Let me say that this thought of mine is WAY out in left field, but I would like to propose it to this group and get you opinion.
I expect that there will be a number of major medical breakthroughs in the next 25+ years that will greatly extend the lifespan of humans. It would seem to me that if a person were to purchase and annuity before the breakthroughs are discovered that they could easily win the annuity gamble.
My questions are many. Is this a logical thought? How soon would mortality tables be revised if something like this happened? Is it worth the gamble?
I would also expect that an event like this would completely break Social Security if it were not already completely broken at the time it happens. I also wonder what the long-term effects would have on insurance companies that already had a lot of payouts to make based on pre breakthrough policies.
Thanks,
Mark
I expect that there will be a number of major medical breakthroughs in the next 25+ years that will greatly extend the lifespan of humans. It would seem to me that if a person were to purchase and annuity before the breakthroughs are discovered that they could easily win the annuity gamble.
My questions are many. Is this a logical thought? How soon would mortality tables be revised if something like this happened? Is it worth the gamble?
I would also expect that an event like this would completely break Social Security if it were not already completely broken at the time it happens. I also wonder what the long-term effects would have on insurance companies that already had a lot of payouts to make based on pre breakthrough policies.
Thanks,
Mark