Is life-only pension OK in my circumstance?

[TuborgP]

We each had pensions and each went with the 100 percent survivor benefit. It resulted in a 17 percent pension reduction for each of us. We also are doing the 62/70 SS benefit with me taking spousal on hers at 66. Mine is the larger of the benefits and hers is greater than fifty percent of mine. The bottom line for us was the combined maximum income for the surviving spouse. Our pensions have COLA's and we have good investments. At current costs and projections the survivor could easily pay for quality nursing care out of fixed income and that was/is important. It also enables us to make solid continuing investment contributions.


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[Souschef]

The best comment is YMMV. My wife is 5 years younger than me, but her parents died in their 80's and my mom just died at 102.
The pension I got was small (1200/mo), plus she has a small pension and survivor's SS.
It did not make much sense to take any survivors benefits with my pension.