I obtained a local financial advisor I found online to help me decide what alternatives I have upon waiving my survivor benefit on my husband's upcoming retirement pension, due to us needing all the pension money to pay medical benefits we will no longer have upon a buy-out early retirement. My husband asked if I could not take the benefit to help us use the extra moneynow. Also, our income would now be half of what it was. I felt insecure about doing this, still do, since I do not have a pension of my own and hardly any social security benefits since I did not work many years. I was looking for alternatives. The advisor recommended life insurance with Allianz, and also to roll over my husband's 401K ($217,000) into Allianz. This advisor charges no fee because he gets paid a commission from the companies he deals with. He showed up at the house dressed like a millionaire. He made it all sound too good to be true. Said the product is guaranteed and insured by the gov. The life insurance requires a blood and urine test (my husband is in good health at age 57.) The monthly premium is around $250.00 and too much for us to take out of the monthly pension. I assume my husband could get some life insurance through a bank or AARP, then the premium would be less, since there is no commission taken. I do not trust this Allianz product, so am thinking of declining and seeking other alternatives to the survivor benefit. We have two paid-up homes, a 401K, no debts or children. All I want is a sufficient monthly income should I be left on my own, since social security might not be that reliable in several more years. If my husband took the survivor benefit on his pension, it gives the spouse 75%, but it takes at least $400.00 each month to do so. He rather take the money now. I gather Allianz is a no-no, then?