Litigation

Monday's Insurance Newswire contains a memorable quote from the 2008 Living to 100 Symposium by Steven G. Vernon, FSA, EA, MAAA, producer of The Quest: For Long Life, Health and Prosperity, and president of Rest-of-Life Communications, who said, "There is a 'Catch-22' for individuals as they need to manage their resources for the rest of their lives, yet they don't know how long to expect to live. This is further compounded by the number of individuals taking a lump sum, but not planning accordingly to make it last through their entire retirement." 

This statement is highly relevant to:

1. Tort victims and the need for personal injury settlement planning
2. Claimants and the need for settlement planning in non personal injury settlements
3. Imminent and Future Retirees and the Need for Retirement planning
4. Lottery recipient financial planning.
5. Anyone of the above considering selling their rights to receive lifetime payments from a structured settlement, lottery or deferred annuity, for a lump sum of cash now

The Living to 100 Symposium is an international triennial symposium on high-age mortality and related issues supported by more than 50 sponsoring and participating organizations. Actuaries, demographers, gerontologists, biologists and researchers from around the world attended the event to discuss the implications of living to older ages. The symposium compared experiences across countries from India to the United Kingdom, Canada, Mexico and the United States since all of these countries are experiencing  profound changes.

Gregory Salisbury PhD, Executive Vice President of Jackson National Life Distributors, LLC has written and excellent primer on the American retirement crisis called "But What If I Live?", published by National Underwriter Company. All royalties from the book are donated to Junior Achievement.

Junior Achievement uses hands-on experiences to help young people understand the economics of life. In partnership with business and educators, Junior Achievement brings the real world to students, opening their minds to their potential.

Other helpful longevity planning tools include Monte Carlo analysis.