Insuring Against 3 of Retirement’s Biggest Risks

What are retirement’s biggest risks?

So, the time has come for you to start thinking about retirement and you’re putting together your plan to make sure things run smoothly. You’re a planner, that’s good! Let’s look at some common risks in retirement and how we can safeguard against them.

Every day we face different threats that might upset our day-to-day routines. Sickness, disability, automobile accidents, a kitchen fire and the list could go on. Whether you give it much thought or not, you likely have a plan for these threats and chances are it involves insurance.

Let’s look at 3 of retirement’s biggest risks

  1. Healthcare expenses – Having a solid plan for healthcare expenses is crucial. Whether you choose Original Medicare with a Medicare Supplement, a Medicare Advantage plan or have continuing benefits in retirement, you need to know what your plan will cover and what your potential out of pocket costs would be in a worst-case scenario. An Insurance Broker can help you evaluate your needs and recommend a solution.
  2. Long Term Care – Long Term Care (LTC) is not covered by Medicare and according to recent studies nearly 70 percent of us will need long term care. That’s a surprising number that cannot be ignored. Traditional LTC insurance is one option and many find that it is just too expensive, but today there are additional options that we can explore like life insurance with Living Benefits or income annuities that double your income for a period of time if you meet certain requirements like confinement. Knowing your options is powerful; we can simplify those options for you.
  3. Outliving our savings – You have saved, you are ready to retire, but how long will your savings last? We are living longer and that is a risk that must be explored as well; how much risk can you take with your savings? There are ways to guarantee you don’t outlive what you’ve saved for retirement as well; setting up your own pension plan using insurance products guarantees that you will receive monthly income from your savings regardless of how long you live. Check out: http://fiainsights.org/video-gallery/ and watch the educational videos and contact us for more information.

Retirement benefits don’t have to be complicated.

Call Senior Benefit Solutions at 1-800-385-4820 and let us guide you on the path to “Retirement Simplified”.

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