Wealth Management: What is insurance planning? What should I know about insurance planning?

An insurance programme should be part of your plan to protect against the risk of unexpected financial losses.

This will include protection for losses from fire, flood and other risks to your business and the purchase of health and life insurance for yourself and your employees.

The amount of insurance depends on your needs, the circumstances as well as the objectives.

Insurance protection should be reviewed regularly to ensure that the protection is adequate based on your current situation.

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Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

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Knowledge Base ID :   1434
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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