You are meeting with your new clients, Walden and Ashley,and after assessing their needs and situation, you determine that they should invest some of their investable assets into a Life Annuity or a Guaranteed Lifetime Withdrawal Benefit. Which of the following personal risks would BEST be mitigated by these type of investments?
a)low level of financial literacy
b)risk of job loss
c)longevity risk
d)risk of leverage