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October 03, 2009

Long Life Planning | Most Babies Born This Century Will Hit 100 Years Said Study

by John Darer CLU ChFC MSSC CeFT RSP CLTC

"Very long lives are not the distant privilege of remote future generations -- very long lives are the probable destiny of most people alive now in developed countries"  -Aging Researcher

"Very long lives are not the distant privilege of remote future generations -- very long lives are the probable destiny of most people alive now in developed countries," Kaare Christensen of the Danish Aging Research Center University of Southern Denmark, Denmark, and colleagues. wrote on Friday in a study published in The Lancet  Vol 374, Issue 9696 pp1196-1208 3 October 2009.

A key question raised in the study was, are increases in life expectancy accompanied by a concurrent postponement of functional limitations and disability?

They say the answer is still open, but research suggests that ageing (sic- US) processes are modifiable and people are living longer without severe disability.

The researchers said that "should life expectancy in developed countries continue to improve at the same rate" (as it did for the 20th century... +30 years increase in life expectancy over the course of the century), "most babies born in rich nations since 2000 can expect to live to 100 years"

Most babies born in rich nations since 2000 can expect to live to 100 years!

  1. What will be the impact on personal injury settlement planning for  plaintiffs?
  2. How will a settlement planner make protecting against longevity risk a compelling decision in a "cash now" society?
  3. What skills will tomorrow's settlement planner need?
  4. What is the long term impact of this information on in force structured settlement annuity business for insurance companies?
  5. Does this research portend a greater demand for longevity products, including structured settlement annuities and deferred income annuities, even before taking into into account future interest rate increases and tax increases?
  6. What new products are being developed to deal the added longevity?
  7. Dissipation Myth proponents are obsessed with the validity of squandering plaintiff theory. It is perfectly logical to hypothesize that failure to consider and address long life planning and longevity risk may cause dissipation. To what extent have those individuals considered the effect of longevity on dissipation?  To what extent have those individuals considered longevity risk in terms of structured settlement public policy?
  8. What could regulators and legislators be doing to address this issue?
  9. What could the National Structured Settlement Trade Association (NSSTA), Society of Settlement Planners (SSP), and American Association of Settlement Consultants (AASC) and their respective members, be doing to increase financial literacy about long life planning and longevity risk?

Last updated April 28, 2024

 

  

 

Posted at 06:03 PM in Albany New York Structured Settlements, Annuity News, Boca Raton Florida Structured Settlements, Boston Structured Settlements, Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Chicago Illinois Structured Settlements, Connecticut Settlement Planning, Conshohocken Structured Settlements, Corpus Cristi Structured Settlements, CT Structured Settlements, Denver Structured Settlements, Dissipation Risk, Financial Literacy, Financial Planning, Greenwich Structured Settlements, Hartford CT Structured Settlements, Immediate Annuity, Jacksonville Florida Structured Settlements, Life Annuity, Long Island NY Structured Settlements, Longevity Insurance, Longevity Risk, Longevity Risk in Financial Planning, Longevity Risk in Settlement Planning, Los Angeles CA Structured Settlements, Louisville Kentucky Structured Settlements, NC Structured Settlements, New Jersey Structured Settlements, New Orleans Louisiana Structured Settlements, New York Settlement Planning, New York Structured Settlements, Newburgh Structured Settlements, NJ Structured Settlements, Orange County Structured Settlements, Orlando Florida Structured Settlements, Seattle Structured Settlements, Settlement Planning Issues, South Carolina Structured Settlements, Structured Annuity, Structured Annuity Company, Structured Settlement Annuity, Structured Settlement Markets, Structured Settlements, Structured Settlements in Michigan, Structured Settlements in Nassau County, NY, Suffolk County Structured Settlements, Syracuse Structured Settlements |

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Guide to Structured Settlements 2024

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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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