Protect yourself

The role of insurance as part of a financial plan is to replace the income that would be lost if you or someone in your family were no longer able to work. The goal is to make sure that, even if there is a negative health event, you and your family will not suffer a lower standard of living now or in retirement.


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Planswell Insurance - Protect your assets

Around 50% of the time, saving money on a monthly basis and investing in a portfolio of stocks and bonds is enough to reach retirement in good shape. But the other 50% of the time, something will happen along the way, such as an accident, illness or even death. The role of insurance is to make sure that if one of these things happens to you or a family member, it won’t ruin your financial plan. You or your surviving loved ones will still have the money needed to sustain a consistent lifestyle. That’s why at Planswell, your financial plan may include three types of insurance (below) to protect you and your family.

Term Life Insurance

Term Life Insurance pays a tax-free lump sum if the insured person passes away. We design your plan with the expectation that this amount will be invested according to the risk tolerance of the surviving spouse in order to produce ongoing income.

Critical Illness Insurance

Critical Illness Insurance pays a tax-free lump sum if you are diagnosed with one of several common illnesses including cancer and heart disease. This amount is designed to cover lost income as well as a variety of medical expenses that are not covered by public health plans.

Disability Insurance

Disability Insurance pays a monthly tax-free benefit if you become temporarily or permanently disabled and cannot work at your current occupation. Studies show that an accident or illness will cause about one person in three to be disabled for 90 days or more in their lifetime.

Still not convinced that insurance is for you and your family? We get where you’re coming from. Insurance is like a safety net for your future finances, protecting your assets should something unexpected happen along the way… And let’s face it things rarely go as planned. Check out our insurance + investments calculator to see what could happen to your future assets with (or without) the right protection in place.