Longevity risk is getting a lot of attention these days, particularly with many of us living in the ‘sandwich generation’ – taking care of both elderly parents as well as grown children who’ve moved back in with their parents. As someone experiencing this first hand, I can tell you it’s an expensive proposition – particularly taking care of aging parents.
Now, a few companies are stepping up with insurance products to address longevity concerns… longevity insurance. It’s called ‘longevity insurance’ because it’s basically protecting you if you live longer by allowing you to make a payment now for a large flow of income in your later years. Continue reading