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Monthly Archives: Jan 2016

Common Myths About Income Protection

Today, there are many insurance policies that are sold to people. It’s not an easy task to understand the jargons and process of buying insurance. On the other hand, some may get caught up to wrong selection. As a result, they start doubting these services and withdraw the idea of applying for a policy. On the other hand, individuals have spread many rumours regarding income protection insurances. Therefore, more and more clients are reluctant to visit an insurance company for their services. So, it’s important to dissolve these myths and false facts that are spreading quickly.

What are your views about income protection policies? Are you reluctant to apply for it, because of some false news, provided by someone? You must have read an article or post online and misunderstood the statement. Here are some common myths that people believe and that needs to be corrected:

1.    Don’t waste your money on this useless policies

When people start searching through and compare life insurance quotes online policies read them, they might come across these statements. Specially, if you’re not well, you might not be able to report to work. However, these policies help you to deal with expenses, repayments and many other costs you have to bear.

2.    Companies don’t pay back

If you have been paying your premiums in proper due dates, you wouldn’t have to face such situations. There are many who don’t keep up with the payment and don’t get the benefit of the claim. Therefore, they spread word that companies don’t pay back, which should be dismissed.

3.    The process to apply is too lengthy

Another myth that is widely circulating and discouraging many who are keen in applying for this, is regarding the application process. This isn’t true due to the wide range of facilities offered by the Internet. The process is much faster, efficient and customer friendly. Therefore, you could compare income protection and decide on a policy and buy it.   

4.    Self-employed individuals aren’t entitled to this facility

Are you self-employed? For instance are you freelancing for a client or clients? Majorities are under the impression that, they aren’t able to apply if they are self-employed. However, with the proper documentation, you are eligible to buy an income protection plan.

Are you caught up with one of these misguiding facts? It’s about time to get away from it and apply for an income protection policy. If you’re friend or colleague holds the same view, make sure that you pass these facts to them as well. As a fact, the more people are being aware about it, the faster these myths would die out. For more info about income protection insurance Australia, visit this site

Islamic Law Puts Investments Out Of Limits

The majority of Muslims are looking for a varied combination of investment products to add in their collection. But, before they purchase, they have to find out if a particular investment is acceptable.

According to the Islamic and Shariah law, it is required to investigate a company. Before making an investment Muslims have to make an estimate of company’s financial records and business activities to verify where their major revenue comes from and how their earnings and expenses are controlled. Those details let them decide if the investment is acceptable or halal. If not, it’s unacceptable or haram.

Acceptable or Halah businesses

Business segments that usually don’t construct or marketplace prohibited products are known as acceptable or halal for Muslim investors.

Here are some standard examples of appropriate industries:

• Transportation

• Textiles

• Telecommunications

• Energy

• Computer software and Computers

• Chemical manufacture

When halal investment in Australia are taking into consideration, you are required to look intensely into a company’s dealing to find out its core foundation of earnings or how it truly creates its money. Its business division, or part of the financial system to which it fits in, may not all the time tell you the complete story.

For instance, a computer company or computer software company may manufacture products used in betting or gambling. A publishing corporation might produce some books or magazines that include some pornographic contents. Or a farming manufacturer might put up for sale its harvests completely to breweries.

Unacceptable or Haram businesses

Islamic law recognizes some trade actions as haram when they make profits in offensive ways. Haram business actions comprise the marketing or manufacture or any of below-given products:

• Pornography

• Pork products or pork

• Conservative financial services

• Gaming and Gambling activities

• Haram Alcohol

Additionally, most Shariah scholars recommend besides investing in tobacco corporations or those implicated in weaponry and other security industry products. And many categorize the entertainment business usually as haram.

Getting to the core

Islamic lawful scholars make use of numerous conventions to decide when a business movement is a core foundation of income and when it is not.

Some rules say that a core trade is one that accounts for over 5 percent of a company’s or gross income or company’s income. For instance, if the deals of alcohol products account for below 5 percent of an airline company’s income, then alcohol is not a centre trade and putting money in that company’s stocks is usually adequate.

A fairly less strict rule sets the model for a centre business at 10 percent, and diverse Islamic researcher may put diverse restrictions.

This way of thinking affects to the Islamic ban on interest or riba, as well. 

On the other hand check this page if you want to find out more reviews regarding Halal Finance in Australia.