“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.”