If you accept the pension plan's "life insurance" offer, you are choosing:
- A spousal reduction cost (a pension reduction amount) that increases with each cost-of-living increase;
- Total forfeiture of that cost. You will have paid a huge sum of money and have no equity. Over your normal life expectancy that total could exceed $100,000, $250,000, $500,000 or more!
- The forfeiture of the spousal reduction cost throughout the years should your spouse predecease you.
- The risk of losing a large part of your pension income if your life (or your spouse's) is shorter than you expect it to be.
Is There A Better Way?
Often the answer is "yes". The better way is Pension Maximization -- your individualized pension plan:
How much better?
- Convert your spousal reduction cost (pension reduction) to an increasing asset--life insurance cash values;
- Have large equity buildup (five and six figure amounts) at life expectancy;
- Have access to substantial cash to fund unknowns and life events;
- Recover the pension survivorship costs, and more;
- Have the ability to leave remaining money to loved ones, or to leave a charitable legacy.
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