Released August 13, 2008
URBANA, Ill. - A website that helps you develop a personal risk management plan has been updated and redesigned by University of Illinois Extension. "Is Your Financial Security At Risk?" (http://www.urbanext.uiuc.edu/risk/intro.cfm) was developed by Karen Chan, a U of I Extension consumer and family economics educator.
"A personal risk management plan can help you assure that you are protecting the people you care about and give you peace of mind," she said. "Most people just buy the insurance they are required to have, or the insurance that is sold them. It can be an empowering experience to look at the whole picture and actually develop a plan for managing financial risks."
The website provides a step-by-step guide for developing such a plan.
"Without a plan, you may be over-insured in some areas and under-insured in others," she said. "You may be unaware of the risks to which you are exposed. And you may be insuring risks that are more emotional than financial in nature."
Website users will be able to identify those events which pose a financial risk and learn the four basic methods of managing risk.
"You will also be able to determine the methods you are currently using to manage your risks and identify gaps in your current risk management strategies," she said.
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http://www.aces.uiuc.edu/news/stories/news4474.html
Contacts: Karen Chan, (703) 352-0109
Bob Sampson, 217-244-0225, rsampson@uiuc.edu
