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Brown Cafe UPS Forum
UPS Retirement Topics
Life only Pension?
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<blockquote data-quote="Darmark7" data-source="post: 4880098" data-attributes="member: 83127"><p>My decision was to take the 50% option. My thoughts on why I personally chose that was because my wife and I was both 57 yrs old when I retired. We are both in good health non smokers non drinkers and our parents are in their mid 80’s and are still alive so my thinking was we have a good chance of living past our 80’s. If I would of taken a life insurance policy for 25 yrs and then live past 25 yrs I would have to get a new policy when I’m over 80 and can you imagine what a life insurance policy will cost an 80 yr old? I get about $290 a month less to take the 50% option but I know that’s going to always be the same amount no matter how long I live. With Life insurance I could pay for 25 yrs and if I don’t die before 25 yrs I’m not going to get a dime and I would have to start another policy and who knows how much the premiums for an 80 yr old will be then! If we knew when we would die this would be such an easy decision. I still don’t know if I made the best decision but it was one I felt best about after weighing the options. Weigh your options and good luck! </p><p> I would love to hear why other people chose the option they did.</p></blockquote><p></p>
[QUOTE="Darmark7, post: 4880098, member: 83127"] My decision was to take the 50% option. My thoughts on why I personally chose that was because my wife and I was both 57 yrs old when I retired. We are both in good health non smokers non drinkers and our parents are in their mid 80’s and are still alive so my thinking was we have a good chance of living past our 80’s. If I would of taken a life insurance policy for 25 yrs and then live past 25 yrs I would have to get a new policy when I’m over 80 and can you imagine what a life insurance policy will cost an 80 yr old? I get about $290 a month less to take the 50% option but I know that’s going to always be the same amount no matter how long I live. With Life insurance I could pay for 25 yrs and if I don’t die before 25 yrs I’m not going to get a dime and I would have to start another policy and who knows how much the premiums for an 80 yr old will be then! If we knew when we would die this would be such an easy decision. I still don’t know if I made the best decision but it was one I felt best about after weighing the options. Weigh your options and good luck! I would love to hear why other people chose the option they did. [/QUOTE]
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