Frank Gorshin

Frank Gorshin

Frank specializes in safe money planning using wealth preservation and guaranteed income planning strategies. His goal is to keep your money protected from market losses while providing these strategies. He also offers estate and business planning programs.

Gorshin Financial Group, Inc.

3761 Renee Dr.

#336

Myrtle Beach, South Carolina 29579

frank.gorshin@retirevillage.com (800) 734-5236
Back To Articles

Women normally live longer than men, make sure their retirement income lasts as long as they do.

 

Her husband worked hard and built a stable retirement for them, and then he died. Most women are unsure of what happens to their husband’s pension should he pre-decease her. Will it continue? Will it be reduced? Will it stop?


Untold millions of women face the problem of insufficient income because their spouse made the wrong choices when selecting pension retirement options. The same mistake can also be made when choosing the wrong income option with an annuity.


Annuities, which are insurance products, are a reliable means to retirement security, but if the annuity does not have survivor benefits, the retirement time for a surviving spouse can be a brutal one.


If the retirement account is for both husband and wife safe and secure retirement income, consider options that will continue when one spouse dies.


One very popular choice is a life income refund option. The annuity pays the annuitant (retiree or retirees) an income for as long as they live, but in the event, they die early, the unused funds are inherited by their named beneficiary. The option is also known as a refund annuity.


The time period option. This choice is based on the needs of the person or couple, and a fixed-term annuity can be used. The period can be almost any time period desired, ten years, twenty years even longer periods are available. In the event of death, before the time period selected, the remaining funds continue the payout to the named beneficiary until the original time period is fulfilled.


Here is a link for more information about income options: http://gulfnews.com/business/your-money/how-to-make-sure-women-have-a-pension-1.1197897

Best Annuity Rates Report Cover

Annuity Questions?

Download the 2021 Annuity and Investment Report Now and learn more about annuity options that can help you achieve your retirement goals.

Safe Money Guide Report Cover

Safe Money Guide

Download our Safe Money Guide and learn more about safe retirement options that can help you achieve your retirement goals safely - FREE!

Life Insurance Guide Report Cover

Life Insurance Guide

Learn more about the various life insurance options available to you that can help you achieve your goals.

Sign up for our newsletter.

Safe Money insights and tips sent to your inbox bi-monthly.

Sign Up Now!