Insurance
Creating a plan of coverage for when things go wrong and recommending options based on your specific needs. There is no one-size-fits-all approach to insuring the most important things in life.
Insurance with your needs in mind
While everyone needs car, homeowners and health insurance, there are specific types of insurance that are very pertinent to seniors or retirees. Some senior insurances are detailed below, and the failure to have any of these protections could be the difference between a comfortable retirement and years of heartache.
Strategic Partners
Adams Insurance Services LLC provides insurance and protection solutions for covering life-long needs such as home and auto coverage.
Everyone needs insurance but is your coverage aligned with your current needs?
Overview & Resources
Life Insurance
It’s true the most common reason to get life insurance is to replace income for a family should you die and your income stops. Life Insurance can also be used to pay off a mortgage or fund a child’s college education. Seniors or retirees, who are not dependent on their labor for income, have different needs. Therefore, it seems that senior life insurance would be superfluous. But life insurance for seniors has other uses and can solve multiple problems, such as providing liquidity at death for a surviving spouse, ease of estate settlement and division, creating a pool of money for special needs – to create an estate and to pay estate taxes.
Health Insurance
No one should go without health insurance. We can navigate the insurance options for individuals, families, and small businesses of 2-500 employees. Keep in mind, senior health insurance is different because private insurance is required in combination with government coverage. A typical senior health insurance program would include Medicare. But you will also need to supplement those health care costs with private insurance, or Medigap coverage, to cover what Medicare doesn’t.
Final Expense Insurance
While it’s true that a funeral can easily cost $20,000, most people of any means have the financial resources to cover their funeral, so special insurance may not be necessary. However, it is an excellent idea to have a funeral program structured so that your heirs don’t need to take on this burden at their greatest time of grief. It could make sense to combine your funeral arrangements with funeral insurance as a package that relieves heirs of all financial and funeral planning concerns.