The cost of healthcare in our country has been rising steadily over the last 40 years. According to a recent study by the Kaiser Family Foundation, since 1970, the cost of healthcare has risen at almost 10% per year. The average annual healthcare expenses for people age 65 and older was almost $9,000 per person in 2006! With these numbers, it’s easy to see how the cost of healthcare can eat away at a retirement nest egg and reduce the standard of living of many retirees.
Fortunately, there are solutions to protect you from some of the costs of healthcare in later life. Long term care(LTC) insurance is designed to assist folks in paying for costs associated with in-home healthcare, nursing facility, and conditions such as Alzheimer’s that require structured care. Medicare supplement policies are designed to help you pay for out-of pocket expenses that Medicare doesn’t cover.
Medicare Supplement and Long Term Care insurance can help protect your retirement income. If you would like more information on these solutions, call Puritan Life at 800-513-3243. Your Puritan Life Representative would be happy to discuss healthcare protection options with you.
Puritan Financial Companies is a diversified financial services firm specializing in helping people from their peak earning years through retirement to secure their financial future. Visit Puritan Life Insurance at www.puritanlife.com. The information contained in this blog post is for informational purposes only and should not be construed as legal, tax, or investment advice.
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