Business and Dealings

Health insurance

Q: I have a question regarding to state life insurance company whether the health insurance of this company is halaal or haram.

My 2nd question is that my parents took a loan from a insurance company about 1 lac. Now they are going to do sadaqa/aqeeqah of a cow from this money. Is this is valid? 

Specifying a certain amount of the profits for any partner in a partnership

Q: I invested 1 million dollars with my friend who is running a chicken business. Normally, what happens is that I invest my money and we specify that 200,000 from the profits will be mine and the rest will be his. Is this permissible or is this interest? Please also explain the basic laws of a partnership in Islam.