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Insurance Coverage for Older Pennsylvanians  

Our insurance needs change as we go through different phases of life. It's important to make sure you have the insurance coverages you need to protect yourself and your loved ones.

There are a wide variety of insurance coverages older Pennsylvanians may want to consider carrying.  Certainly, health coverage is one we ALL should have where other types listed here may not be necessary for everyone. Speak to a financial advisor or a trusted insurance professional for advice specific to your needs and goals.

Types of Insurance Coverages for Older Pennsylvanians

  • Health Insurance: When you retire, the health insurance coverage you provided through your employer will likely go away. There are several ways to obtain health insurance in Pennsylvania and the right one for you will depend on your specific situation. Visit the How to Get Health Insurance page to learn more.
  • Medicare Supplement: If you are age 65 or older, you likely will be eligible for Medicare, which covers much, but not all, of your doctor and hospital costs. Medicare supplement insurance covers expenses not covered by Medicare. Different plans are available, so do research to find out if one is right for you. Visit the Medicare Supplement Insurance page to learn more.
  • Life Insurance: Life insurance is, for many families, income replacement if something happens to the breadwinners. If the kids are gone, and your income is from investments, pensions, and Social Security, do you need as much life insurance as you did before? What about funeral and burial expenses? Visit the Life Insurance Seniors page to learn more.
  • Annuities: Annuities are insurance products that are often touted as providing income for life. These can be valuable income-producing assets, but they aren't right for everyone, and there are many different types of annuities. It's important to make informed decisions on what is best for you. Visit the Annuities for Seniors page to learn more.
  • Long-Term Care: The federal government says about two-thirds of Americans will need long-term care at some point. Whether to buy long-term care insurance is a tough question, as this coverage can be expensive, and it's not appropriate for everyone. Visit the Long-term Care Insurance page to learn more.
  • Continuing Care Retirement Communities: Also referred to as "CCRCs", Continuing Care Retirement Communities usually offer a range of care including independent living, assisted living, and skilled nursing care on one campus. Deciding if Continuing Care is right for you takes research. Visit our Continuing Care Retirement Communities page to learn more.
  • Homeowners Insurance: Your home is probably your biggest investment, so you want to make sure it is protected. Typical homeowners insurance covers losses or damage to your house and its contents caused by fire, weather, vandalism, and theft, the costs of additional living expenses if you can't stay in your home, and provides personal liability coverage and medical payments if someone is injured on your property. Visit the Homeowners Insurance for Seniors page to learn more.
  • Auto: Auto insurance is mandatory in Pennsylvania. Premiums will vary according to your circumstances like the value of your car, how much you drive, whether young drivers are on your policy, etc. but driver improvement courses will keep you safer on the road and entitle you to a mandatory five percent auto insurance premium reduction if you're 55 or older. Visit the Auto Insurance for Seniors page to learn more.
  • Travel Insurance: If you're traveling more in retirement, you may need to think about travel insurance. Visit the Travel Insurance for Seniors page to learn more.

After working hard and raising a family, you may now be thinking about retiring or have already retired. Insurance plays a major role in your financial security. Review what you have and consider potential changes in your insurance needs.  Avoid paying for things you may no longer need and be careful of ideas that sound too good to be true. A trusted financial adviser or insurance professional can be very valuable.

If you have any questions, please feel free to reach out to us toll-free at 1-877-881-6388.