Call Us 580-772-7101 ☰ ˟
580-772-7101
Logo
  • Home
  • Get A Quote
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • FarmImage of right arrow
      • Farm Quote Request
      • Livestock Mortality
    • Flood
    • HealthImage of right arrow
      • Health Insurance Quote
      • Disability Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Manufactured Home Quote
      • Homeowner Flood Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Restaurant
    • Trucking
    • Watercraft & Boat
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • MotorcycleImage of right arrow
      • Request ID Card for Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Motorcycle from Existing Policy
      • Add Driver to Existing Motorcycle Policy
      • Remove Driver from Existing Motorcycle Policy
    • Recreational VehicleImage of right arrow
      • Request ID Card for Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Recreational Vehicle from Existing Policy
      • Add Driver to Existing Recreational Vehicle Policy
      • Remove Driver from Existing Recreational Vehicle Policy
    • Watercraft & BoatImage of right arrow
      • Request ID Card for Watercraft Policy
      • Add Watercraft to Existing Policy
      • Remove Watercraft from Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About Magill Insurance Agency, Inc
    • Our Locations
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Home > Blog > A Senior’s Guide to Insurance
THURSDAY, JUNE 14, 2012

A Senior’s Guide to Insurance

As a senior, you're either heading toward or deeply entrenched in retirement. You might think that, since retirement changes so many parts of your life, it will also change how you handle insurance—and you may be right since insurance can be even more precious as you age.

Home and Renters Insurance

Home InsuranceMany seniors no longer have the luxury of earning income for decades as they did when they were young. That means that the assets a senior has acquired are even more important to protect since replacing them might be impossible with just their retirement savings. Home and renters insurance offer great ways to affordably protect the value of your assets and help replace them after an insurable incident. Just keep in mind that, since many seniors decide to downsize after retirement, you may need to adjust your limits.

Long-Term Care Insurance

According to the American Association for long-term care insurance, 42 percent of people age 65 and over reported having a limitation in their functional abilities and 18 percent of them had difficulty with at least one of the activities of daily living (ADLs). The chances that you will need long-term care insurance benefits as you age are great. This coverage will help ensure that your family doesn’t need to access savings or sell assets in order to provide you with the care that you’ll likely need when physical limitations prevent you from caring for yourself.

Life Insurance

Once you retire, your retirement savings offers a limited pool of funds to help support you through an unknown number of years. Depending on how these funds are invested you may gain some or you may lose some but, unless you continue working through retirement, you will probably not add anything significant to them. A permanent life insurance policy can become an additional source of funds if you choose to take tax-free loans from the cash values. In addition, the death benefit ensures that you’ll leave a legacy to your heirs even if you deplete your retirement savings.*

Our agency is here to help you navigate through challenges associated with insurance planning for seniors. If you have questions about your insurance portfolio or need to add additional coverage, give us a call at Magill Agency or stop by.

*It's important to note that any unpaid loans taken from a life insurance policies cash values will reduce the death benefit.

Posted 5:13 PM

Tags: oklahoma home insurance, renters insurance, long-term care, life insurance, oklahoma
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2014
  • 2013
  • 2012
  • 2011

  • insurance(27)
  • oklahoma(26)
  • home(12)
  • weatherford(12)
  • ok(10)
  • homeowners(8)
  • house(5)
  • liability(4)
  • coverage(4)
  • property(3)
  • claim(3)
  • home insurance(3)
  • oklahoma home insurance(3)
  • policy(3)
  • oklahoma city(2)
  • weatherford homeowners insurance(2)
  • health insurance oklahoma(2)
  • livestock insurance(2)
  • life(2)
  • valuables(2)
  • weatherford home insurance(2)
  • auto insurance(2)
  • oklahoma health insurance(2)
  • oklahoma life insurance(2)
  • oklahoma business insurance(2)
  • farm(2)
  • renters insurance(2)
  • health insurance ok(1)
  • oklahoma insurance(1)
  • farm liability(1)
  • teen drivers(1)
  • limit(1)
  • declarations page(1)
  • campsite safety(1)
  • recreational vehicle insurance(1)
  • life insurance(1)
  • protection(1)
  • tips(1)
  • coverages(1)
  • ownership(1)
  • police(1)
  • home insurance quotes(1)
  • hmo(1)
  • low insurance premiums(1)
  • ok home insurance(1)
  • apartment(1)
  • business(1)
  • ok health insurance(1)
  • discounts(1)
  • auto insurance rates(1)

View Mobile Version
Logo
Quick Links
Home Our Products Customer Service Online Payment Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Location
322 E Main PO Box 549
Weatherford, OK 73096

Phone Number: (580) 772-7101
FaxNumber: (580) 772-7439
Social Social
© Copyright. All rights reserved.
Powered by Insurance Website Builder