INSURANCE & RISK MANAGEMENT

It is smart to regularly check that you have enough insurance coverage.

Your life and disability coverage generally should replace enough of your income so that your family's current and future needs are met -- including everyday living expenses, short- and long-term debts, education for your children, and retirement for your spouse.

Once you are eligible for Medicare at age 65, finding affordable medical insurance is a critical and complicated part of your retirement planning.

For most people who enroll in Medicare Part A and B, buying Medigap insurance is a good choice.  Medigap or Medicare Supplement plans provide coverage for some “gaps” in your Medicare coverage and can save you money.

One way to protect your assets during a health-related crisis is by purchasing long-term care insurance, which covers costs typically not paid by Medicare, such as nursing home care.

The policies can be a bit pricey, but in the long run, they may prove worth the expense.