Longevity insurance wasn't an easy sell when it was first offered several years ago, Philip Moeller writes. Clients balked at the idea of paying into an account that would guarantee a steady income if they lived beyond age 85, but would net nothing for their estate if they died earlier, Moeller writes. With tweaks to the product, now in the form of deferred-income annuities, and continued concern about longevity risk, the idea's popularity is increasing, he writes.

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