Commentary: ALDAs offer "longevity insurance"

04/6/2012 | SmartMoney.com

Retirees who are worried about outliving their money should consider an advanced life deferred annuity, writes Alicia Munnell of the Center for Retirement Research at Boston College. The product is available at age 65 and begins paying out at 85, providing "longevity insurance" at lower costs than annuities that begin payments right away. Proposed regulations would relax some rules on ALDAs.

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