Baby Boomer (1946 - 1964)
If you’re ready to start thinking about retirement or a Chapter 2 adventure, Hibbits Insurance is here to help you navigate the waters.
Auto Insurance: For the Gen Zers in your household, certain makes and models have higher insurance costs and newer vehicles usually have higher costs. Take a driving safety course or driver’s education to lower your rates. Drivers aged 16-24 have the highest accident rates, so it’s usually wise to have more coverage than the minimum required by state laws.
Health Insurance: If you are over 50, you may wish to consider long-term care insurance because premiums are generally lower at this age than later. Are you 65 and ready to sign up for Medicare? If you are not yet 65 but plan to retire, what health insurance options, if any, does your employer offer.
Homeowners Insurance: This will protect a building and your personal possessions. It is also important to consider whether you need extended liability or umbrella coverage by determining if you wish to insure your home for replacement value or actual cash value. In the Lowcountry, it is important to know whether your home requires flood insurance.
Life Insurance: Is the term policy you purchased 20 years ago soon to expire? Should I purchase another Term, or consider a permanent plan to Age 100? While term insurance may have freed up your budget to support education expenses or other outputs while continuing to build your retirement savings, consider a permanent life insurance plan, or an annuity to build retirement savings.
Long Term Care & Critical Illness: With long term care costs rising, and more in home care options available for seniors, having this coverage pick up when your Disability Income plan expires can insure the funding for the proper care is there when you need it.