Life is full of challenges and unexpected turns. Insurance policies protect you and your family and help avoid unnecessary emotional stress and financial burden. There are several different types of insurance. Some you may already have, while others may be worth exploring. Research on your own and talk to an insurance professional to find out which type of insurance is right for you.
Life Insurance
Health Insurance
Long-term Care Insurance
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Life Insurance
You've provided for your family, caring for them emotionally and financially over the years. Taking out a life insurance policy ensures they are provided for even after you've moved on. Insurance policies also have financial cash value that can be withdrawn or borrowed upon during your lifetime.
Your eligibility depends on various factors, such as your health and employment status. Premiums are calculated based on age, gender, health and occupation.
Do you already have life insurance?
If you have already purchased a life insurance plan, review your policy every few years to make sure the information is current and that it still meets your needs. If your life has changed since you purchased your policy, discuss these changes with your insurance representative. He or she may recommend adjusting your policy coverage.
- Have you been recently married or divorced?
- Do you have any children or grandchildren that were recently born or adopted?
- Has your spouse's health deteriorated recently?
- Would you like to provide care or financial help for a child or parent?
- Do you want to ensure that money is available for the long-term care of a loved one?
- Have you purchased a new home?
- Do you have children or grandchildren who are about to enter college?
- Are you or your spouse retired or planning to retire early?
- Have you or your spouse been promoted?
- Have you refinanced your home mortgage in the past six months?
- Have you or your spouse received an inheritance?
- Have you started a business?
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Health Insurance
Most retirees pay for health care costs with employer retirement plans, Medicare or Medicaid. Recently there's been an increased interest in Medicare Advantage Plans, which boost your benefits and coverage. For more information, visit the Paying for Health Care section of this website or click here.
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Long-Term Care Insurance
The earlier you plan ahead for long-term care, the better. While it's important to be positive and proactive about your health, it's equally important to prepare for the unexpected. Even if you are currently in perfect physical condition, you could still need help in the future.
When you hear "long-term care," what comes to mind? Most people immediately think of a nursing home. But long-term care has evolved and often includes in-home care, adult day care and even care provided through residential and assisted living facilities.
Remember, long-term care is expensive and only covered by Medicare in special, short-term situations. Long-term care insurance protects you and your family from paying out of pocket and gives you control over when and where you receive care.
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Order Resources
To order resources on insurance, click here.
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Helpful Links
American Association for Long-term Care Insurance
National Clearinghouse for Long-term Care Information
Texas Department of Insurance
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