SOS = Save Our Seniors from Outliving Their Retirement Savings Formidable Problems of Longevity

The US is facing a "sinking ship of longevity" with people unprepared for the financial impact of living longer and their limited source of retirement savings, says LongevityQuotes.com.

(PRWEB) April 28, 2008 -- The US is facing a "sinking ship of longevity" with people unprepared for the financial impact of living longer and their limited source of retirement savings.

LongevityQuotes.com, was launched to raise public awareness of the financial issues and insurance product solutions relating to the increase in the aging US population. The Census Bureau projects that one in nine baby boomers (9 million of the 80 million people born between 1946 and 1964) will survive into their late 90s, and that one in 26 (or 3 million) will reach 100*.

Unlike the UK, the US has just recently started to worry that insufficient attention has been paid to the financial implications of increased life expectancy. One in four workers lack the confidence that they will have enough money to live comfortably throughout their retirement years .

Despite the growing need for Longevity Insurance many insurance companies have had little success in marketing this type of product.

So what is Longevity Insurance?

"Longevity Insurance" is a new spin on deferred fixed annuities, which are typically tax-deferred investment vehicles set up to provide a guaranteed income stream starting at a predetermined point in the future.

There is a real need today for financial products that directly address the issue of increasing longevity. The aim of Longevity Insurance is to secure one's financial protection against the major risk of outliving your money.

For more information or to request a quote on Longevity Insurance visit www.LongevityQuotes.com.

• Statistics compiled from the 2007 Retirement Confidence Survey