Longevity Annuities

What is a longevity annuity?

These are also known as advanced life delayed annuities and they offer protection against outliving your retirement money. If you buy a longevity annuity you will have to wait to reach around 80 years of life to start receiving payments. Once these payments begin, you...

How do I know if buying one is right for me?

There are three main question you must answer to yourself before buying a longevity annuity: does your family has a history of longevity? If so, do you have a -relatively- good health? And do you think there’s a chance you outlive your retirement assets? If the answer...

What are its advantages?

The main advantage of owning a longevity annuity is that you will be safe against something you can’t control: running out of money in your retirement years. For average retirees, to take 10% to 15% of their retirement savings to buy a longevity annuity will be as...

What are its disadvantages?

In this type of annuity there will not exist beneficiaries. In the event of your death, the remaining of your account will go to the insurance company. You should also keep in mind that the payments from a longevity annuity will not start until you reach 80 years in...

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