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With a spouse and children, your far-out retirement isn’t often on your mind. The decisions and plans you make now, however, will greatly affect how you spend your golden years and in what state of comfort. Securing your insurance needs for your future retirement now will help ensure you and your family a happier future.

Life Insurance and Annuities

During retirement, it’s likely social security won’t cover all the expenses your life will require. However, lifetime annuities can provide you with a consistent paycheck that will make sure you don’t run out of money before your death. After death, however, you will also want those you’ve left behind to be able to survive financially. Life insurance pays out after your death to beneficiaries of your choosing, in exchange for regular payments you pay while alive. Both of these types of insurance will help secure your needs during retirement.

Health Insurance

The important thing, when preparing to retire, is to make sure your health is covered. Healthcare costs will likely be the highest bills you pay during retirement, and for that reason enrolling in Medicare or Medicaid will become essential. Medicare is specifically for seniors 65 years and older regardless of their health and provides flat rates that cover 80 percent of your insurance bills after a $140 premium. On the other hand, Medicaid can help cover long-term care if you have a low income. To qualify you don’t even need good health—just to have worked in the United States for at least a decade.

Vision and Dental Insurance

It’s the sad truth, that some things stop working properly as people get older. Seniors are prone specifically to dental issues and vision impairment, both of which are not usually covered by Medicare or Medicaid. For that reason, adding dental and vision insurance policies are not the unnecessary expenses that they may sometimes seem, but essential add-ons to regular health insurance that you won’t regret later. Consider these and other types of insurance that will benefit your specific circumstances.

With your health insured and family secure, your retirement plans will be worth the stress now for your stress-free golden days later. Though insurance can seem complicated and expensive, understanding how it works and how it will benefit you is important in making your retirement plan match up with its reality. Look at what policies you should invest in now to enjoy the benefits in the years to come.

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