Retirement Insurance

Shawn Plummer

CEO, The Annuity Expert

What is Retirement Insurance?

Retirement insurance is a financial product designed to provide income or cover specific costs during an individual’s retirement years. It often includes annuities, long-term care insurance, and life insurance tailored for retirees. These products aim to secure a stable financial future, ensuring retirees can maintain their lifestyle without outliving their savings.

Types of Retirement Insurance

  1. Annuities: A contract with an insurance company where you make a lump-sum payment or series of payments in exchange for regular disbursements in the future. It helps manage income post-retirement.
  2. Long-Term Care Insurance: Covers costs of long-term care services, like nursing homes or in-home care, that aren’t typically covered by regular health insurance or Medicare.
  3. Life Insurance for Retirees: Adjusted life insurance policies that may offer benefits like estate planning or investment options.

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How to Get Retirement Insurance Quotes

Agents like The Annuity Expert can provide tailored advice and help find the best insurance based on your retirement plans and financial situation.

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Comparison of Retirement Insurance Types

Insurance TypeMain PurposeIdeal ForPayment Structure
AnnuitiesSteady income post-retirementThose seeking guaranteed incomeLump-sum or periodic
Long-Term CareCover long-term care costsIndividuals planning for health needsPeriodic premiums
Life InsuranceEstate planning, final expensesIndividuals with dependents or debtsPremiums based on policy


Retirement insurance plays a crucial role in securing financial stability in your post-work years. Understanding the different types and how to obtain quotes is essential for making an informed decision. With the right insurance, you can ensure a comfortable and secure retirement. Contact us today for a free quote.

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Frequently Asked Questions

Is there 401k insurance?

FDIC coverage is unavailable for most 401k plans, except for some assets in a self-directed 401k plan like a solo 401k. However, bank accounts like CDs in a self-directed 401k plan can be insured if the bank is an FDIC-insured institution.

What type of insurance do I need when I retire?

It is advisable to keep life insurance if you retire with debt or have dependents such as children or a spouse. Maintaining life insurance during retirement can also be beneficial to cover estate taxes. If you possess a cash-value life insurance policy, it’s essential to consider any tax ramifications that may arise if you decide to terminate the policy.

Is Social Security retirement insurance?

The Social Security program is an insurance program where workers contribute by having a portion of their earnings withheld from their paychecks. If workers are self-employed, they make their contributions when they file their federal tax returns.

How do you get extra money added to your Social Security check?

Working for additional years can boost your retirement benefits by replacing zero or low-earning years in your Social Security benefit calculation. Your lifetime earnings determine the amount of retirement benefits you receive from Social Security.

How much money should be in a retirement plan?

According to financial advice, you should save six times your salary in an account by age 50 and eight times your salary by age 60. By age 67, your total savings goal should be ten times your current annual salary. For instance, if you earn $75,000 per year, you should aim to have $750,000 saved by age 67.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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