Risk Management

Situation 1...

A self-employed Grab driver in Penang earning RM4,500 per month has no takaful coverage and is increasingly worried about potential health emergencies. With a family of three to support, they fear that a major illness could drain their limited savings and leave them unable to meet daily expenses.

• Do you have adequate protection against income loss due to illness or accidents?

  Have you explored plans that align with your financial capacity and family needs?

• Are you aware of medical inflation and its potential impact on future costs?financial capacity and family needs?

• t on future costs?

You didn’t come this far to stop

Situation 2...

A family breadwinner in Seremban earning RM7,000 per month considers upgrading their family takaful plan. With three school-going children, they worry about insufficient coverage for education expenses in the event of unforeseen circumstances. Their current policy covers only RM50,000, which may fall short of future needs.

• Have you calculated the financial requirements for your children’s education?

• Does your policy provide adequate coverage for both short-term and long-term needs?

• Have you reviewed whether inflation-adjusted amounts meet your anticipated goals?

How a Financial Planner Can Help:

The planner will conduct a detailed risk assessment to evaluate coverage gaps in the client’s current policies. They will recommend appropriate takaful products based on the client’s needs, such as critical illness coverage or family income replacement. The planner will also educate the client on policy features, ensuring affordability and alignment with financial goals. Regular reviews will ensure coverage remains adequate over time.