Protect Your Retirement Income from Unexpected Health Risks

If there’s anything we’ve learned by facing a global pandemic, it’s that being prepared is critical. The unexpected can happen to any of us. If it does, are you protected? (Pro tip: You can be – with an insurance plan that has your back when you need it most.)

But let’s say you don’t have an insurance plan yet. What do you do when you’re facing unexpected medical costs? In an emergency, you might choose to access your retirement funds earlier than you intended. And you aren’t alone in this. Many people found themselves in this position over the last year, facing unexpected challenges like a COVID-19 illness. But when you access your registered funds, they’re taxed in the year you use them. Drawing from these funds before your retirement can sideline your goals.

With an insurance plan, there’s another way.

You can actually pass the risk to an insurance company by getting a critical illness plan with a recovery benefit. This tax-free, lump-sum payment can cover any number of unforeseen expenses. Even better, there’s no need to submit a receipt or justify the costs.

Another option is to get a disability insurance plan that covers you with monthly payments for a set amount of time, if you’re unable to work due to injury or illness.

Bottom line: you can keep your retirement goals on track with an insurance plan that carries you through a crisis. Not only will you have peace of mind when you need it, you’ll still meet your financial goals on the timeline you choose.

Each type of policy has specific details that we can discuss during a free consultation. Bring all of your questions, we’re here to walk you through each step. If you select a plan, we’ll guide you through the process, helping you protect your future.

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