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Discuss the use of an annuity contract as a form of longevity insurance. Discuss the reasons why someone would want to use an annuity for

Discuss the use of an annuity contract as a form of longevity insurance. Discuss the reasons why someone would want to use an annuity for such purposes and what scenarios would call for the use of an annuity as a way to insure against outliving retirement savings.

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