Planning for your retirement

Planning for end of life also includes planning for what you need to sustain yourself and family after you stop working.

These needs fall under the general category of Insurance Coverage. What kind of coverage do you need?

  1. Monthly income to pay your bills for food, utilities,  rent if you do not own your home, etc.
    • How to get the monthly income?:
      • Company Pension
      • Social security payments if you are over 63 depending on when you were born and the new rules for social security
      • Monthly payments – from investments in variable or fixed annuities
  2. Insurance for Long term care that will pay for:
    • Care in your home
    • Adult day service centers
    • Hospice Care
    • Respite Care
    • Assisted living facilities (also called residential care facilities or alternate care facilities)
    • Alzheimer’s special care facilities
    • Nursing homes
  3. Health Care Insurance for Doctor Visits and Hospital care what is known as our every day health care
    • Doctor Visits
    • Emergency Room Visits
    • Health Checkups
    • Inpatient surgery
    • Outpatient surgery
    • etc.

Purchasing each of these products is critical to your ongoing well being but each product is quite complex and you need quality brokers to educate you about these products and to assist you with purchasing these products.

In the next group of articles we will cover each of these topics in more detail.

 

 

 

One thought on “Planning for your retirement”

Leave a Reply

Your email address will not be published. Required fields are marked *