3 things seniors should buy for protection
With inflation remaining unpredictable and a possible recession in the air, many Americans find themselves more closely examining their purchases and investments. For seniors on a budget, these considerations are particularly important. With limited income and set bills to pay each month, seniors need to be particularly judicious about what they spend their money on.
With that in mind, there are some products - financial and otherwise - that seniors may benefit from purchasing. These products and services can offer economic, health and security advantages that may be especially appealing to older adults - and they don't need to break the bank to get them. In fact, the below products can be all be purchased from the comforts of home.
As is the case with most personal financial considerations, the benefits of each of these items are specific to the individual's personal circumstances. However, the security benefits these products and services offer may be worth the price.
3 things seniors should buy for protection
Here are three things seniors should consider buying now to protect themselves.
Life insurance
Granted, life insurance isn't something many seniors considered valuable. The cost of a policy can be prohibitive and the payout they can get (think under $50,000) may not be enough. But, for some seniors, a life insurance policy may prove to be a cost-effective and reliable way to help meet goals.
Life insurance, for example, can be used to cover end-of-life expenses, thus freeing your loved ones from having to pay for things like a wake, funeral and burial service.
A policy can also help reduce or eliminate any outstanding debt that you would otherwise pass on to your beneficiaries. It can also pay any estate taxes on an inheritance you leave. Or it can simply be used as the inheritance you pass on to loved ones in the absence of any bank savings or home equity.
So don't discount the benefits of life insurance. It may not offer you physical protection, but the financial protection it can provide your loved ones is priceless.
You can start by getting a free price estimate online now so you know exactly what to expect.
Medical alert systems
If you're concerned about your health - and what could happen in an emergency - then consider protecting yourself with a medical alert system.
A medical alert system installed in your home can help notify emergency services whenever you may need them - day or night, weekend or holiday. There is a wide range of types and services available so you can tailor the coverage to what works best for you - and eliminate any unnecessary equipment or surcharges.
Costs for medical alert systems vary based on the type and any additional features you would like, although they generally cost between $20-$40 a month (not including the price for equipment and installation).
Install a medical alert system and start getting protected around the clock. With select promo codes, you can save up to $100 on a system by acting now.
Home security systems
Home security systems are beneficial for homeowners and renters of all ages. But if you're an older adult living alone or a senior taking care of a spouse, the benefits of a home security system are especially attractive.
Home security systems can protect your home when you're away - and when you're inside of it. Systems are typically user-friendly and can be easily customized to your specific needs.
Like medical alert systems, you'll pay for the equipment and installation to start. And then a minimal charge each month. In exchange, you'll have professional security and monitoring services around the clock.
Of the three items listed here, home security systems will provide the most tangible, visible protection. By answering a few quick questions online now you can find out what a home security system would cost.
The bottom line
The above list is not an exhaustive one. Each senior's personal circumstances are different. But the above three items can help protect their finances, their health and their home.
Start with financial protection by getting a free life insurance quote online today.
