Updated

Updated · Wink News · Jul 7

WINK News Urges Seniors to Review 3 Insurance Options to Protect Retirement Savings

Updated

Updated · Wink News · Jul 7

WINK News Urges Seniors to Review 3 Insurance Options to Protect Retirement Savings

1 articles · Updated · Wink News · Jul 7

Southwest Florida seniors are being urged to revisit life, long-term-care and Medicare supplemental coverage as rising living costs push some to tap retirement funds for basic bills.
Life insurance can preserve money otherwise set aside for funeral costs or inheritances, and whole life policies—though expensive—can also serve as a cash reserve while the policyholder is alive.
Long-term-care coverage may help pay for in-home caregivers or offset future facility costs, turning a monthly premium now into protection against larger expenses later.
Medigap plans can cover co-pays, deductibles and other out-of-pocket medical bills that might otherwise force retirees to draw down savings.
WINK News said seniors should compare multiple quotes and weigh any policy change with a financial professional before adding new monthly insurance costs.

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As living costs rise, can seniors afford the very insurance policies meant to protect them?

Nearly 70% of seniors will need long-term care, so why do only 3% have insurance to cover its staggering costs?

With Social Security's future uncertain, is private insurance now the only safety net for American retirees?

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