As you prepare for retirement, this is an important time to address additional care and expenses that you may face.
Hospital Indemnity & Cancer Plans
Additional financial protection is available through indemnity plans. These plans pay daily, weekly or lump-sum cash benefits directly to you in the event you are hospitalized, suffer a heart attack or stroke, or are diagnosed with cancer. In addition to the medical costs associated with these conditions, beneficiaries often face additional expenses as well. Indemnity plans can help cover the out of pocket expenses for treatment and provide additional financial resources and peace of mind when it’s most needed.
Short Term Recovery Care
One of the greatest financial risks you or your spouse may face in retirement is the need for custodial care either due to a cognitive impairment (like dementia or Alzheimer’s) or the inability to perform two or more activities of daily living. Basically, the need for daily or 24-hour care at some point in life. Short Term Recovery Care provides daily benefits for up to a year to cover the costs associated with custodial care, whether at home, in assisted living, or in a skilled nursing facility.
Final Expense is a whole life insurance policy that provides permanent coverage until age 100, with no increase in premiums. Benefits are payable to your spouse, children, or other beneficiary in the amount that you choose; giving you the peace of mind knowing that your family members will not be burdened with the costs associated with carrying out your final wishes.
While your Medicare Advantage or Medicare Supplement plan may include coverage for medical emergencies while traveling abroad, you may need a more robust policy to cover other expenses that you may face, such as medical evacuation, return of mortal remains and trip interruption. Travel insurance is an affordable option to give you peace of mind while seeing the world.