{"id":799532,"date":"2019-09-17T07:00:32","date_gmt":"2019-09-17T13:00:32","guid":{"rendered":"https:\/\/www.summitdaily.com\/?p=371653"},"modified":"2019-09-17T07:00:32","modified_gmt":"2019-09-17T13:00:32","slug":"striving-for-longevity-youll-need-the-right-insurance-coverage-in-place","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/ksmt\/local-news\/striving-for-longevity-youll-need-the-right-insurance-coverage-in-place\/","title":{"rendered":"Striving for longevity? You\u2019ll need the right insurance coverage in place"},"content":{"rendered":"

Editor\u2019s Notes: This sponsored content was brought to you by Debbie Aragon, State Farm Insurance<\/em><\/strong><\/p>\n

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From health insurance to life insurance to assisted-living coverage, there are ways to ensure that living longer doesn\u2019t become a burden to yourself or your loved ones.<\/em><\/strong>
Getty Images<\/em><\/figcaption><\/div>\n<\/figure>\n<\/div>\n

Humans are unlocking the secrets to longevity, but as we strive to live longer, healthier lives, there are also logistical issues to consider.<\/p>\n

Debbie Aragon is a State Farm insurance agent who does her best to make sure local residents are prepared for their longevity by having the right insurance coverage in place.<\/p>\n

From health insurance to life insurance to assisted-living coverage, Aragon said there are ways to ensure that living longer doesn\u2019t become a burden to yourself or your loved ones.<\/p>\n

One piece of advice from Aragon: you don\u2019t have to wait until your senior years to think about these insurance plans. In fact, the earlier you get coverage in place, the more you can get out of it later in life when you really need it.<\/p>\n

Here are three types of insurance that Aragon can help simplify for anyone who\u2019s interested in learning more.<\/p>\n

1. Supplemental Medicare coverage<\/strong><\/p>\n

\u201cI try to demystify the Medicare process \u2014 it\u2019s more complicated than it needs to be,\u201d Aragon said.<\/p>\n

Aragon reaches out to anyone in her client database who is turning 65 in the next three months to help guide them through the Medicare enrollment process, as well as supplemental coverage plans.<\/p>\n

\u201cMedicare is good, but it\u2019s not comprehensive. Without a Medicare supplement, you could be spending a lot of money out-of-pocket,\u201d she said.<\/p>\n

Aragon helps her clients understand which supplement plan makes the most sense for each person. She also helps simplify drug coverage \u2014 Medicare Part D coverage.<\/p>\n

\u201cI\u2019m more than happy to discuss this or educate people about the Medicare process whether they\u2019re clients or not,\u201d she said.<\/p>\n

One of the biggest misconceptions about Medicare supplement plans is that you can switch plans easily down the road. Medicare supplement plans are not part of the annual Affordable Care Act open enrollment period, making it harder to switch plans. The pre-existing condition stipulation also doesn\u2019t apply, unless you\u2019re in the initial open enrollment period.<\/p>\n

\u201cIf you want to switch (Medicare supplement) plans down the road, you have to pass underwriting. If you\u2019ve developed some medical issues, you might not be able to switch because you might not pass the supplement insurance underwriting guidelines,\u201d Aragon said. \u201cSo you want to be with a company that\u2019s going to be there for you, pay your claims on time and not drastically increase your premium.\u201d<\/p>\n

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Debbie Aragon, State Farm Insurance.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n<\/div>\n

2. Life insurance with a flexible care benefit rider<\/strong><\/p>\n

If you\u2019re 50+ years old and you\u2019re shopping for long-term care insurance to cover assisted living or nursing home costs, that can get extremely expensive, Aragon said. Many insurance companies, including State Farm, aren\u2019t even offering that type of coverage anymore.<\/p>\n

From the insured\u2019s perspective, this type of policy is risky because you might end up paying a lot of money for the premium and never using the benefit.<\/p>\n

\u201cThat money you\u2019ve spent on the premium is lost and you don\u2019t get anything back,\u201d Aragon said.<\/p>\n

This is where a universal life insurance policy with a flexible care benefit comes into play. If you end up needing assisted living or nursing home care, you can borrow against a portion of the death benefit on the life insurance coverage to pay for that care.<\/p>\n

For example, if the death benefit on your life insurance policy pays out $500,000, but you borrow $150,000 of that money to cover nursing home care, the death benefit would now equal $350,000.<\/p>\n

\u201cYou still have the life insurance, which is the one claim you\u2019re guaranteed to have, so you know it\u2019s going to pay out eventually,\u201d she said. \u201cAnd around here, we\u2019re such an active community, there is an increased risk in becoming disabled from skiing or bicycle accidents. So, this isn\u2019t just about growing old \u2014 it happens to young people, too, who may need long-term care.\u201d<\/p>\n

3. Final expense life insurance<\/strong><\/p>\n

This is a smaller type of policy that covers burial expenses. Aragon said this policy is inexpensive, but it can be a huge relief for family members, and it can also provide peace of mind for the policyholder.<\/p>\n

\u201cIt can help your family pay for burial expenses so you\u2019re not leaving that burden with your family,\u201d Aragon said.<\/p>\n

via:: Summit Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Editor\u2019s Notes: This sponsored content was brought to you by Debbie Aragon, State Farm Insurance From health insurance to life insurance to assisted-living coverage, there are ways to ensure that living longer doesn\u2019t become a burden to yourself or your loved ones.Getty Images Humans are unlocking the secrets to longevity, but as we strive to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"class_list":{"0":"post-799532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-24 05:31:52","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSMT The Mountain","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/ksmt","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/799532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/comments?post=799532"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/799532\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/media?parent=799532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/categories?post=799532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/tags?post=799532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}