In retirement after digging the gold- health and life insurance

In retirement after digging the gold- health and life insurance

If you are a trade unionist who is now retiring, you leave the workforce after a gold rush of paid disease costs and lucrative performance or pension plans. In 2003 the average service life rose to 77.6 years. Some argue that obesity and new diseases will stop the trend that Americans live longer. Since people live longer, the financial future of the pensioners of tomorrow is on the game.1 When they retire, they have time to dig financial reports, find gold nuggets of understanding about the US economy and to view their golden prey with their tax advisor. Investment broker, insurance specialist and lawyer. It is here and now while in their professional years they still swing the pointed hacke, where the time can be your best friend and mentor. Know and understand what exactly you have put aside and how you can protect or multiply the savings for which you have worked so hard. So when will you call it "completed" and let the upper management and the staff of the HR department know that you will retire? In today's world it is a "win-win situation" if you get the best available financial advice when you consider your retirement options.

knowledge is power

Before you hand over your protective helmet, ask your HR department for a printed copy of your medical services, disability and life insurance services or other services that you are offered as a pensioner. Many employers now allow their employees to access this type of information online via a personal computer with a PIN (personal identification number). If you don't have one, ask your HR department to help you get the right information to get your information online. If you do not feel right to get information online via the computer, ask your HR department for help.

Health insurance: Are the Big Buck Days almost over?

General Motors (GM) spent $ 5.6 billion in 2004 to provide 1.1 million active and retired employees and their relatives. In 2003, health expenditure was $ 1,525 for every GM vehicle manufactured in the USA. 69 % of the beneficiaries of health insurance are pensioners.2 If you are preparing for retirement and sixty -four (64) years old, you have to look at your health insurance or medigap. Be prepared that your union, as well as GM, will make future changes to your current medical plan.

Many families already know about rehabilitation therapy and how important they are to trigger events such as stroke or heart attack. In the case of Medicare Supplement (or Medigap), Julia Apple (name changed) was really helped by the policy that had completed her company in retirement. Julia had a very heavy stroke that made a side of her body weak, and for about three (3) months she needed rehabilitation therapy. The costs of the first one hundred (100) days of their rehabilitation therapy were covered by their Medicare and Medigap contracts.

The focus of health insurance coverage in retirement is: Medicare, the state -funded health insurance for pensioners, Medigap, a privately paid supplement to statutory health insurance, and long -term care insurance. Medigap insurance can often be taken out by your company if you retire.

Medigap offers a large selection of additional medical services that Medicare does not offer, such as: B. Rehabilitation. These additional services are categorized individually as AJ. For every letter A, B, C, D, E, F, G, H, I and J you will find a kind of medical care, such as hospice care. A medigap policy differs from state to state and from insurance sponsor to insurance carrier. In Indiana, contact an independent insurance expert to seek advice on how to receive a medigap coverage, or contact your local Senior Health Information Program (Shiip) office to receive information and transfers: 1-800-48-4800 or on the Internet at: http://www.in.gov/idoi/shiip

The biggest financial problem is what to do and how to deal with it when Medicare and Medigap's insurance benefits expire. Here, long -term care insurance comes into play and offers income to be cared for to compensate for the expenses. In 2004 Genworth, a large insurance provider for long -term care, estimated the nationwide average costs for long -term care at $ 75,000.00

Life insurance: Is that cat gold?

Even if it may be tempting to respond to direct mailing offers that you receive by post or inquiries on TV, there is nothing better than a personal conversation with an agent who can meet you at home or in the office to discuss your situation.

Many of today's pensioners have no permanent life insurance. However, you are insured by your employer. Meet with an independent life insurance agent of a company with good financial ratings and ask him to check or check your policies. You can find out whether the insurance company you have with your employer is transferable and whether it would be affordable for you to convert you into permanent policy when retirement. In many cases, a competent insurance expert can help you determine the type of cover that you should have. If you are not sure about the advice you receive, get a second opinion from another representative of a highly rated company with a local sales office.

life insurance is not a cat gold. It can help your family have an income if they die; Retirement income can be supplemented, borrowed and can help you minimize the financial stress for the people you love in your most critical hour.

footnotes

1 Sage News, A Longer Walk Into the Sunset, March 21, 2005.

2 Detroit News Auto Insider, April 8, 2005.

3HE American Health Care Association, Contemporary Long Term Care, November 1998.

4 Metlife Market Institute, July 2000.

5 Kiplinger’s, your money, June 2004.