Life insurance Policy or Survivor ship penalty on Pension

I’m about to retire at 52. I’m debating if it would be be better to reduce my pension to provide for my wife in case I die before her, or whether that money would better be applied to a life insurance policy.

I will be getting $3427 monthly

a 1 million dollar policy will cost $412. That will give her 24+ years of pension payments upon my death.

Choosing to give her 75% of my pension after my death will reduce our pension to $3041 while we both live and give her $2281 upon my death.

It seems that the insurance is the better option as it will give her almost 30 years of pension payments at our full amount and over 36 years of payments at the reduced rate she would receive after my death. But before I decide, I thought I’d ask the help of my fellow redditors!

Thank you all in advance, you are the best community on earth!

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