LIFE EXPECTANCY

LIFE EXPECTANCY

Americans are living much longer today than in previous generations. This means that, on average, more of the U.S. population has more time in retirement to spend with family or pursue their passions. This also means that retirement income needs to last longer.

From 1960 to 2020, life expectancy in the U.S. rose from 69.77 years to 78.93 years

1960
69.77 Years Old
2020
78.93 Years Old

Retirees today face the risk of outliving their money. This is why many people look for financial products that accumulate a cash value or provide guaranteed lifetime income. Certain life insurance policies and annuities that come with a lifetime income rider are commonly used solutions.

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70% of people turning age 65 can expect to use some form of long-term care during their lives

Another concern many have with longer life expectancies is the increased risk of experiencing a long-term care situation. Without long-term care protection, medical costs and other associated expenses can drain your retirement funds.

A retirement plan that protects you from outliving your income should include products that provide a guaranteed stream of lifetime income (such as an annuity), along with a comprehensive long-term care policy.

Americans are living much longer today than in previous generations. This means that, on average, more of the U.S. population has more time in retirement to spend with family or pursue their passions. This also means that retirement income needs to last longer.

From 1960 to 2020, life expectancy in the U.S. rose from 69.77 years to 78.93 years

1960
69.77 Years Old
2020
78.93 Years Old

Retirees today face the risk of outliving their money. This is why many people look for financial products that accumulate a cash value or provide guaranteed lifetime income. Certain life insurance policies and annuities that come with a lifetime income rider are commonly used solutions.

Image

70% of people turning age 65 can expect to use some form of long-term care during their lives

Another concern many have with longer life expectancies is the increased risk of experiencing a long-term care situation. Without long-term care protection, medical costs and other associated expenses can drain your retirement funds.

A retirement plan that protects you from outliving your income should include products that provide a guaranteed stream of lifetime income (such as an annuity), along with a comprehensive long-term care policy.

Retirement Income Planning

Get in touch with one of our financial experts today to discuss how to ensure you don’t risk outliving your income. Let us help ease your retirement worries.