How To Make Retirement Savings Last (NAPSA)—If you’re one of the millions of baby boomers, you’ve probably worked manyyears to save for a comfortable retirement. With life expectancies on therise, many baby boomers are now focused on making their savings last through their retirement years. According to James Blackledge, senior vice president at Mutualof is Omaha, retirees should familiar- ize themselves with certain insurance products as they plan for their retirement years. “There are a numberof insurance products that can help preserve retirement assets,” Black- ledge said. “As they approach retirement, most people should look into whether Medicare supplement insurance, long-term care insurance or immediate annuities can help them with their goals.” Medicare Supplement Insurance If you're enrolling in Medicare, consider a Medicare supplement policy to cover out-of-pocket costs. Rising health care costs and the cost of prescriptions can add up quickly. Medicare supplement insurance is designed to cover expenses not covered by Medicare, including deductibles and co- insurance. When living on a fixed income, many retirees are more comfortable knowing they can limit out-of-pocket expenses. Long-Term Care Insurance Long-term care insurance can help ensure your savings won’t be wiped out if you were to need long-term care. As we age, the likelihood for needing long-term care increases. If providing for a living spouseor leaving an inheritance for heirs is important, longterm care insurance may be a good solution. A common miscon- Making sure you have enough green to last throughout your golden years may be easier with a little help from experts. ception is that long-term care insurance only covers nursing home care. However, many of the products currently offered cover a variety of services including home health care, assisted living and nursing homecare. Immediate Annuities A single-premium immediate annuity can guarantee a source of income for a defined period—or even for life—in exchange for a lump sum premium payment. Annuities can offer the familiarity of a paycheck after you've left the workforce. Single-premium immediate annuities are the only prod- ucts that can guarantee an income stream for the rest of yourlife. Some annuities offer flexible options such as return of premium, easy access to your money and higher payouts for those with certain health conditions. Not every insurance product is right for every situation. Blackledge advises working with a trusted financial representative to examine your needs and help you achieve your retirementgoals. For more information, visit www.mutualofomaha.com.
