According to WHO published in 2018, the average life expectancy in India is 68.8 years (Male 67.4 years and Female 70.3 years). Also the majority of the workforce get in to the job market little late and retire around 58 years. Hence after retirement the retired person has to live for a minimum period of 10 years and his spouse for 15 years. This could be more for individuals who are healthy and for others it could be less. Thus any individual who has born in this world during his life time faces two important risks. They are living long (Longevity risk) or dying too early.