Chapter 24. Longevity insurance

 

“I intend to live forever, or die trying.”

 
 --Groucho Marx

The good news is that people are living longer today than ever before. The bad news is that many people are fearful that a lifetime’s savings won’t provide enough money for a lifetime. At one time, it was common for many people, at retirement, to put their money almost exclusively in fixed income instruments such as Certificates of Deposit. But all of that has changed. The truth is that the steady income provided by CDs is not much more than a recipe for slowly going broke as inflation eats into your returns.

Everything is an opportunity for someone. And for the insurance companies, the combination of a longer living population with the fear that the sources ...

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