Most people do not enjoy paying taxes. This is true both before and during retirement. But what many investors do not realize is that funds in traditional IRAs that grow on a tax deferred basis right now will eventually be taxed – and if future income tax rates are higher than they are today (as […] Read more
Life Insurance
The following article we will help shed some light on which companies offer the best IULs, what are the many benefits indexed universal life provides, as well as list some of the potential pitfalls you should be aware of. Table of Contents Key Takeaways Best Indexed Universal Life Insurance Companies About Indexed Universal Life Insurance […] Read more
The following article covers all things related to life insurance proceeds. The following topics will be covered. What Happens to Unclaimed Life Insurance Proceeds? Where Do Unclaimed Life Insurance Proceeds Go? How to Learn About and Access Unclaimed Life Insurance Funds The Model Unclaimed Life Insurance Benefits Act The Best Life Insurance for Long-Term Needs […] Read more
Understanding 1035 Exchanges: How to “trade in” your life insurance, long-term care coverage, or annuity for a plan that better suits your needs Life insurance, long-term care coverage, and annuities can play a key role in your short- and long-term planning. These financial vehicles can help you to ensure that you and your loved ones […] Read more
There are many reasons why life insurance can be an essential component of a financial or retirement plan. Some people purchase it for the death benefit it provides, and others rely on the tax deferred cash value build-up to supplement their savings. Not all life insurance policies are exactly the same, though. So, it is […] Read more
While many people purchase whole life insurance for the death benefit that it provides, there are other features that can make these flexible financial vehicles enticing, too. For instance, with permanent dividend paying whole life insurance policies, there is a cash value account where the funds are allowed to grow on a tax-deferred basis. This […] Read more
The following article examines three different whole life cash value charts to understand how different policy designs affect the outcome of the policy’s long term cash value growth. Table of Contents What is Whole Life Insurance Cash Value? The Key Components of Cash Value Whole Life Insurance How Cash Value Builds in a Whole Life […] Read more
While many people purchase a life insurance policy for the income tax free death benefit that it can provide to their survivors, there are numerous other ways that this flexible financial vehicle may be used in a financial or retirement plan – even when the insured is alive. One of these is the ability to […] Read more
Comparing IRC 7702 vs 401k and 529 plans Which of these vehicles – if any – belong in your financial plan? When it comes to retirement planning, many people are familiar with the more “traditional” avenues, like employer-sponsored 401(k) plans and Individual Retirement Accounts, or IRAs. But there are some additional options that a lot […] Read more
The number one danger to building wealth and creating a legacy is death and taxes. The good news is that permanent life insurance provides protection against both. In the following article, we do a deep dive into life insurance taxation to help you make a more informed decision about how you can best secure your […] Read more
