When you have a Planswell financial plan, you get the right amount of protection, period. Here’s why: Most people are sold the amount of insurance they feel they can afford rather than the amount they truly need. Not only that, the amount of insurance usually stays the same forever, even though it should usually decrease over time as you build your wealth and pay down your debts. We include expected costs right in your financial plan and bring it down over time as you pay off your mortgage and do other things that reduce your need for protection. Truly, we have your best interests in mind.
The majority of insurance policies contain unhelpful bells and whistles that cost you a lot of money. Things like savings or investment features that come with a low rate of return and high fees. With Planswell, you’ll be guided to simple, cost-effective insurance with none of the fat.
Very few insurance policies are sold within the context of a complete financial plan. This is a big mistake. After all, the whole point of insurance is to fill the gaps in your financial plan that would occur in the event of a death or illness. That’s why you simply can’t make an intelligent choice without looking at the entire picture. With Planswell, we make sure your investments, borrowing, and insurance all work together. That way, you can reach your financial goals 100% of the time, no matter what happens.
There’s a saying that “insurance is sold, not bought.” In other words, it’s generally something people need to be convinced to purchase. And, too often, what we end up with is whatever an insurance agent managed to sell to us or whatever coverage is provided for us by default through a workplace program.
But if you want to understand the purpose of insurance, it helps to imagine your life as crossing a long bridge. In the majority of cases, you will be able to cross the bridge without a problem. But a certain percentage of the time, a section of the bridge will be out. The perfect insurance policy is one that covers the gap so you can keep moving along.
In our experience, most people don’t have the right insurance — not the right type, amount or price. But at Planswell, our mission is to make sure you have exactly what you need. No more. No less.
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