Women and Pensions, a Danger Sign

Untold millions of women face the problem of insufficient income because their spouse made the wrong choices when selecting pension retirement options. The same mistake can also be made when choosing the wrong income option with an annuity.

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Women normally live longer than men; make sure their retirement income lasts as long as they do.

Her husband worked hard and built a stable retirement for them, and then he died. Most women are unsure of what happens to their husband’s pension should he pre-decease her. Will it continue? Will it be reduced? Will it stop?

Untold millions of women face the problem of insufficient income because their spouses made the wrong choices when selecting pension retirement options. The same mistake can also be made when choosing the wrong income option with an annuity.

Annuities, which are insurance products, are a reliable means to retirement security, but if the annuity does not have survivor benefits, the retirement time for a surviving spouse can be a brutal one.

If the retirement account is for both husband and wife safe and secure retirement income, consider options that will continue when one spouse dies.

One very popular choice is a life income refund option. The annuity pays the annuitant (retiree or retirees) an income for as long as they live, but in the event, they die early, the unused funds are inherited by their named beneficiary. The option is also known as a refund annuity.

The time period option. This choice is based on the needs of the person or couple, and a fixed-term annuity can be used. The period can be almost any time period desired, ten years, twenty years even longer periods are available. In the event of death, before the time period selected, the remaining funds continue the payout to the named beneficiary until the original time period is fulfilled.

For more information about income options, check out this article from Gulf News.

About syndicated columnists

Syndicated Columnists is a National organization committed to a fully transparent approach to money management. Providing original content aimed at the financial market, their articles are diverse, easy to understand, and targeted to the average reader. These columnists pool and share article information to provide the highest quality experience for their readers.

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Annuities are a safe and reliable investment. They can transform your savings into a more predictable income. Speak with one of our qualified financial professionals today to find out how an annuity can offer you guaranteed monthly income for life.

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Content in our posted articles is deemed to be accurate but topics, facts and laws can change. It is always a good idea to verify facts before making decisions. Always seek authorized and professional advice regarding financial decisions which includes investing, annuity purchases, tax planning, changes in a financial portfolio and retirement planning.

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