A ‘What-If’ Income Solution For Retirees

You’ve recently retired, and you go to the doctor, and get the news. “Jim, there’s now a safe surgical procedure for your terminal medical condition. All things considered, you now have a long life to live!”

This sounds like great news, right? It might be an unwelcomed prognosis if you assumed that your medical condition would lead to a short lifespan, and accordingly haven’t saved much for your retirement. Sure, you purchased life insurance for dying too soon, but did you buy longevity insurance for living too long?