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I am retiring in a few weeks. I am still wrestling with whether to take the available 100% survivor option on my pension (which reduces my pension by about $4000/year) or taking the full undiscounted pension and purchasing term insurance to cover my wife in case of my demise.

My concern is that while I can purchase sufficient term insurance in a 10 year policy much more cheaply than $4000/year, I fear that I may be uninsurable (or insurable, but in a high risk category) when the policy expires and I am looking for a replacement.

Any opinions or help out there?
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