Medicare Resources
It's important to understand your Medicare coverage choices if you're nearing age 65 or approaching retirement. Deciding which coverage will best meet your needs can be difficult and confusing. The Medicare cheat sheet below provides steps and resources to help guide you through the Medicare enrollment process.
Medicare Overview
Medicare Cheat Sheet and Request Form
Changes to Life Insurance Benefits at age 65
It is also important to understand how turning 65 affects your life insurance benefits. At age 65, your benefit amount reduces to 65% of the original benefit amount. At age 70, your benefit amount reduces to 50% of the original benefit amount.
For example, if you have a life insurance policy with a benefit of $100,000, when you turn 65 the benefit amount reduces to $65,000. When you turn 70, it reduces to $50,000.
Understanding these changes helps in planning effectively for financial security during retirement.
