Retiring brings crucial decisions, especially about pension options. You can choose full pension benefits for yourself with no spousal benefits upon your death, or reduce your pension to 50%-70% to ensure your spouse receives 100% of your benefits if you pass away.

You could lose HALF your pension! But, if you're healthy or have minor health issues, life insurance could be a cheaper way to secure your spouse's income.

Consider a 60-year-old man with a $5,000 monthly pension for life. To ensure his spouse gets the same pension after he dies, he might only get $3,900 monthly. Life insurance can guarantee your spouse's income for less. See the example below.