What is the ruling on opening a savings account with a bank that relies on deducting a monthly sum from the salary for a period of 4 years, to be benefited from in cases of total disability or death?

It is impermissible to enter into a life insurance contract, as it is a compensatory contract in which the insurer undertakes to pay an agreed-upon sum to the insured or the beneficiary upon death or reaching a certain age, in exchange for premiums paid by the insured. This type of insurance is a form of forbidden commercial insurance due to the presence of gharar (excessive uncertainty), gambling, and riba (interest/usury) within it. It is thus a contract that is invalid under Islamic law.