Qualified Longevity Annuity Contracts: Income for Later in Life
You may hope to live to an old age, but a longer life means that you'll have even more years of retirement to fund. You may even run the risk of outliving your savings and other income sources.
Even though you may have set aside funds for retirement, you may not have set aside enough to cover your needs into very old age. How can you address the risk of outliving your savings? One option worth considering is a longevity income annuity.