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In case of a loss, a deductible is the sum that you are accountable for paying out-of-pocket, while the insurance covers the remaining amount. 

Annuities are a type of financial product that offer a range of benefits to investors. One of the most significant benefits is the opportunity to receive a fixed income stream for a specified period or even for life. This feature can provide retirees with a stable and predictable source of income, which is especially important for those who may have limited sources of income during retirement. Another advantage of annuities is their tax-deferred growth potential. Earnings on an annuity are not subject to taxes until they are withdrawn, which can help investors maximize their savings over time. Additionally, annuities can offer a variety of options and features, including death benefits and long-term care coverage, which can help individuals and families better manage their financial risks. Overall, annuities can be an attractive option for those seeking a reliable and predictable source of income, along with potential tax benefits and additional features.

If you enroll in Medicare during the Initial Enrollment Period (IEP) within the first three months, your coverage will begin on the month you turn 65. In case you enroll in the birth month, benefits will start the following month. However, if you enroll one month after your birthday, you will have to wait for two months before your coverage begins.