishing.com Reviews

Why is conventional pension not permissible in Islam?

Conventional pensions typically invest in interest-bearing instruments Riba like bonds and often involve contracts with excessive uncertainty Gharar, both of which are prohibited in Islamic finance.

What are the main services offered by Velliv.dk?

Velliv.dk offers pension schemes, health and well-being services including physical treatment, counseling, stress management, flexible investment options for pensions, and personalized financial advice.

Does Velliv.dk offer a free trial for its services?

No, Velliv.dk does not offer a “free trial” in the typical sense of a software or subscription service.

Their offerings are long-term financial products like pensions and insurance that involve ongoing contributions.

How does Velliv.dk claim to be customer-owned?

Velliv.dk states it is 100% customer-owned through Velliv Foreningen Velliv Association. As a customer, you automatically become a member of this association, which owns Velliv. Mybabes.ai Reviews

Can I get a bonus from Velliv.dk as a customer?

Yes, as a member of Velliv Foreningen, customers may receive an annual bonus, which Velliv.dk states is a benefit of their customer-owned model.

However, the source of this bonus would still be from conventional financial operations.

What are the investment options at Velliv.dk?

Velliv.dk mentions offering “VækstPension Index” as a lifecycle product with claims of low investment costs and strong returns.

These are conventional investment portfolios that likely include non-Sharia-compliant assets.

How do I contact Velliv.dk for advice or questions?

You can contact Velliv.dk by phone at 70 33 99 99 for general questions, pension checks, or to adjust savings. They also have a contact form on their website. Barnbury.com Reviews

What alternatives exist for Muslims for pension and insurance?

For Muslims, Sharia-compliant alternatives include Takaful Islamic insurance for protection, and Halal investment funds or Sukuk for retirement savings, all of which avoid Riba, Gharar, and invest in permissible industries.

Are the health services provided by Velliv.dk permissible for Muslims?

Yes, receiving health and well-being services like physical treatment, counseling, or stress management is generally permissible for Muslims, provided the services themselves are ethical and the primary financial relationship with Velliv.dk is avoided or transitioned away from.

What is the primary concern for Muslims regarding Velliv.dk?

The primary concern is the inherent involvement of Riba interest in the conventional pension and insurance models that Velliv.dk operates, as well as the potential for investment in non-Sharia-compliant industries.

Can I transfer my Velliv.dk pension to a Sharia-compliant provider?

Potentially, yes.

You would need to inquire with Velliv.dk about their transfer policies and associated fees, and simultaneously find a reputable Sharia-compliant pension provider that accepts transfers. Nutridome.ie Reviews

How do I cancel my Velliv.dk pension or insurance policy?

To cancel, you would need to contact Velliv.dk’s customer service directly e.g., 70 33 99 99 to understand their specific cancellation procedures, any associated fees, and options for withdrawal or transfer.

What is the process for purifying Riba gains if I have a Velliv.dk policy?

If you receive gains or a bonus from a conventional pension like Velliv.dk that is deemed Riba, you should estimate the amount attributable to interest and donate it to charity with no expectation of reward, as a purification of ill-gotten gains.

Does Velliv.dk engage in social responsibility?

Yes, Velliv.dk states that social responsibility is a natural part of their daily operations and how they conduct their business.

However, their definition of social responsibility may differ from Islamic ethical investment principles.

What kind of advice does Velliv.dk offer?

Velliv.dk emphasizes personalized advice on pensions and insurance, aiming to provide recommendations tailored to individual needs and current life situations. Wheelyfresh.co.uk Reviews

Is it mandatory to have a pension scheme in Denmark?

While not strictly mandatory for all, it is very common for employers in Denmark to offer occupational pension schemes, and individual pension savings are highly encouraged.

How do I ensure my financial planning is ethical from an Islamic perspective?

To ensure ethical financial planning, seek out financial advisors specializing in Islamic finance, invest only in Sharia-compliant funds and products like Takaful and Sukuk, and avoid any transactions involving Riba or Gharar.

Are the customer testimonials on Velliv.dk reliable?

Customer testimonials on any company website, including Velliv.dk, are typically curated to present a positive image.

While they may reflect genuine satisfaction from a conventional perspective, they do not address the Islamic permissibility of the services.

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