Are your clients worried about outliving their income? Are they concerned about spending their retirement assets too early and spending their last years destitute? Enter longevity insurance.
As the name implies, longevity insurance is a contract designed to insure the cost of an unexpectedly long life. The product has yet to make significant waves in the insurance industry, but rising life expectancies could position it as a key product for retirees who have enough assets to maintain their lifestyle through their expected life spans but might not have the income to support themselves if they live longer.