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The positive aspects of living longer come with some financial concerns.
Living longer than expected can also mean outliving your savings! Being able to access your death benefit can provide additional income when it’s needed most. This Rider provides you protection for a multitude of financial risks: • Living longer than expected/didn’t save enough • Reduced Social Security Income when one spouse dies • Market corrections and poor investment performance • Health Care costs (other than Chronic Illness) • Unexpected expenses (roof, furnace, auto repairs, etc.) • Financial help for children and grandchildren 61% of Americans surveyed said they are more scared of outliving their retirement than they are of death. Do you have a plan in place to protect yourself against outliving your assets? Do you have a plan in place to protect yourself against outliving your assets? Protect Yourself. This life insurance rider allows you to access your death benefit while you are living and turn it into an income stream. Typically, an insured might expect 10% of the death benefit for 10 years beginning at age 85. An example would be if you took out a $500,000 death benefit life insurance policy and wanted/needed more income in retirement. At age 85 you could access $50,000 per year for 10 years. Or, if you would pass away at age 90, your designated beneficiary would receive a $250,000 death benefit. You can stop and start accessing the benefit, or take less than 10% per year and extend the number of years you take the benefit beyond 10. How likely is it that you outlive your savings? Statistics show that there is a 50% chance that one person in a couple lives to age 92 and a 10% chance that one person in a couple live to age 104.² Have you financially planned for that? The dialog above is intended to be a general description of benefits available through accelerated death benefit riders. For complete details you will need to contact a licensed representative at 800-745-2416 ¹ THE 2Q11 SUNAMERICA RETIREMENT RE-SET STUDY CONDUCTED BY HARRIS INTERACTIVE SURVEYED A NATIONAL SAMPLE OF ADULTS AGE 55+ ² PREPARED BY ERNST & YOUNG INSURANCE AND ACTUARIAL ADVISORY SERVICES PRACTICE. THE ANALYSIS USES THE ANNUITY 2000 MORTALITY TABLE WITH SCALE G2 MORTALITY IMPROVEMENTS |