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The Life Insurance Move That Lets a Retiring 64-Year-Old Take the Higher Single-Life Pension and Still Leave His Spouse $720,000 Protected
Key takeaways
- Secure life insurance approval before making any pension election, since most pension choices are irrevocable once benefits begin.
- Good health is essential for this strategy, as poor health makes affordable permanent life insurance difficult or impossible to obtain.
- Many financial professionals are salespeople paid on what they push, not whether you end up wealthier.
The Life Insurance Move That Lets a Retiring 64-Year-Old Take the Higher Single-Life Pension and Still Leave His Spouse $720,000 Protected Darren Baker / Shutterstock.com Christy Bieber Sun, June 7, 2026 at 11:55 PM GMT+7 4 min read Quick Read Robert chose the $4,800 single-life pension over the $3,900 joint-survivor option, redirecting the $900 difference to fund a $720,000 life insurance policy for his wife.
Secure life insurance approval before making any pension election, since most pension choices are irrevocable once benefits begin.
Good health is essential for this strategy, as poor health makes affordable permanent life insurance difficult or impossible to obtain.
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