Tom Hamaide, identified at the meeting as a Bankers Life manager and certified financial planner, told attendees at the Village of Dolton’s "Tea with the Trustees" presentation that people approaching or in retirement face four principal risks: immediate healthcare costs under Medicare, long-term care needs, life insurance/legacy planning and retirement income management. The event took place during the village’s monthly outreach gathering.

Hamaide said Medicare Parts A and B form a baseline of coverage but leave gaps that many people cover with Medicare Supplement or Medicare Advantage plans. "There's still a lot of pockets with that, and you, at that point, you want to absorb them by having a Medicare Supplement or Medicare Advantage Plan to minimize your out of pocket expenses," he said.

He described long-term care as a separate and expensive risk often not covered beyond roughly 100 days under standard Medicare arrangements. "When we look at the probabilities ... you'll find that 70 percent of the folks that are in retirement will need this," Hamaide said, urging early planning and noting that long-term-care coverage is typically easier to obtain while a person is in good health.

On retirement income, Hamaide urged attendees to consider products that balance growth and principal protection, describing fixed-indexed deferred annuities as one option that can participate in market gains without principal loss in down years. He also explained required minimum distribution rules that begin in the 70s, saying they serve as a tax-trigger point for retirement accounts.

The adviser took questions from the audience and offered a sign-up sheet for follow-up meetings. He reminded attendees that he is paid when clients choose products through his firm and emphasized his role as a presenter of options: "We want to inform you, give you the information you need, try to have you maybe reposition what you have so that you can actually be in a better position," he said.

The presentation concluded with applause and an invitation for residents to leave contact information on a sheet provided at the meeting if they wanted the presenter to follow up.

Next steps: attendees who want a personal review were directed to leave their name and phone number on the table at the back of the room.