Pension Maximization Using Life Insurance
Help to achieve financial security while maximizing your pension benefits.
Pension maximization using life insurance is a way to gain needed death benefit protection while offering you an opportunity to maximize your defined pension benefits. If you are a participant in a traditional pension plan (also referred to as a "defined benefit plan"), you have a plan that is designed to provide you with monthly income payments upon retirement. First however, you must make an irrevocable choice. Typically, your employer will give you two options for how the benefits will be paid - Life Only Benefit or Joint and Survivor Benefit. The Life Only option pays you the maximum benefit, but upon your death, your spouse does not continue to receive payments. The Joint and Survivor option pays a reduced benefit, but your spouse will continue to receive benefits when you die. The pension maximization strategy using life insurance is designed to be a compromise between the two options. It allows you to receive the higher pension benefit while also providing funds for your spouse in the form of a death benefit.
Watch our video and learn about pension maximization using life insurance.
Contact your life insurance representative today to find out if life insurance can help you maximize your pension!
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