Ken discusses life insurance options for seniors in today's episode, with special guest Lee Scher, a recently retired life insurance agent who still assists his previous clients. Lee shares his 28-year experience in the industry, beginning with his time at Northwestern Mutual, and being thrown into the deep end in his first week on the job.
Lee points out the significance of securing life insurance early, the differences between term, universal, and whole life insurance, and the financial benefits each provides. We talk about managing Social Security, and considering long-term care insurance to avoid unexpected medical expenses in later years.
Ken asks about potential life insurance scams targeting seniors, the role of final expense policies, and the benefits of Medicare supplements over Medicare Advantage plans.
Remember to take control of your financial planning to ensure a secure retirement! Although we all know that the earlier, the better, this episode will help you navigate financial literacy at any age and stage of life.
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