Outliving Assets Problem Looms
National Underwriter (Life/Health) (10/16/00) Vol. 104, No. 42 p.7; Rappaport, Anna M.

With the anticipated age of death for healthy persons lengthening every year, more Americans are turning away from traditional defined benefits plans, to their detriment, some observers say. Anna M. Rappaport, a principal partner at William M. Merger Inc. in Chicago, says the trend has alarming implications for older Americans. To help in this area, Rappaport makes the following suggestions: planning professionals who advise retirees and their families should clarify the risk of outliving assets; professionals should check to make sure that the plan in place is feasible; managers of insurance companies should check to see how their annuity products can be improved; and the retirement planning community in general should work together to help educate the public about post-retirement risks and solutions.

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