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When it comes to managing personal risk, there’s a very similar analogy which I like to use- Home Security. There are a few facts that we need to know when it comes to setting up a burglar-proof home security system.

First, we do not know which door or window the burglars will break in from. If we really have something they really want, they might even dig a tunnel right into your safe. In this sense, it’s very similar to the risk you are exposed to everyday; you never know when you’ll be stepping in front of an oncoming truck.

A good home security system takes into account every potential break-in channels. Every doors and windows in the entire building that might give the burglar an entry into the house is protected, leaving nothing to chance.

So, if a good security system keeps your windows and doors from burglar infiltrations, what should your insurance policies do to ensure your personal risk is well taken care of? In the next few posts of this series, I would share with you the strategy which you can use. It’s by no means a definitive approach, but rather it should serve as a general guideline in your insurance planning strategy.

Let’s start with one of the most important insurance policy that you should already have by now: The Personal Accident Insurance Policy.

• How Much Insurance Should You Buy?
• The Malaysia Insurance Planning Guide Part 1: Needs or Wants
• Malaysia Personal Accident Coverage
• Malaysia Medical & Hospitalization Insurance Explained
• Protect or Accumulate?
• Malaysia Endowment Insurance
• Malaysia Critical Illness Insurance Coverage
• Medical Coverage for Stem Cell Transplant