The Brunei Insurance and Takaful Association (BITA) recently hosted a webinar focussing on how insurance and takaful can help grow savings.
The webinar emphasised on how insurance and takaful can protect individuals and families from financial losses due to unforeseen circumstances, whilst also be an investment and savings instrument.
One of the financial tips suggested is the 4:3:2:1 income budget ratio (ie, 40 per cent financing, 30 per cent expenses, 20 per cent savings, 10 per cent insurance/takaful).
An individual is advised to keep the ‘Debt Service Ratio’ to 40 per cent or lower.
Chairman of BITA Haji Shahrildin bin Pehin Orang Kaya Lela Utama Dato Paduka Haji Jaya in his remarks reiterated BITA’s commitment to support and work towards Brunei Vision 2035 where knowledge is an important pillar.
He said the commitment is also aligned with BITA’s vision of advancing towards a professional and dynamic insurance and takaful industry in the country.
