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The biggest decision you can make to build your financial stability as you approach retirement is not about money, says Dan Bortolotti.

"One of the best financial decisions you can make is looking after your health," notes Mr. Bortolotti, an investment advisor at PWL Capital Inc. in Toronto.

People often assume they are going to keep working longer than they actually end up staying on the job, he explains.

This is not surprising, given that at least one poll, conducted for Manulife Bank of Canada late in 2014, found that 6 out of 10 Canadians worry about having enough money in retirement to keep up their lifestyles.

"As much as people like to talk about being able to work until they're 68 or so, many people who leave the workforce don't do so voluntarily. They do so for health reasons," Mr. Bortolotti says.

While staying in the workforce longer "can make a huge difference to your overall financial plan," no one should assume that a longer working life is automatic, he adds. Taking care of yourself — exercising, eating the right foods and keeping active socially — "may not sound like a financial decision, but in some ways it is."

At the same time, people's health is not entirely within their control no matter how well they take care of themselves. That's where various forms of insurance come in, says Sandra Foster, a financial consultant and president of Headspring Consulting Inc. in Toronto.

While all Canadians enjoy government health care, people should also look at long-term insurance to ensure that their income is covered in case they get sick or become disabled, Ms. Foster advises.

"It's a matter of who will pay for your home care or long-term care when and if you need it," she says. "[Will it be] the government, you [as an individual] or your insurance?"

Insurance can also cover prescription drugs, she adds, though people should find out first whether they're eligible for government benefits before plunging into a policy.

According to Ms. Foster, a good time to check on whether or how well you are covered for disability or home care is when there is a change of circumstances, such as when you or your spouse are contemplating retirement or one of you takes a new job. "It's a good time to double-check and see what's missing and plug any holes."

One gap that people should not overlook is making sure they have proper travel insurance, even for short trips.

Unless you're insured, even a trip across the border for the weekend could put your finances or your health at risk. Ms. Foster advises, "Make a quick phone call [to your insurer] before you go to make sure you're covered."

This content was produced by Randall Anthony Communications, in partnership with The Globe and Mail's advertising department. The Globe's editorial department was not involved in its creation.