The Federal Government provides you with the opportunity to choose between the Single Life Benefit and the Surviving Spouse Benefit when you retire. But according to Appointed Worldwide Holdings, there’s a third, more cost-effective plan for you: pension maximization.
It optimizes your pension funds, as promised.
This idea lets you buy a Pension Max Life Insurance Policy for your surviving spouse and get your whole federal employee pension during your lifetime.
Survivor Benefit Options
Below is a description of these three possibilities, along with examples (based on a $3,500 monthly pension):Appointed Worldwide Holdings
As long as you (the retired employee) are living, you and your spouse will get your maximum federal pension benefit under this choice.
- $3,500 that you (the retiree) receive each month.
- All advantages end when you pass away.
- Your spouse is not eligible for any further perks.
- Survivor Benefit is the second option.
In this scenario, your surviving spouse receives a 50% survivor benefit, funded by 10% of your basic annuity.
- You pay 10% for the Survivor Benefit, which means you get $3,150 a month.
- Your spouse will earn $1,750 every month after your death.
- The monthly cost of Survivor Benefit is $350 (10%).
- You will pay $105,000 for this benefit over a 25-year period.
Purchasing a Pension Max Life Insurance Policy with your spouse designated as the primary beneficiary is the option you choose. The money used to pay for the survivor benefit is now being used to buy this life insurance coverage.
- You decide to use the Benefit for Single Life.
- You are given $3,500 every month for the rest of your life.
- A part of the $350 monthly difference is used to buy a permanent life insurance policy.
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