When it comes to retirement planning, most people just want to provide
for their loved ones. In this blog
series, we’ll discuss some ways you can make sure they’re taken care of.
A life only pension is a
pension that is designed to pay out for the rest of your life only. These
benefits apply whether or not you’re married. If you take a life only pension
from an institution and you are married, have a significant other or children,
“life only” means it will pay only
for the rest of your life and
that's it. If you pass away the next day or you never collect, it will be
absorbed back by the institution and nothing will be paid to your spouse,
children and/or heirs.
