Live long and prosper with annuities

With the right genes, longevity insurance a plus

Among the many risks retirees face is living too long and outliving their money.

Of course, the first part is a risk many would welcome. It beats the alternative.

Fortunately, there is a solution in longevity insurance, better known as annuities or life annuities. These are contractual arrangements between an "annuitant" -- yourself -- and a life insurance company. In exchange for a chunk of capital paid to the insurer, a life annuity guarantees you payments for life -- even if you live to be 120 or more...

Montreal Gazette: Live long and prosper with annuities