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What is a Longevity Annuity?

Longevity insurance is an annuity policy specifically designed to provide lifetime income to individuals who expect to have long lifespans. It’s like the opposite of life insurance: whereas life insurance insures loved ones in the event that you die prematurely, longevity insurance insures that you’ll have money if you live an unusually long time.

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ANNUITY FYI’S TOP LONGEVITY ANNUITIES PICKS

Company Product Name
security-benefit-logo Secure Income Fixed Indexed Annuity
metLife_logo Longevity Income Guarantee
prudential_logo Defined Income Variable Annuity
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FROM OUR BLOG

QLACs Hedge Against Longevity Risk

For those nearing or in early retirement, the fear of running out of money is a very real concern. Enter …

Wells Fargo and MetLife Partner for New QLAC

In an effort to help their clients eliminate the risk of outliving their retirement income, Wells Fargo Institutional Retirement and …

Ideas to Increase Retirement Income

Having enough money to support a full retirement is a concern of most pre- and current retirees. The financial experts …

ADVISOR INSIGHT

“Longevity insurance is often thought of as a way to provide income from an age you select in the future, say age 80 or up to age 85 for the rest of your life. Longevity insurance is therefore a type of deferred income annuity (DIA). All DIAs are single premium income annuities where the payments begin at least one year later. The most efficient pricing for longevity insurance will be life only, which means you may or may not receive a benefit. Return of premium death benefit options will protect this asset for your named beneficiaries, although the pricing will be more expensive.

Longevity insurance is a way to provide protection against the cost of living longer than you planned or expected to.”

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Scott M. Sadar, Certified Financial Planner™

Annuity FYI Expert

ARTICLES & GUIDES

The bottom line: Allocating part of your IRA to longevity insurance, particularly a QLAC, is probably a smart move.

The Annuity That Pays for Itself

Annuity purveyors, as well as annuity buyers, have a life, and they may be excused for feeling criminalized by the…

Bob Pozen

Even Bob Pozen – a Former Honcho at Mutual Fund Giant Fidelity Investments – Likes At Least One Type of Annuity

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Longevity Annuities

Longevity Annuities – The Optimistic Opposite of Life Insurance

Longevity insurance is an annuity policy specifically designed to provide lifetime income to individuals…

UBS Looks at Longevity and Annuities

UBS Looks at Longevity and Annuities

For years, wealth managers have paid little attention to longevity risk or annuities. But times are changing…

Now You Can Invest in a Longevity Annuity within an IRA or 401k

Now You Can Invest in a Longevity Annuity within an IRA or 401k

AIG is now issuing what appears to be the first longevity annuity contract that can be funded with qualified funds…

Do It Yourself

One Man’s Do-It-Yourself Retirement Plan

Baltimore radiologist Dimitri Merine hopes to retire in seven years, at age 63. So he created a do-it-yourself retirement…

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