What are the Pros and Cons of a Life Insurance Retirement Plan (LIRP) ?
|Nearly unlimited saving*||Potentially fewer investment options|
|Tax-deferred build-up of cash value||Savings potential limited by cost of death benefit|
|Tax-free income distributions when properly designed||Taxable withdrawals if not properly structured|
|No minimum age requirements to access cash value||May require ongoing contributions|
|Tax-free death benefit for beneficiaries||Contributions are not tax deductible|
*With minimum death benefit maintained