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Below we canvas 11 retirement experts and financial planners in Canada and the United States about how they and their clients can use new Longevity insurance products above and beyond traditional life annuities.
These experts were gathered by Featured.com, which has been supplying Findependence Hub with quality content for several years. It recently changed its procedure so editors like myself can request input on particular topics we think will interest our readership. The sources are all on LinkedIn, as you can see by clicking on their profiles below.
Here’s what we asked for this instalment:
“In addition to Annuities, what is one new Longevity product or fund that you believe in enough to recommend to clients approaching or already in Retirement? Examples in Canada are Purpose Longevity Fund and Guardian’s Longevity Funds. Are there similar new products in the U.S. (or Canada) of which you are aware?”
Here is what these 11 thought leaders had to say:
LifeX ETF delivers transparent Longevity Income
In addition to traditional annuities, one of the emerging longevity products in the U.S. that I have come to recommend to clients approaching or already in retirement is the LifeX Longevity Income ETF, particularly the LFAI fund.
While it is not a classic insurance product, it is designed to provide predictable monthly distributions over a long horizon, effectively hedging against the risk of outliving one’s assets. The fund invests primarily in U.S. Treasuries and money-market instruments, and its structure is built around the concept of a target cohort’s 100th birthday, which allows for a systematic income stream without relying on a life insurance company guarantee.
For many clients, especially those who purchased assets during low-interest periods or are seeking reliable cash flow without tying up their entire portfolio in an annuity, this product offers a compelling complement to their existing retirement income strategy. What I find particularly valuable is the transparency it provides. Unlike certain annuities, clients can clearly see the underlying investments, understand how distributions are generated, and retain the flexibility to adjust allocations as their personal circumstances or market conditions evolve.
It also fits naturally into a broader retirement strategy where a portion of assets remains growth-oriented, some is allocated to defensive income-generating investments, and a dedicated longevity-income segment addresses the specific risk of living decades beyond retirement.
Of course, it is not without considerations; while the fund aims to provide stable income, it is sensitive to interest-rate changes, inflation, and the assumptions built into its cohort-based design. Clients need to assess the fit carefully, ensuring the time horizon and income targets align with their health, lifestyle, and other holdings. For those who understand these dynamics, however, it offers a sophisticated and innovative approach to longevity planning, bridging the gap between traditional annuities and fully self-managed income portfolios, and giving retirees confidence that they can sustain their lifestyle even as they live longer than expected.
Andrew Izrailo, Senior Corporate and Fiduciary Manager, Astra Trust
BlackRock LifePath Paycheck Fund Offers Flexibility
If you’re getting close to retirement, you might want to check out the BlackRock LifePath Paycheck fund. I’ve been following it. It works like those Canadian longevity funds, designed to give you regular monthly checks. The biggest risk is outliving your savings, and this fund has professionals handle the withdrawals so you don’t run out of money. It seems to offer more flexibility than a traditional annuity, which is worth a look.
JP Moses, President & Director of Content Awesomely, Awesomely
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Vanguard and Fidelity Deliver Stable Retirement Income
The Vanguard Target Retirement Income Fund is not an entirely new “longevity” product in the mold of Canada’s Purpose and Guardian funds, but it fulfills a similar role for retirees. It is intended to deliver a steady flow of income while protecting against the effects of inflation by investing in a diversified blend of stocks, bonds and cash. The Fidelity Strategic Advisers (r) Core Income Fund is also designed to provide income for retirees with a diversified approach. The two funds both provide some level of stability for those who want to keep a lid on risk and market vomit in retirement.
Evan Tunis, President, Florida Healthcare Insurance
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Modern LifeX ETFs balance Freedom and Income
I’ve often been asked about newer longevity products beyond traditional annuities, especially by clients preparing for retirement who want flexibility without giving up stability. What I have observed while working with financially cautious founders and executives is that people want income structures that feel modern, transparent, and liquid, and one option in the U.S. that I genuinely find promising is the Stone Ridge LifeX Longevity Income ETFs. I first came across them while helping a client map out a long term retirement strategy, and what stood out was how these funds provide monthly distributions while still allowing investors to keep full liquidity. I remember reviewing the structure and appreciating how it focuses on Treasuries and a long horizon rather than tying someone into an insurance contract. It felt refreshing. many retirees dislike the idea of locking up money permanently, and this approach allowed them to protect their cash while still receiving consistent income. The experience reminded me of moments with founders who want efficiency without losing control, and pattern is similar
In my opinion, the biggest advantage of these longevity ETFs is the balance between predictability and freedom, since investors receive monthly payouts but can still adjust their strategy if life takes an unexpected turn. The main drawback is that there is no lifetime guarantee, so someone who ends up living much longer than expected might outlive the structure if they rely on it too heavily. I often explain that longevity planning still requires layering different tools rather than expecting one product to solve everything. Another point that came up during discussions with retirees is the sensitivity to interest rate changes, which can affect the value of the ETF itself, and it is important not to overlook that risk. Still, for clients who want something more adaptable than an annuity, this has become a strong option to consider. I also pay attention to emerging pooled longevity concepts, similar to modern tontine ideas, which share risk across participants and create higher payouts for those who live longer. Even though these structures are not mainstream in the U.S. yet, the logic is compelling for retirees who expect longer than average lifespans. Whenever I see innovation like this, I feel the same excitement I do when a founder shows us a new model at spectup because it signals that the industry is shifting toward more transparent, flexible solutions.
Niclas Schlopsna, Managing Partner, spectup
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LifeX ETFs offer flexible, predictable Retirement Income
When I think about longevity-focused options beyond traditional annuities, one U.S. product I genuinely find compelling is the Stone Ridge LifeX Longevity Income ETFs. What draws me to LifeX is that it tries to solve the same problem that Canadian funds like Purpose Longevity and Guardian Longevity address — steady income over an unknown lifespan — but without locking someone into an irreversible insurance contract.
Instead of handing over capital permanently, retirees stay invested and receive structured monthly distributions, which feels more flexible and respectful of changing needs. I’ve always liked the idea of having income that mimics an annuity while still keeping the door open if health, family, or market circumstances shift.
I’ve come to see LifeX as especially appealing for clients who want predictable cash flow but aren’t comfortable giving up control of their assets. Because the funds are built largely on U.S. Treasuries, the income stream feels relatively stable, and the target-date structure helps align payouts with the later stages of retirement, when longevity risk becomes more real. The liquidity alone makes it feel like a meaningful evolution in retirement planning: it’s easier to sleep at night knowing the money isn’t trapped.
Of course, I’m also realistic about its limitations. There’s no lifetime guarantee the way a true annuity offers, and the income still depends on market and interest-rate dynamics. It’s not a perfect replacement for insurance-based products. But as a complement — or even a middle ground between full guarantees and full market exposure — it’s one of the few newer U.S. longevity products I’d feel confident putting on the table for someone approaching or entering retirement.
Sovic Chakrabarti, Director, Icy Tales
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Flexible Lifetime Income Funds gain momentum
In the United States, I am getting traction with Lifetime Income Funds that are being introduced in employer-sponsored retirement plans like 401(k)s and 457(b)s. These products mix standard growth-type investments with an annuity element that guarantees income until death. What I especially like about them versus their standalone annuity counterparts is they’re flexible and generally less expensive. And many allow you to invade the principal even after you’ve actually started taking income payments, which gives retirees increased control.
Further, hybrid target date solutions and managed accounts that incorporate income solutions are picking up significant momentum as a cutting-edge strategy. These take it a step more by adding retirement income planning compared to social security optimization giving the retiree’s cash flow a more customizable and stable stream. It’s a promising development in the field of so-called longevity products.
Keith Sant, Founder & CEO, Kind House Buyers
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Lifetime Income Funds pair Growth and Guarantees
In the U.S., one such innovative product focused on longevity is the Lifetime Income Fund, offering growth potential along with guaranteed retirement income. These are often a feature of employer-sponsored 401(k) or 457(b) plans and have an annuity component, designed to guarantee the person retirement income for life. They enable retirees to lock in their highest account balance for future income purposes, giving some downside protection while still maintaining access to assets. And ETFs including the Global X Longevity Thematic ETF (LNGR) and the Long-Term Care ETF (OLD) target companies that benefit from an aging population, like health care companies and those in the senior living business.
Mike Otranto, Founder, Wake County Home Buyers
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Diversified Tools address Longevity Risk in Retirement
For clients approaching or in retirement, managing longevity risk, outliving one’s assets, is essential. While annuities are a traditional solution, I also recommend alternative longevity-focused products that complement a retirement portfolio.
Longevity-focused ETFs are one option. These invest in companies positioned to benefit from an aging population, including healthcare, biotechnology, and retirement technology sectors. They provide growth potential, diversification, and liquidity that traditional annuities lack, making them a practical addition to a retirement allocation.
Mortality- or longevity-linked securities are another emerging tool. These products tie returns to life expectancy data, offering payouts designed to last through extended retirement horizons. They function similarly to annuities but often allow more flexibility and market-driven growth potential.
Multi-asset retirement income funds also deserve attention. Unlike standard target-date funds, these funds actively incorporate longevity risk into their allocation strategies, adjusting exposures over time to help sustain withdrawals over decades.
Finally, hybrid longevity insurance products with embedded investment options are increasingly available. These typically provide payouts starting at advanced ages while allowing some control over underlying investments. For retirees seeking both security and growth, these solutions can complement traditional income strategies effectively. Regardless of any latest trendy product, at the foundation of the retirement income is the ability to monitor and control cash flow through proper monetary diversification, risk management and prudent planning.
Alex Langan, Chief Investment Officer, Langan Financial Group
Longevity Funds provide Paychecks with Flexibility
One newer U.S. option I’d actually point to besides annuities is the LifeX Longevity Income ETFs from Stone Ridge. They’re built for retirees who want a steady paycheck-style stream without buying a traditional annuity. You pick a fund tied to a future “end year” (like 2050, 2055, 2060, etc.), and it aims to send reliable monthly distributions along the way. Think of it like a retirement-income fund you can hold in a brokerage account, designed around how long you might need money, not just how much you want to grow.
Another U.S. product in the same spirit is the Longevity Pension Fund. It’s trying to feel more like a pension paycheck: you invest, and it pays monthly income for life, with the payout level reviewed and adjusted each year based on how the fund did and how many people are drawing from it. So it’s not a hard guarantee like an annuity, but it is a real longevity-focused structure that many retirees find easier to live on than a plain old balanced fund.
If I’m recommending these kinds of products to someone near or in retirement, I keep it simple: they’re useful for people who want income that’s organized and longevity-aware, but who are okay with some market wiggle instead of a locked-in insurance promise. I’d still pair them with a basic cash bucket for the next couple years of spending, so you’re not forced to sell in a bad market. The main things I’d look at with any client are how the payouts work, how they change in rough years, and whether the person values flexibility more than a guaranteed floor.
Nikita Sherbina, Co-Founder & CEO, AIScreen Digital Signage Software
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LifeX ETFs tackle Longevity Risk with Liquidity
One product beyond traditional annuities that I believe merits serious consideration for clients approaching or in retirement is the series of “longevity-income” ETFs from Stone Ridge Trust (under the LifeX brand). These U.S. products are designed to provide monthly distributions of income plus return of principal stretching to a specified “term year” aligned with very advanced ages (e.g., up to age 100) and thus explicitly address the risk of outliving one’s assets.
In my experience working with retirees, the critical challenge isn’t just building a nest egg but converting it into a sustainable income stream that responds to inflation, longevity and changing market conditions. I once advised a client couple who had accumulated sufficient assets but feared the “what-if we live to 95” scenario. We structured a portion of their portfolio into a product that offered a “pension-like” stream (a deferred income annuity) and layered a longevity-income ETF to provide more flexibility and liquidity. This hybrid approach gave them peace of mind—knowing a base income was secured while retaining access and the possibility of growth or legacy.
If you’re working with retirees, I recommend:
(1) evaluate the longevity risk horizon (i.e., how long one’s nest egg must last), (2) look for products that deliver income plus return of principal rather than just income, and (3) combine them with growth-oriented assets for the earlier “active retirement” years and switch to income/decumulation strategies as the live-high-risk years approach. The LifeX ETFs aren’t perfect or guaranteed in the same way as an insurance-based lifetime annuity, but they represent a new generation of retirement income solution in the U.S. marketplace and are definitely worth discussing with clients.
Dr. Partha Nandi, Owner, Dr. Partha Nandi
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CDAs Safeguard Portfolios against Longevity Risk
Retirement planning, like building a heavy duty structure, requires securing the foundation against the longest verifiable load: human lifespan. In addition to traditional annuities, the longevity product I recommend is Contingent Deferred Annuities (CDAs), which are similar to the protective goals of the funds seen in Canada. The conflict is the trade-off: traditional retirement spending risks a massive structural failure if the client lives too long; CDAs secure the financial defense perimeter.
CDAs, often embedded within variable annuities, act as a structural insurance policy for the investment portfolio. They provide a verifiable, non-negotiable income stream that only activates if the client’s underlying investment assets deplete below a certain threshold or after a set period. This allows the client to spend their primary nest egg more aggressively and confidently in their earlier retirement years, knowing the CDA is the hands-on structural defense against hitting zero later.
This shifts the focus from anxiety to verifiable certainty. The CDA is not the primary building material; it is the secondary, mandatory support beam that guarantees the entire structure will not collapse under extreme, long-term load. I recommend it because it forces a disciplined, strategic approach to financial risk. The best approach to retirement is to be a person who is committed to a simple, hands-on solution that prioritizes securing the structural longevity of their personal financial foundation.
Ahmad Faiz, Owner, Achilles Roofing and Exteriors
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