I have bad news for you, friend. It’s bad enough that the bank doesn’t tell you the financial risks they’ve been undertaking to get you that “kacang putih” interest rate. The worse thing that can happen is if the bank goes bust, they do not guarantee that you’ll get ALL your money back; if your savings exceeds $50,000 that is.
So the “don’t put all your eggs in one basket” rule applies here.
Speaking of banks, what if your insurance company fail?
The new thing in the insurance industry is the Policy Owner’s Protection (PPF) Scheme. It’s basically an “insurance scheme for your insurance policy”. The bad news, they may limit your insurance claim!
So if you’re a loyal fan of a sole company, and if that company runs out luck, so do you….
