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.