I just took a call from a former Sanitation worker. He retired eight months ago but has yet to be finalized. He read my column last week and was very upset that he did not elect a survivor option for the protection of his wife who is receiving Social Security Disability.
He has yet to buy the life insurance policy for his wife’s protection. He does not know how much to buy. He does not know if he will qualify by passing a medical exam. It’s good he called me because prior to being finalized he has the right to change his option election. In his case, I advised him to change from Maximum (maximum is also an option) to 100 percent Joint and Survivor.
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