Savvly
A modern benefit for a longer life, supporting retirement security.
What is Savvly? Complete Overview
Savvly's Longevity Benefits are designed to provide financial support for employees in the later stages of retirement, typically after age 80, when traditional retirement resources like 401(k)s or Social Security may be insufficient. This innovative benefit offers a potential stream of income to complement existing retirement plans, thereby reducing financial stress during the later years of life. Unlike insurance or pensions, Savvly's solution requires no underwriting, is funded over time, and begins payouts after age 80. It is fully regulated and compliant, and benefits are portable for employees, ensuring flexibility and security. The target audience includes employers looking to enhance their benefits packages and employees planning for long-term financial stability.
Savvly Interface & Screenshots
Savvly Official screenshot of the tool interface
What Can Savvly Do? Key Features
No Underwriting
Savvly's Longevity Benefits do not require medical underwriting, making it accessible to all employees regardless of health status. This feature ensures that every employee can benefit without the hassle of medical examinations or health-related exclusions.
Deferred Payouts
Benefits are designed to begin after age 80, providing financial support when other retirement resources may be depleted. This deferred payout structure ensures that employees have a safety net during their later years.
Regulated and Compliant
Savvly's benefits are fully regulated and compliant with financial and retirement benefit standards, offering peace of mind to both employers and employees. This ensures that the benefits are secure and reliable.
Portability
Employees can take their Savvly benefits with them if they change jobs, providing continuity and flexibility. This portability feature ensures that employees do not lose their benefits due to career changes.
Scalable Solution
Savvly offers a scalable benefit solution that can be implemented by employers of all sizes. This scalability makes it an attractive option for businesses looking to provide long-term financial security to their workforce.
Best Savvly Use Cases & Applications
Supplementing Retirement Income
Employees who have exhausted their 401(k) or Social Security benefits can rely on Savvly's payouts to cover living expenses, medical bills, or other needs in their later years.
Employer Benefits Enhancement
Companies looking to attract and retain top talent can offer Savvly's Longevity Benefits as a unique and valuable addition to their benefits package, differentiating themselves in the competitive job market.
Financial Security for Late Retirement
Individuals concerned about outliving their savings can use Savvly's benefits to ensure they have a reliable income stream well into their 80s and beyond.
How to Use Savvly: Step-by-Step Guide
Employers sign up for Savvly's Longevity Benefits program and integrate it into their employee benefits package.
Employees are enrolled in the program, with no need for underwriting or medical exams.
Contributions are made over time, either by the employer, employee, or both, to fund the longevity benefit.
Upon reaching age 80, employees begin receiving payouts from the benefit, providing supplemental income during retirement.
Employees can continue to receive benefits as needed, with the flexibility to use the funds for any purpose.
Savvly Pros and Cons: Honest Review
Pros
Considerations
Is Savvly Worth It? FAQ & Reviews
No, Savvly's Longevity Benefit is not insurance. It is a financial benefit designed to provide supplemental income during retirement, with no underwriting required.
Payouts begin after the employee reaches age 80, ensuring financial support during the later stages of retirement.
Yes, benefits are portable, meaning employees can retain their benefits even if they change jobs.
The benefit is funded over time through contributions made by the employer, employee, or both, depending on the plan structure.
Yes, Savvly's Longevity Benefits are fully regulated and compliant with financial and retirement benefit standards.