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I am about to select pension option regarding beneficiaries. By sacrificing 200 of 1600 per month my beneficiary will continue to get the reduced amount if I die first. Or I could buy term life or annuity and have the money for an estate if she should die first. I am only 55 and our income is good ie high taxes. Cannot defer pension to later date for higher amount. We are maxing 401k.
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