It is insurance you buy that pays you for living longer. The clincher: You have to make to 80+ for it to pay off. Statistically speaking, a 65-year-old male will live on the average of 82 and a 65 year-old female will live on the average of 85. Metlife, Hartford, Integrity and New York Life offer it. Hey its an investment.
What is your opinion of Longevity Insurance?
If 65-year olds have an average life expectancy past the age of 80, then the premium you pay for this insurance must be higher than the payout you receive if you survive past 80. Otherwise the insurance company is certain to lose money.
Insurance companies are not in business to lose money. That means this insurance will cost you more than it will pay you if you pass 80. It also means you are guaranteed to lose money.
As an investment, its a sure winner for the insurance company and a sure loser for the insured.
Reply:Life Insurance is truly a fine investment --- the owner of the policy will never live to see the payoff.
Reply:my sister wanted to go that route and based on age payment etc she would have to live to 93 3/4 to break Even and then she could really reap the benifits!!!
Reply:I think there are better investments for that payment that she can reap the rewards of much sooner. Too much a gamble and I'm betting it ain't cheap.
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