TITLE

Overview of Recent Research on Longevity Risks in Retirement and Some Practice Considerations for Life Insurance Planning

AUTHOR(S)
Pokorski, Robert; Berg, Brett W.
PUB. DATE
September 2014
SOURCE
Journal of Financial Service Professionals;Sep2014, Vol. 68 Issue 5, p80
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Longevity risks and the potential costs associated with those risks may be the most important consideration for financial advisors today. Many financial products can help manage those risks. But innovations in life insurance product design provide fresh reasons for advisors to review life insurance products in a client's longevity planning. Advisors should consider the major risks and potential costs associated with living longer and how life insurance and recent innovations in product design can be integrated into comprehensive planning to address such risks. Using life insurance in federal estate tax planning remains important for the very wealthy, but times have changed. According to one recent estimate, 99.8 percent of all estates in 2013 were not expected to be subject to federal estate tax (Benjamin H. Harris, "Estate Taxes after ATRA," taxpolicycenter.org, February 25, 2013, at http://www.taxpolicycenter.org/Uploaded PDF/1001660-TN-estate-taxes-after-ATRA.pdf), but there are new reasons advisors need to use life insurance as one of their tools.
ACCESSION #
97768266

 

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