text: Coordinating Medicare with other InsuranceInsurance
  Most of us know by now that age 65 we need to transition from a major medical health insurance plan to Medicare. At this point we have a few options we can look at.
  We can accept Medicare, we can look at a Medicare advantage plan which takes place of the government Medicare or we can add Medicare supplements to our Medicare plan to cover certain areas we feel may need enhanced coverage based on our own situation.
  Along with Medicare insurance, there are some other insurance options that the senior market should be looking at and owning.
  Life insurance is a key component in our retirement years as the death benefit can be used to back up our nest egg, provide a charitable donation, off set the cost of estate taxes and final expenses, leave behind gifts and college money for grandchildren etc. For some that didn't get to build a large nest egg, spending could be less restrictive in the early years of retirement knowing that an insurance policy will replenish the surviving spouse's nest egg.
  For those that don't have a life policy and may not qualify due to health reasons, final expense policies are available that can provide up to $50,000 of coverage.
  Long Term Care insurance reimburses the cost of home health care, assisted living expenses or nursing home facilities should the insured's health suddenly require such attention. This again helps protect the nest egg so that health care expenses do not take a toll on it. As Long Term Care can be costly, there are now Whole Life Insurance and Annuity options out there that offer riders which provide similar benefits as Long Term Care but without the cost.
  Critical Illness and Cancer policies are just that; if one is to face serious illness, usually vascular/heart, cancer or other illness. These plans pay cash settlements to the insured which in turn can be used to help pay medical bills, medical deductibles, time off work, and travel for family members, child care and more. The cash is in addition to the insured's major medical or Medicare benefits, long term care benefits or disability benefits. In other words, these type of polices don't coordinate with your other insurance and don't care about other insurance plans you own, they simply pay out.
  The senior market can be well protected if a simple review is done of their insurance needs. Not all products are necessary for everyone, nor can everyone afford to own all products. Your personal agent should be able to help you understand and coordinate benefits so that they fit with your retirement goals or needs.
  We are available for questions as well. www.insuranceslc.com
  I will discuss this option with my agent to know more about it in detail. I am actually planning to buy this policy for my parents and if this option proves to be beneficial I will opt for it. Thanks for sharing about this option.