With the rapid decline of employer-sponsored pension plans, more of today’s retirees are responsible for providing a larger percentage of their retirement income. This situation is exacerbated by longer life expectancies, requiring retirees to explore other ways to create a reliable stream of income.
Some insurance companies have introduced “hybrid” contracts that cover both life insurance and long-term care.1These types of policies, along with annuities, can be part of a financial plan that is designed to help protect retirees from outliving their savings. We would be happy to help you assess your insurance needs and options; just give us a call at 251-625-1226 and request your free consultation.
1 Elliot Raphaelson. The Chicago Tribune. Jan. 3, 2017. “ ‘Hybrid’ insurance policies offer a way to cover long-term care.” http://www.chicagotribune.com/business/sns-201701032000–tms–savingsgctnzy-a20170103-20170103-story.html. Accessed Sept. 28, 2017.
Content prepared by Kara Stefan Communications for Safe Harbor Financial Services, LLC.