Protecting your wealth this summer (with radio ad)

Long version

Summer is a time for relaxation—but it's also a good time to review the strategies protecting the wealth you've worked hard to build. Insurance and estate planning may not be top of mind when you're enjoying the sunshine, but taking time now can provide confidence for the rest of the year.

Review your life insurance coverage

When was the last time you looked at your life insurance? Major life events—marriage, having children, buying a home, or a significant income change—should all trigger a review. A common guideline is coverage equal to eight to 10 times your annual income, but your specific needs depend on your situation. If you have young children, outstanding debts, or a partner who relies on your income, you may need more. Your financial advisor can help you determine the right amount.

Don't overlook disability insurance

Disability insurance is often overlooked, but it's one of the most important protections you can have during your working years. If you couldn't work for six months or longer due to illness or injury, how would you cover your expenses? Many Canadians rely on employer-provided coverage without fully understanding its limitations. Review your policy—specifically the monthly benefit amount, the waiting period before benefits begin, and whether it covers your specific occupation or any occupation.

Consider critical illness coverage

Critical illness insurance pays a lump sum if you're diagnosed with a covered condition such as cancer, heart attack, or stroke. Unlike disability insurance, which replaces lost income, critical illness coverage gives you a lump sum to use however you need—covering medical expenses, modifying your home, or simply reducing financial stress during a difficult time.

Strengthen your estate plan

Estate planning isn't just for the wealthy. Every adult should have a will specifying how assets will be distributed and who will care for minor children. Without one, provincial laws decide what happens to your estate—and the results may not reflect your wishes. Also consider a power of attorney for property (someone to make financial decisions if you're unable to) and a power of attorney for personal care (someone to make healthcare decisions on your behalf).

Update your beneficiary designations

Check the beneficiary designations on your RRSPs, TFSAs, and life insurance policies. These designations determine who receives the proceeds directly—bypassing your estate entirely. If you named an ex-spouse years ago and haven't updated the designation since, they'll receive those funds regardless of what your will says. It's a small step that can make a significant difference for your loved ones.

Protecting your wealth is just as important as growing it. If it's been a while since you've reviewed your coverage or estate documents, this summer is a good time to start. Your financial advisor can help ensure all the pieces are in place.

This content was provided by Edward Jones for use by (FA's NAME), your Edward Jones financial advisor at (branch address or phone #). 

Edward Jones, Member - Canadian Investor Protection Fund, Member – CIRO.

Number of Words: 474

Radio version

30-second version

Summer is a great time to review the strategies protecting your wealth. Start with life insurance—major life events like marriage, children, or buying a home should trigger a review. Don't overlook disability insurance either. You're more likely to become disabled during your working years than to die prematurely, so understand what your policy actually covers. Review your estate planning documents—every adult needs a will and should consider powers of attorney. And check your beneficiary designations on RRSPs, TFSAs, and life insurance policies to make sure they still reflect your wishes. Your financial advisor can help you make sure all the pieces are in place.

This content was provided by Edward Jones for use by (FA's NAME), your Edward Jones financial advisor at (branch address or phone #).

Edward Jones, Member - Canadian Investor Protection Fund, Member – CIRO.

Number of words: 106

15-second version

Is your wealth protected? This summer, take time to review your life and disability insurance coverage, update your will and powers of attorney, and check your beneficiary designations on RRSPs, TFSAs, and life insurance policies. Speak with your financial advisor to make sure everything is up to date.

This content was provided by Edward Jones for use by (FA's NAME), your Edward Jones financial advisor at (branch address or phone #).

Edward Jones, Member - Canadian Investor Protection Fund, Member – CIRO.

Number of words: 48