People approaching retirement may suddenly realize that they do not have enough money to live the lifestyle they have always dreamed of after working most of their lives. Life insurance may prove to be a good solution for people who find themselves in such a predicament.

A recent benefits survey by MetLife shows that almost half of workers are looking for ways to protect their retirement income. One way to have a steady flow of income is with a life insurance policy that provides income in guaranteed payments.

“Income replacement is extremely important to consumers purchasing life insurance,” says Protective Life senior vice president and chief distribution officer John Deremo. “People are concerned about making sure their families can pay off large debts, such as final expenses and mortgages, as well as providing a secure, guaranteed source of income to pay for the ongoing expenses of daily living.”

While as of 2007 the average life expectancy in the U.S. is 77.9 years, according to the Centers for Disease Control and Prevention, many people live well beyond that. Having a financial plan in place will ensure that there is money available to sustain a comfortable lifestyle.