Will You Live Long Enough To Retire?
The headline is a loaded question. Many ways to answer, but here’s what I’m getting at…
While waiting to have my oil changed I picked up today’s Lancaster newspaper. My wife Lori is a native of Lancaster County and has obviously influenced me…as I felt myself opening up to…no, not sports…no not the local section…but rather to the… obituaries section! All Lori cares about (being Lancastrian to the core) is who died, who got divorced and who had a kid. Period. Debt ceiling? What’s a debt ceiling?
Anyways, it sure seemed like a lot of “young” people in the obits today. Of the 19 listed, 8 were 63 or less. 63? My in-laws are that age. My sisters are already that old. Wait, aren’t we supposed to retire at 65? How can we die before we got to live the good life in retirement? Don’t men live to be 78? And women, 80? Of course those are averages. I am surprised at how many make up the “less than average” group. Now this is a small sample on a given day, however…
Last month I looked at 2 consecutive weeks of the Sunday paper, which reprints the obits for the whole week. 1 in 3 did not make it to age 70. Since that discovery, I mention it to every couple I meet with. I ask, “At what age do you think you will retire? How long do you think you’ll live?” Minus the jokes we all make, the retirement number is mid 60ish, and the life expectancy is 80+ (surprise, nobody thinks they are average!)
Statistically, 1 of the 3 of us at the customer’s dining room table will not make it to 70. Not a happy thought. This brings me around to life insurance again. That measly $26/mo. policy I just wrote for a quarter milliondollars for 30 years on a 31 year old guy, might just get paid out. I hope not! But…
So what age do you think you’ll be when YOU retire? Here’s hoping you make it! And here’s hoping you’re insured even beyond that.
No More Pennsylvania Adult Basic!
As of 2/28/11 the state of Pennsylvania ran out of dollars to fund its’ Adult Basic health coverage. About 40,000 individuals across the Commonwealth are scrambling to get something in place. The options are many, the affordable options are few. I may be able to help. Give a call: (717) 468-0130.
Vision Insurance
This is the best deal in the business! For $3/mo for one person or $7/mo for the whole family you can have really affordable coverage for eye exams, glasses and contacts. Wathc the video, send me an e-mail (broweems@ptd.net) or give me a call (717-468-0130).
Do You Have Dental?
When I talk to prospective clients for health insurance, about half the time the question, “Do you have dental?” comes up. There are no really fabulous dental insurance plans and you can probably imagine why. An insurance company makes money when they don’t have to pay claims. Most people are very healthy and rarely have a claim, so the insurance company is making $$$. But give someone dental insurance and they’ll go as often as they can! That COSTS the insurance company money. Nonetheless, they are some possibilities. Watch the video, send me an e-mail (broweems@ptd.net) or give me a call (717-468-0130).
Am I Paying Too Much for Health Insurance?
Whether you are looking at your pay stub and looking at the deduction for your health insurance, or looking at your bank statement and seeing the autodraft of another month’s health insurance premium…from time to time you wonder if you are paying too much for health insurance. What should you do?
Should I Self Insure or Use My Employer’s Health Plan?
As the cost of health care rises in this country, employers may be paying less and less toward your health benefits. It’s very common for the company to pay a lot for you the employee, but very little for your spouse and/or kids. It’s worth it to look at options to self insure.
Catastrophic Health Insurance
Okay, so you’re super healthy, and rarely go to the doctor…AND you don’t want to spend a lot on health insurance. Perhaps the answer is coverage just for catastrophic events, major illness or horrible accident. But is this all you need?
Wow, Term Life Insurance is Cheap!
Rates have come down dramatically in term life insurance in the last few years, due to the fact that we are all living longer, and the insurance companies haven’t had to too many claims.
What is a PPO?
A PPO is a Preferred Provider Organization. The preferred providers, doctors and hospitals, are your “in network” service providers. You get a negotiated, reduced cost for services in network, you pay more outside the network. The vast majority of health plans are PPO.
Insurance for the Self-Employed
If you are self-employed you do not have the luxury of having insurance benefits offered by the company you work for. The good news is…you can build a personal policy that includes what you want and leaves out what you don’t want. Group insurance is one size fits all, take it or leave it. When you’re on your own, it only has to fit you.