If you could look into a magic ball and see how long you would be here on this Earth, would that help you plan for your every need, down to the your last second?
There’s no such thing as that magical crystal ball, though the Society of Actuaries has its own methods for calculating the average life expectancy (which for the average 65-year-old American woman is 88.8 years and for men 86.6 years).
That’s where the financial advisor or insurance expert comes in to evaluate and recommend how to best protect a family’s financial future with different products, including life insurance, long-term care insurance, retirement planning, and other vehicles such as annuities, 401(k)s and more.
In an effort to help educate consumers, policy-makers and the public on the importance of financial planning, Americans to Protect Family Security, a partnership of life insurance companies, agents and financial advisors, has published a few handouts that have information about what the life insurance industry does, how it works and its contributions to the U.S. economy.
In it, the organization provides key insights into what the life insurance industry is doing to protect American families in all financial aspects, such as life insurance, saving for retirement and how to make that retirement income last as life expectancies continue to climb in the U.S.