Longevity insurance is worth considering for retirement, some say

09/19/2011 | Philadelphia Inquirer, The

A growing number of companies are offering longevity insurance, which gives buyers protection against the possibility that they will live long enough to exhaust their retirement savings. Buyers can't outlive the income stream that becomes available once they hit 80 or 85, but if they don't live that long, they often lose the funds they paid in. The demand for longevity insurance is expected to grow as life expectancy increases and pension plans become less prevalent, experts say.

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Philadelphia Inquirer, The

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