Insurance After 60 – Why Is It a Good Thing?

It’s often an assumption, as we head towards our golden years that life insurance policies from our previous years will cover the rest of our lives. But there is always an unforeseen situation knocking at our door. Now, a question paves its way into your mind: “Why get insurance after 60?”

Irrespective of our age it is important to understand how insurance for senior citizens may help:

  • It could be the tiniest things like getting a health check-up;
  • Or it could provide a safety net to allay our fears of being robbed while we’re away on vacation.

Let me walk you through an array of situations and things that no one told you about insurance!

1. What if your children are financially dependent on you?

Insurance

Owing to late marriages or just different life choices, our kids might be still dependent on us to cover educational costs? Do our daily expenses post 60 have the capacity to cover this? Maybe that little premium we would pay for the insurance would come in handy when times get tough.

 

2. Hassle-free medical benefits with health insurance for senior citizens

Health Insurance

Old age often comes with a lot of health concerns. Imagine if you or your spouse require a hospital visit every fortnight. Health insurance here, becomes your knight in shining armour, saving you from the hassle of worrying too much about finances and getting the best medical support.

 

3. Have you thought of travel insurance?

Travel Insurance

As our golden years approach, we have the time and we make plans to travel. Why spoil the ecstasy of globe-trotting with the trickling anxiety about losing our luggage; maybe losing our wallet, or losing something precious? These “maybes” take the form of “what ifs” and this anxiety keeps us away from peace. Don’t you think the beautiful lines that have aged fine, deserve better? So, let travel insurances take care of your worries.

 

4. Home Worries

Home Insurance

We were so sure that there wouldn’t be any leakage this time, and then one fine day we actually see the water leaking through our roof, forming cracks, damaging our home. Can we take care of these unforeseen house expenses? Don’t you think home insurance is a must to help cover these situations? After all, we want our homes and all the memories to be as blemish-free as possible.

 

5. Wouldn’t you want to be independent?

Independent

Our children will definitely take care of us when the need arises, no doubt. But, won’t it be better in these times of inflation and rising costs, to free them and ourselves of this worry completely?

It is important to live with a sense of security – the feeling that our future health needs will be taken care of no matter what.

That’s the magic of insurance post 60. It lets us live our golden years with a sense of security, despite the uncertainty of the future – acting as a safety net for our loved ones and us – allowing us to live and enjoy this inn called life peacefully.

Read more:

Travel Insurance- Why Do You Really Need It?

5 of the Best Post-Retirement Reads for Senior Citizens