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Old age typically brings medical problems and increased healthcare expenses.
Living out your retirement years in comfort while also covering your medical expenses may turn out to be a burden too large to bear.
Without a well-planned retirement nest egg, you may be forced to liquidate your assets in order to cover your expenses during your retirement years.
Unforeseen illnesses, the financial needs of your dependents, and the uncertainty of Social Security and pension systems are but a few of the factors at play.
Group long-term disability policies offered by employers typically replace up to 60% of your income.
To ensure you have enough coverage, aim to bring your total coverage up to 80% o 90% of your take-home pay, including bonuses and commissions.
To achieve your retirement goals and objectives – you need to have the right amount of corpus to take care of your regular needs post retirement.