Two new studies amplify the benefits—especially for women—of working with financial advisers, and provide insight into a changing demographic for life insurers.

Women approaching their retirement estimate they will spend $4,624 beyond what Medicare covers each year on health care for premiums, co-payments and deductibles, according to a Harris Interactive survey of 1,250 Americans more than $250,000 in household assets. Men estimate an average of $5,882; however, a 65-year-old couple would need an estimated $240,000 to cover medical expenses during their retirement years, plus long-term care costs.

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