by John Darer® CLU ChFC MSSC CeFT® RSP CLTC
According to the Centers for Disease Control, life expectancy for a man reaching age 65 has increased from 13 years in 1970 to 18 years in 2011. A woman’s life expectancy at age 65 has increased from 17 years in 1970 to 20 years in 2011.
Life expectancy has been increasing for several reasons, according to Robert Anderson, PhD, chief of the Mortality Statistics Branch with the CDC's National Center for Health Statistics. who added, "improvements in heart disease and stroke mortality have had a big impact. That's a large proportion of total deaths and that's where the action really is in terms of improved life expectancy. That's really what's driving the trend."
A recent analysis by the Institute of Medicine suggests that increases in life span in the United States are not matched by increases in "health span" -- time spent living in good health, Katz said.
"A long life with a high burden of chronic disease -- such as diabetes, heart disease and chronic obstructive pulmonary disease (COPD) -- means more time living with illness and disability," he noted.
Structured settlements annuities can provide a "steady job for life" providing stable guaranteed income that is income tax free if paying for damages that qualify under IRC sections 104(a)(1) or 104(a)(2).
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