whole life insurance for wealth
The Pros and Cons of Using Life Insurance for Retirement Income
Life Insurance Retirement Plans Explained A life insurance retirement plan (LIRP) offers unique tax advantages that traditional retirement accounts can’t match. These specially designed permanent life insurance policies allow policyholders to accumulate cash value tax-deferred while maintaining access to funds through policy loans. Unlike 401(k)s or IRAs, LIRPs don’t have contribution limits based on income. […]
Comparing Indexed vs Variable Universal Life: Which Is Better for You?
Indexed Universal Life Insurance Explained Indexed universal life insurance (IUL) offers a unique balance of growth potential and protection. These policies credit interest based on stock market index performance while guaranteeing your principal against market losses. The caps and participation rates determine how much upside you can capture during strong market years. When evaluating indexed […]
What Is an Irrevocable Life Insurance Trust—and Do You Need One?
Understanding Irrevocable Life Insurance Trusts An irrevocable life insurance trust (ILIT) is a powerful estate planning tool that removes life insurance proceeds from your taxable estate. These trusts own your life insurance policy, preventing the death benefit from being counted as part of your estate for tax purposes. High-net-worth families frequently use ILITs to preserve […]
How the Wealthy Use Insurance as a Financial Growth Engine
Cash Value Life Insurance as a Wealth Tool Sophisticated investors increasingly use cash value life insurance as a versatile financial instrument. These policies combine death benefit protection with a savings component that grows tax-deferred. The cash accumulation feature provides liquidity options through policy loans, often at favorable interest rates compared to traditional financing. When structured […]