MyLifeScore is a revolutionary life planning tool that considers not only how old you are and how long your estimated lifespan is, but how much of your lifespan will be spent in good health—your healthspan. Our estimates use AI-based data-driven technology powered by Longevity Market Assets and Lapetus Solutions.
This proprietary metric combines biological, demographical, and social trends to generate a unique score that depicts where you currently stand in your later years relative to others in your age group, while also offering suggestions for what you can do to improve your MyLifeScore.
The results you produce by utilizing the MyLifeScore metric provides you knowledge on what you should financially plan for in the future, and how changing your lifestyle could either improve or worsen your physical, mental, and financial future.
Why Did We Create MyLifeScore?
The root of why we created MyLifeScore was to shed light and provide a solution to an issue that many adults face—not properly preparing for their futures, whether it be financially, mentally, or physically.
We wanted to stress the importance of what it means to not only make the needed choices to live a long life, but a long life that is spent in good health—your healthspan.
Specifically, a large component that prompt the need for this proprietary metric was the urge to bridge the retirement gap. The World Economic Forum stated that the retirement gap between savings and average life expectancy for an average American retiree has risen to 8.3 years for men, and 10.9 years for women, who live longer than men. This effectively forces seniors to hold off on retirement while they continue building a portfolio, or re-enter the workforce once they realize they will likely outpace their finances.
While global governments continue to operate primarily in the realm of fiscal theory, current retirees are forced to find solutions. For many, that means postponing their retirement, sometimes indefinitely, in order to make ends meet.
For others, it means making serious financial sacrifices and existing just above the poverty line. Neither of these solutions have proven to be particularly effective, as bankruptcy rates in Americans 65 years old and older grew nearly 204% from 1991 to 2016 according to SSRN. The financial stress that older generations are unfortunately experiencing are expected to increase as time goes on.
To aid this ongoing financial issue, Aging IQ has created MyLifeScore to help adults see their personalized results in order to best plan for their futures. Policy Value IQ is a very important tool in aiding this process, as it offers instant results for seniors’ life insurance policies than can be sold for cash to cover the expenses that comes along with aging.
To get an free, instant estimate of your life insurance policy to help you plan your financial future, click here.