A recent poll by the Harvard School of Public Health, National Public Radio and the Robert Wood Johnson Foundation, entitled “Retirement and Health” revealed some interesting observations about the way we think about life, health and retirement.
When asked how long they expect to live, 40 percent of retirees expected to live into their 80s, 22 percent expected to live into their 90s and 10 percent of retirees expected to live to at least 100 years old.
Pre-retirees are anxious about the future and expressed a great deal of concern over financial matters – especially affordable health care. 31 percent of pre-retirees responded that it was very likely and 34 percent said it was somewhat likely that they would have trouble paying health-care insurance premiums in retirement, 30 percent said it was very likely and 38 percent said it was somewhat likely, they would have trouble paying for long-term care, if needed, and 27 percent said that it was very likely and 34 percent said it was somewhat likely they would have trouble paying overall medical bills for themselves or a spouse/partner.
The financial challenges facing recent retirees and pre-retirees are serious. Rising health care costs, volatile investment returns and the loss of market value in their homes has created great uncertainty for millions of seniors and aging baby boomers.
It is more important than ever to meet with financial advisors, insurance experts and estate planning experts to plan effectively for retirement and your future health care needs.
What you are asking for is basic libliaity insurance. It covers your for your libliaity in an auto accident but does not cover your car. If you are going to be added to your husbands policy eventually, you want to be sure that you have the same libliaity limits as him.I would suggest 100/300/100. It’s not too much more expensive than basic libliaity but it’s definately worth it. Minimum libliaity in your state is 25/50/10. That means the MOST that the insurance company will pay out if there is a loss is $ 25,000 per person, $ 50,000 per accident and $ 10,000 for property damage.So basically, if you hit an expensive car, or more than one car, the insurance company will only pay $ 10,000 for the damage to the vehicles you hit. Also, if someone sues you, they will only pay $ 25k per person at a max of $ 50k. That’s not very much at all. Getting 100/300/100 is definately worth it. Plus, there are many insurance companies that wont even give you insurance if you dont have at least 100/300/100 as previous insurance.PS in your state, iIf you have no insurance, you are required to show financial responsibility. This basically means that you have to prove to the DMV that you have at least $ 60k cash at any time. If you do not provide the department of motor vehicles with that proof then Yes, you are required by law to carry insurance.Hope this helps! Was this answer helpful?