noun
1.
A Deductible is the amount of money a policyholder must pay out of pocket before any insurance payments are made. For example, if repairs to a personal vehicle cost $1,000, but the Deductible on that Policy is $500, the policyholder must pay $500 toward the repairs before the insurance company covers the other $500.
Many older people think it's too late for life insurance. Actually, life insurance can be part of a sound financial strategy for people in their 60s and 70s as well.
Though we don't like to think about it, all of us will make an exit sometime. Are you prepared?
Understanding the types of extended care services—and what those services could cost—may be critical.