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In Reply to: Annuity product to cover wife instead of a joint survivor pension posted by John on June 25, 2001 at 21:09:33:
: Has anyone any experience in this type of insurance product? The plan would be to pay the premiums for the insurance with the difference in a full pension income and and a joint survivors income. The insurance would provide the wife the same income as would my joint survivor pension if I die before her. The bonus from doing this is, that when we both die, money would be left for our survivors with the insurance.
: The product offered is from Lincoln Benefit Life
YES THE REAL BENIFET IS THE INSURANCE IS ALSO TAX FREE TO YOUR SURVIVORS. IT IS ALMOST LIKE DBL YOUR PENSION WITH A DEATH BENIFIT IF YOU PASS AWAY. YOU COULD ALSO PURCHASE AN ANNUITY WITH THE DIFFERANCE AND GET A LIFE INCOME DEPENDING ON YOUR AGE.