When you claim and the method you choose can greatly impact the lifetime value of the payments you receive from Social Security.

Having a better understanding of life expectancy can help you determine how long you need to plan to have your assets last so you can accomplish your goals.  This understanding impacts the amount of risk you may be willing to take.

Which financial products you choose when creating your financial plan can be greatly influenced by the risk you are willing to take. Someone with a long life expectancy and low risk tolerance may choose to have a much smaller amount of their investments allocated to the stock market or may choose other alternatives, like annuities.

If you have a good idea that you will live longer than average, based on science, you may change the amount of income you receive from your portfolio to extend how long your money will last.

Taxes can take a big bite out of the income you receive, so knowledge of tax advantaged or tax free income planning can be better determined with the benefit of personalized life expectancy.

Healthy life expectancy helps us determine how many years we are likely to need assistance with some activities of daily living.   This knowledge allows for planning for the associated expenses, which can be large.