This so - called
pension maximization may be a plan
only an insurance agent could love, so run it past a fee -
only financial planner — one who doesn't earn commissions on insurance sales — for a second opinion.
In order to properly utilize the
pension maximization strategy, George would choose the single - payout option
only if he is able to secure a permanent life insurance policy with at least a $ 210,000 death benefit for less than $ 2,000 per month, or $ 24,000 per year.