Wednesday, April 15, 2015

Insurance needs are a factor in retirement planning

This week is National Retirement Planning Week, organized by the National Retirement Planning Coalition. The group aims to help people create a comprehensive plan for retirement, which can seem daunting or, for some, too far away to contemplate. Its website, www.retireonyourterms.org, offers tools based on your age, retirement and saving calculators and plenty of information about ways you can be prepared for retirement.

Insurance needs also should be factored into your retirement plans. Medicare plans carry a cost for premiums, doctor visits, prescription drugs and hospitalizations. However, Medicare typically does not cover long-term care, so some people opt for long-term care insurance to pay for home health care, adult day care, nursing home care or group-living facility care.

If you are considering annuities as part of your retirement planning, we have information about the benefits, the types of annuities and payouts.

Questions? You can contact our consumer advocates online or at 1-800-562-6900.