If you search “LIRP,” most of what you’ll find falls into two camps: financial entertainers calling it a scam, or insurance salespeople calling it the greatest thing ever invented. Neither is telling you the truth.
A Life Insurance Retirement Plan — LIRP — is not a product. It’s not an account you open. It’s a strategy that uses a properly structured permanent life insurance policy to create tax-free retirement income while maintaining a death benefit for your family. The policy type matters. The design matters. And whether it makes sense for you depends entirely on what you’ve already done with your other retirement accounts.
This guide explains how LIRPs actually work, who they’re built for, who should avoid them, and how to evaluate whether this strategy belongs in your retirement plan.
💡 TL;DR: What Is a LIRP?
A LIRP uses permanent life insurance — typically dividend-paying whole life or indexed universal life (IUL) — to build cash value that you access tax-free in retirement through policy loans and withdrawals. No contribution limits. No early withdrawal penalties. No required minimum distributions. No market losses with whole life. The tradeoff: lower growth potential than equities and higher costs than term insurance. Best used after you’ve captured your full 401(k) employer match.
✅ Why Trust This Guide
Written by professionals with over 18 years of experience in life insurance, estate planning, and retirement income strategies. As independent advisors with access to dozens of top-rated carriers, we evaluate LIRPs from the perspective of what actually happens to families — not what looks good in a hypothetical illustration. Every claim in this article reflects how these strategies perform in practice.
Table of Contents
What Is a LIRP and How Does It Work?
LIRP stands for Life Insurance Retirement Plan. Despite the name, it isn’t a specific product or account type — it’s a strategy for structuring a permanent life insurance policy to maximize cash value accumulation, then using that cash value as tax-free retirement income.
Here’s the basic mechanism: you pay premiums into a permanent life insurance policy. A portion covers the cost of insurance (the death benefit). The rest flows into the policy’s cash value, which grows tax-deferred. In retirement, you access that cash value through withdrawals up to your basis (tax-free) and policy loans (also tax-free, as long as the policy stays in force). When you die, your beneficiaries receive the remaining death benefit income-tax-free.
The critical distinction: a LIRP is designed for cash value performance, not maximum death benefit coverage. Proper policy design minimizes the insurance costs relative to cash value growth — essentially the inverse of how a standard life insurance policy is structured. This is why policy design matters more than the company name on the policy. A poorly designed LIRP from a great company will underperform a properly designed LIRP from a good company every time.
Term life insurance cannot be used as a LIRP — it has no cash value. Guaranteed universal life won’t work either, as it’s designed for permanent coverage with minimal cash value accumulation. The strategy only works with permanent policies structured to maximize the savings component.
Which Policy Types Work for a LIRP?
Two policy types dominate LIRP design, each with different risk-reward profiles:
Dividend-Paying Whole Life Insurance offers guaranteed cash value growth plus non-guaranteed dividends from mutual insurance companies. Premiums and costs are fixed. You’ll never see a negative year. Typical crediting rates run 4–5.5% when dividends are included. The tradeoff is lower upside potential. For a LIRP focused on guarantees and predictability, whole life is the stronger chassis. See our dividend rate history for company-by-company performance.
Indexed Universal Life (IUL) ties cash value growth to a market index like the S&P 500, with a 0% floor protecting against losses and a cap limiting upside (typically 9–12%). Premiums and costs are flexible, which is both an advantage and a risk — if the policy is underfunded, it can lapse. Typical crediting rates run 5–7% over time. IUL offers higher growth potential but introduces more variables that require ongoing management.
We generally do not recommend variable universal life (VUL) for LIRP strategies due to its direct market exposure and the risk of cash value losses — which defeats the purpose of using life insurance as a stable retirement income source.
Regardless of which chassis you choose, the policy must be structured to stay below Modified Endowment Contract (MEC) limits. If the policy becomes a MEC — meaning you’ve overfunded it relative to the death benefit — you lose the tax-free loan treatment, which eliminates the primary advantage of the LIRP strategy.
The Three Tax Advantages of a LIRP
Under IRC Section 7702, properly structured life insurance receives three distinct tax benefits that make LIRPs function as what some call the “Rich Person’s Roth”:
1. Tax-Deferred Growth. Cash value grows without annual taxation on interest, dividends, or gains. Unlike a taxable brokerage account where you pay taxes each year on realized gains, every dollar earned inside the policy compounds undisturbed. Over 20–30 years, this deferred compounding creates a meaningful difference in total accumulation.
2. Tax-Free Access. You can withdraw cash value up to your basis (total premiums paid) without any tax. Beyond your basis, you access funds through policy loans — which are not considered taxable income by the IRS as long as the policy remains in force. This is the mechanism that creates tax-free retirement income. And unlike a 401(k) or traditional IRA, there are no early withdrawal penalties before age 59½ and no required minimum distributions at any age.
3. Tax-Free Death Benefit. Your beneficiaries receive the death benefit income-tax-free. This is the feature that makes a LIRP a self-completing plan — if you die before fully utilizing the cash value, your family receives a leveraged, tax-free benefit that exceeds what you paid in.
KEY ADVANTAGE
Uninterrupted Compounding
Here’s what separates a LIRP from every qualified retirement account: when you take a policy loan from a whole life LIRP, your entire cash value continues earning the guaranteed interest rate and dividends as if the loan never happened. With a 401(k) or IRA, withdrawals permanently remove money from the account — it stops compounding. With a whole life LIRP, the money works in two places simultaneously: inside your policy earning uninterrupted compound growth, and in your hands being used for retirement income. Over decades, this difference can amount to hundreds of thousands of dollars in additional wealth.
LIRP vs 401(k) vs Roth IRA: How They Compare
| Feature | LIRP | 401(k) | Roth IRA |
|---|---|---|---|
| 2026 Contribution Limits | No statutory limit | $24,500 ($32,500 if 50+) | $7,000 ($8,000 if 50+) |
| Tax on Contributions | After-tax | Pre-tax (deductible) | After-tax |
| Tax on Access | Tax-free (loans/withdrawals) | 100% taxable as ordinary income | Tax-free (qualified) |
| Early Access Penalty | None | 10% before 59½ | 10% on earnings before 59½ |
| Required Distributions | Never | Age 73–75 | None during owner’s lifetime |
| Market Risk | Guaranteed floor (WL) / 0% floor (IUL) | Full market exposure | Full market exposure |
| Employer Match | No | Yes | No |
| Income Eligibility Limits | None | None | Phase-out at $150K single / $236K married |
| Death Benefit | Tax-free to beneficiaries | Account balance only, fully taxable | Account balance, tax-free |
| Social Security Impact | No impact on benefit taxation | Withdrawals can trigger up to 85% taxation | No impact |
| Creditor Protection | Strong in most states | Strong federal protection | Varies by state |
| Long-Term Care Benefits | Available with riders | None | None |
💰 Bottom Line: A LIRP is not a replacement for a 401(k) or Roth IRA — it’s a complement. Capture your employer match first. Max your Roth if you qualify. Then evaluate whether a LIRP adds value as a third bucket providing tax-free income, creditor protection, and a death benefit that qualified accounts can’t match.
For a deeper comparison of how whole life specifically stacks up against a 401(k) on generational wealth transfer, see our 7702 plan vs 401(k) comparison. For the Roth-specific analysis, see whole life vs Roth IRA.
LIRP Pros and Cons
Advantages
Tax-free retirement income. Policy loans and withdrawals up to basis are not taxable, and they don’t trigger Social Security benefit taxation — a significant advantage over 401(k) distributions, which can cause up to 85% of your Social Security to become taxable.
No contribution limits or income restrictions. Unlike Roth IRAs (which phase out for high earners) and 401(k)s (capped at $24,500 in 2026), a LIRP has no statutory maximum. This is why it’s sometimes called the “Rich Person’s Roth” — high-income earners who’ve maxed out qualified accounts can continue sheltering income.
Principal protection. Whole life offers guaranteed growth. IUL offers a 0% floor. Neither will lose principal in a market crash. For retirees worried about sequence of returns risk — where a market downturn early in retirement can permanently damage a portfolio — having a non-correlated asset to draw from during down years is a genuine strategic advantage.
Penalty-free access at any age. No 10% early withdrawal penalty. No age restrictions. You can access cash value for any purpose — an investment opportunity, an emergency, a business expansion — without IRS penalties.
Death benefit protection. A LIRP is sometimes called a self-completing retirement plan. If you die before using the cash value, your family receives a leveraged, tax-free death benefit that likely exceeds what you paid in. A 401(k) or IRA cannot offer this — they pass only the account balance, fully taxable to non-spouse heirs.
Long-term care options. Most modern permanent policies offer chronic illness or long-term care riders that let you accelerate the death benefit while alive if you need nursing care or in-home assistance.
Disadvantages
Higher cost than term insurance. Permanent life insurance premiums are significantly higher than term. This is the comparison critics make — and it’s valid if all you need is death benefit coverage. But a LIRP isn’t purchased for the death benefit alone; it’s purchased for the cash value accumulation and tax-free access. Comparing a LIRP to term insurance is comparing a savings strategy to a protection-only product.
Slower growth than equities. A properly designed LIRP will return 4–6.5% depending on the chassis, versus historic equity averages of 7–10%. You’re trading growth potential for guarantees, tax advantages, and downside protection. Whether that tradeoff is worth it depends on what else is in your portfolio.
Long-term commitment. A LIRP takes 7–15 years to build meaningful cash value. If you surrender the policy in the early years, surrender charges may mean you receive less than you paid in. This is not a short-term strategy.
Policy lapse risk (IUL). An underfunded IUL can lapse if costs exceed cash value — and if the policy lapses with outstanding loans, you’ll owe taxes on the gain. This risk doesn’t exist with whole life (fixed premiums, guaranteed values), but it’s real with flexible-premium products that aren’t properly managed.
Complexity. LIRPs require proper design, ongoing management, and an understanding of MEC limits, loan mechanics, and surrender schedules. This is not a set-it-and-forget-it strategy. Working with an advisor who understands policy design — not just product sales — is essential.
Who Should — and Shouldn’t — Use a LIRP
A LIRP makes sense if you:
Have already captured your full employer match in a 401(k) and maxed out Roth IRA contributions. Want additional tax-free retirement income beyond what qualified accounts provide. Are in a high tax bracket now or expect to be in retirement, and want a hedge against rising tax rates. Have a 15+ year time horizon before needing the income. Want principal protection and are willing to accept lower returns for guaranteed growth. Need life insurance coverage anyway — the LIRP lets one dollar serve two purposes. Are interested in infinite banking or using policy cash value as a private banking system during your working years.
A LIRP does not make sense if you:
Haven’t yet maxed out your 401(k) employer match — capture that free money first. Need maximum short-term liquidity — cash value takes years to build. Are within 10 years of retirement — there isn’t enough time for cash value to overcome the early policy costs. Can’t commit to consistent premium payments for at least 10–15 years. Are seeking maximum market exposure and are comfortable with full downside risk.
How to Access Your LIRP in Retirement
There are three primary strategies for taking income from a LIRP, and they aren’t mutually exclusive:
Withdraw your basis first. Under FIFO (first-in, first-out) tax treatment, you withdraw the total premiums you’ve paid before accessing any gains. This is tax-free. Once you’ve exhausted your basis, transition to policy loans.
Take policy loans for tax-free income. Loans against your cash value are not taxable events. With whole life, many carriers offer wash loans where the interest charged equals the interest credited — making the net cost zero. Your full cash value continues to compound while you use the loan proceeds.
Use the LIRP as a market volatility buffer. Instead of drawing from your 401(k) or IRA during a market downturn — which locks in losses and accelerates sequence of returns risk — draw from your LIRP’s guaranteed cash value and let your market-based accounts recover. This is one of the most underutilized strategies in retirement income planning.
For a full guide on the mechanics of accessing cash value, see accessing cash value from life insurance.
Frequently Asked Questions
What does LIRP stand for?
LIRP stands for Life Insurance Retirement Plan. It refers to a strategy — not a specific product — that uses permanent life insurance cash value to create tax-free retirement income. The terms “LIRP account,” “LIRP insurance,” and “LIRP policy” all describe the same approach: a permanent life insurance policy structured for maximum cash value growth and tax-free access.
Is a LIRP the same as a 7702 plan?
Essentially, yes. A 7702 plan refers to any life insurance policy that qualifies for tax-advantaged treatment under IRC Section 7702. A LIRP is a 7702-compliant policy specifically designed and structured for retirement income purposes. All LIRPs are 7702 plans, but not all 7702 plans are structured as LIRPs.
Can I lose money in a LIRP?
With whole life, no — cash value growth is guaranteed by the insurance company. With IUL, the 0% floor protects against market losses, though policy charges are still deducted annually. In either case, if you surrender the policy in the early years, surrender charges could mean you receive less than you’ve paid in. This is why LIRPs are long-term strategies requiring a 15+ year commitment.
How much should I contribute to a LIRP?
There’s no statutory minimum, but most properly designed LIRPs require at least $500–$1,000 per month to generate meaningful cash value. The upper limit is determined by MEC thresholds — your advisor should design the policy to maximize funding without crossing into MEC territory, which would eliminate the tax-free loan benefit.
Does a LIRP affect Social Security benefits?
No. LIRP distributions — whether withdrawals up to basis or policy loans — are not counted as provisional income by the SSA. This means they won’t trigger taxation of your Social Security benefits, unlike 401(k) withdrawals which can cause up to 85% of your Social Security to become taxable. This is one of the most overlooked advantages of the LIRP strategy.
What happens if I stop paying premiums?
With whole life, you can convert to reduced paid-up status, which maintains a smaller death benefit and cash value without further premiums. With IUL, the policy can sustain itself from existing cash value for a period, but prolonged non-payment risks policy lapse. Proper LIRP design typically plans for premium cessation around age 65.
What are the best companies for a LIRP?
For whole life LIRPs, we look for mutual companies with strong dividend histories and flexible policy designs — companies that have paid dividends consistently for 100+ years. For IUL LIRPs, we evaluate cap rates, participation rates, and cost of insurance charges across carriers. Because this varies by age, health, and policy design, the “best” company depends on your specific situation.
Can I use a LIRP if I already have a 401(k)?
Yes — and most of our clients do exactly that. The LIRP functions as a third tax bucket, giving you taxable (brokerage), tax-deferred (401k/IRA), and tax-free (Roth/LIRP) income sources in retirement. This diversification gives you maximum control over your taxable income year to year.
Want to See How a LIRP Works With Your Numbers?
Articles explain concepts. Illustrations show what happens with your income, your tax bracket, and your timeline. Schedule a complimentary strategy session with one of our Pro Client Guides and we’ll build it out for you:
- Custom Policy Illustration: Projected cash value, death benefit, and tax-free loan capacity year by year — based on your actual age, health, and goals
- LIRP vs. 401(k) vs. Roth Side-by-Side: How each bucket performs in your specific tax situation over 20 and 30 years
- Social Security Impact Analysis: How LIRP income avoids the taxation triggers that 401(k) withdrawals create
- Honest Assessment: Whether a LIRP fits your timeline and financial situation — or whether another strategy makes more sense
- No Obligation: Complimentary session with zero pressure to purchase
One illustration with your own data is worth more than a hundred articles. Bring your questions — we’ll show you the numbers and let you decide.
67 comments
Kristy
I have read your article and would like more information. I am 65 and my husband is 68. We currently have IRA’s and Roth’s. Do you have any additional documentation?
Thanks, Kris
Insurance&Estates
Kristy,
I recommend that you reach out to our LIRP pro Jason Herring by emailing jason@insuranceandestates.com.
Best,
Steve Gibbs for I&E
Steven Gibbs is a licensed insurance agent, and the following agent
license numbers of Steven Gibbs are provided as required by state law:
Resident License; AZ agent #17508301,
Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
LA agent #769583, MA agent #2049963, MN agent #40563357,
UT agent #655544.
Michael Iliescu
I am trying to find a good LIRP insurance agent in Arizona. My contact info is 480-XXX-XXXX and my cell is 480-XXX-XXXX
Insurance&Estates
Hi Michael,
I recommend that you reach out to Jason Herring by emailing jason@insuranceandestates.com to request a call if you haven’t already connected with him.
Best,
Steve Gibbs for I&E
Steven Gibbs is a licensed insurance agent, and the following agent
license numbers of Steven Gibbs are provided as required by state law:
Resident License; AZ agent #17508301,
Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
LA agent #769583, MA agent #2049963, MN agent #40563357,
UT agent #655544.
John Hoxie
What determines the surrender charge? Why is it so much? Hasn’t the company already made enough off the product? Is the surrender charge also deducted if the death benefit is paid?
SJG
Hello John, thanks for your question. All UL policies have surrender changes. When you start a policy, the insurance company is counting on premium dollars to be paid. Companies take the premiums and invest them to make money. There is also a cost to the company to start a policy (applications, underwriting, medical exams, medical records, state filing fees, commissions,etc). Surrender charges are a way for a company to get back some of the cost in the early years of the policies if a client walks away from the policy. Most carriers have 10 to 15 year surrender periods, and the charge decreases each year until there is no longer a charge.
I hope this helps.
Best, Steve Gibbs for I&E
Mike
I’m retiring in a few days. Is it too late to start?
Insurance&Estates
Hello Mike, sorry for the delay as we are moving our main office:)
It isn’t too late to start. Lump sums with proper designs can aid in quickly establishing cash value growth. To get started, I suggest you connect with Barry Brooksby by emailing him to request a call at barry@insuranceandestates.com if you haven’t ready.
Best, Steve Gibbs for I&E
James
What is my best lirp for maximum retirement and little to none in death benefit?
Insurance&Estates
Hi James, the best next step to get your questions answered is to connect with Barry for individual discussion by emailing Barry Brooksby at barry@insuranceandestates.com.
Best, Steve Gibbs, for I&E
Mike Masztal
My 18 yo daughter is planning on joining the military after high school. She now works part-time and worked full time last summer. She doesn’t spend much. I convinced her to open a Roth which she did and puts in $200/mo. She had $5k in savings and close to $4K in her Fidelity Roth. For sure, we will have Euro-level taxes when she gets to middle age, if not sooner. So, would a LIRP be reasonable to supplement to her Roth given her age and if so, how much should she begin funding the LIRP on a monthly basis?
Insurance&Estates
Hello Mike, funding a LIRP can certainly be a great vehicle for your daughter to supplement her Roth. To set up, would need to determine her budget and contributions would be based upon base premium plus paid up additons with a schedule of withdrawals beginning at a certain age. To get started, go ahead and email Barry Brooksby to request a call at barry@insuranceandestates.com.
Best, Steve Gibbs for I&E
Robin
Would like recommendations on a LIRP.
Insurance&Estates
Hi Robin, we have a lot some LIRP resources on our website to educate you and when you’re ready, you can connect with our expert Barry Brooksby at barry@insuranceandestates.com.
Best, Steve Gibbs, for I&E.
Mica
I’m 29/yo and am not able to use ROTH IRAs due to my income level. I’m looking for alternative tax advantaged/tax free options for early retirement income. Would you recommend using a LIRP to save/invest over a 10-20 year period before starting to pull funds out for early retirement? Thanks
Insurance&Estates
Hello, we generally do highly recommend a LIRP with a properly designed high cash value mutual whole life policy for this kind of strategy. If you haven’t yet connected with one of our experts, go ahead and reach out to Barry Brooksby at barry@insuranceandestates.com.
Best, Steve Gibbs for I&E
Mica
Can you remove my full name from this? Thanks
Insurance&Estates
Done.
I&E
SJ
Does it still make sense to consider shifting into a LIRP with a long-term care benefit from tax deferred accounts at age 72?
Insurance&Estates
Hello, that question would be best addressed in a 1 to 1 consultation with one of our experts. To schedule, go a head and e-mail Barry Brooksby directly at barry@insuranceandestates.com.
Best, I&E
Dilip
I am looking to. It a LIRPfor me and my wife we are both 40. I am also looking for a LIRP for my 8 year old if that’s a possibility, can you help?
Insurance&Estates
Hi Dilip, we’ve passed your request to one of our Pro Client guides. If you haven’t yet connected, reach out to barry@insuranceandestates.com.
Best, I&E
DJ
Hi I&E Team
First, a great article, thank you very much for the details.
A couple of questions, your advice is much appreciated.
1. I am in the midst of working with an IUL specialist and wondering if you can shed some additional light on MEC (Defined under IRC7702). i.e. when will be policy be termed MEC, with some examples would be helpful to digest the scenario.
2. Sai asked the same question (I have a significant contribution in previous employer 401K) in the comment section, so I would like to know the answer to the question: Can I rollover funds from my ex-employers 401k into LIRP? What are the tax implications of doing that? don’t know much about rule 72(t) but is this a viable option?
Regards
DJ
Insurance&Estates
Hi DJ,
Thanks for commenting and your feedback. If you’re already working with a qualified IUL advisor, he or she should be able to advise you concerning the MEC rules and tax consequences concerning any rollovers. On the other hand, our agents would prefer to work with you exclusively due to the time and effort involved and if you’d like a second opinion on your IUL option, let us know by connecting with Jason Herring at jason@insuranceandestates.com.
Best, Steve Gibbs, for I&E
Todd
Do you assist in the sale of life insurance policies?
Insurance&Estates
Hello Todd, yes we do. Please feel free to connect with Jason Herring at jason@insuranceandestates.com.
Best, Steve Gibbs for I&E
Doris F Abravanel
I would like to know if a LIRP makes sense for me. Can someone get in touch with me please.
Insurance&Estates
Hello Doris, we’ve forwarded your request to Jason Herring. If you haven’t yet connected, reach out to him at jason@insuranceandestates.com.
Best, I&E
Hemant Patel
I am 67 and working full time my wife is 61. We have one son 33 married. We have whole life policies on both our life and a survivor policy. We want to talk to you about LRIP. It looks you are the right person for us to discuss our situation. If you’re available to discuss further let us know. If possible Tel contact.
Insurance&Estates
Hello Hemant, I believe Jason has already reached out to you, but if you haven’t connected yet, go ahead and e-mail him at jason@insuranceandestates.com.
Best,
I&E Pro Team
Sai
Hi
Can I roll over funds from my ex employer’s 401k into LIRP? What are the tax implications of doing that? I heard about rule 72(t). Is this a viable option?
Thanks
Sai
Insurance&Estates
Hi Sai, I believe one of our Pro Client Guides has reached out to you. If not, please feel free to e-mail Jason Herring, jason@insuranceandestates.com.
Best,
Steve Gibbs for I&E
jim cinberg
Wish to review with one of your reps the virtue of myself, age 73 and still working, who has a DBP but wish to use LIRP to provide a tax free stream so that after the current 2026 tax levels stop to minimize the taxes that I’ll be responsible for with my salary, social security and >2 million in tax deferred with their RMDs. I’ve little need for life insurance per se as my spouse will inherit all and have little concerns as she’ll not have my salary to contend with as a tax burden.
thanks.
Jim
Insurance&Estates
Hi Jim, thanks for your insightful comment. Jason Herring most likely has reached out to you. If not, feel free to e-mail him to schedule a conversation at jason@insuranceandestates.com.
Best, Steve Gibbs, for I&E
kumar
Hi,
I am age 35 and want to know the benefit of buying LIRP as compared to buying a 30 year term and fully fund roth 401K. Don’t they have limit on LIRP contribution?
Insurance&Estates
Thanks for your interest and comment! Jason Herring, our National Sales Director, will reach out to you soon.
Best, Steve Gibbs for I&E
James
Question re LIRPs–What are the pros and cons of setting one up for a couple ages 67 and 73?
Insurance&Estates
Hello James, thank you for inquiring. I’ve asked Jason Herring, our top product expert and National Sales Director, to follow up with you.
Best, Steve Gibbs for I&E.
Robert Black
Right, only 2 cons which were dismissed immediately. Sales pitch, never discusses fees or liquidation of assets. Been to a presentation before, get ALL the facts. They will reply, ” We will get back to you.”
Insurance&Estates
Hello Robert, thanks for your comment, although I’m not sure exactly what you’re getting at. Are these cons you’ve experienced concerning the LIRP strategy in general or your perception of something that should’ve been included in the article? Not sure where the reference to “sales pitch” or “they” is directed so simply trying to clarify.
Best, Steve Gibbs for I&E.
Jonathan
enjoyed the articles. I read the IUL and the LIRD. I had a company i sat with mention a IUL.
Your articles were very informative.
Insurance&Estates
Jonathan,
Thank you for the feedback. We appreciate you taking the time to let us know our articles were informative.
Best regards,
I&E
Judy Hajek
I am interested in a LIRP. My husband and I are 55 and 52 respectively. We have 1 mil between our IRA’s and 401K’s, Most of the amounts are in taxable accounts. I’m trying to reduce our taxes in retirement and have read a little about the LIRP. I’d like to know if it makes sense for us at this time in our lives. We both plan to retire at age 60.
Insurance&Estates
Hi Judy,
Thank you for reaching out. Please keep an eye out for our reply via the contact information you supplied.
Sincerely,
I&E
Razi Salman
Is there a way for me to avoid interest received with LIRP?
Thanks,
Razi
Financial Services Mania
A cornerstone of financial planning is the recognition that everyone’s economic and life situation is unique. Personalized service is essential when matching clients with the right financial products and services, and you’ll get nothing less from us.
We will do best Retirement planning with whole life insurance is a powerful strategy that is … “traditional” components of a life insurance retirement plan( LIRP)
Independent, objective portfolio analysis
Asset allocation review
Long-term care cost-benefit analysis
Estate tax reduction and financial legacy review
Insurance&Estates
Yes, everyone’s life and economic situation is unique. There certainly is no “one-size-fits-all” product. Thank you for your insightful comment.
Gisselle
Interested in opening an LIRP
Steven Pfeiffer
I have a significant portfolio, my wife and I are 60 and would be interested in what you might have to offer.
Insurance&Estates
Hello Steven, great to hear of interest and thanks for reading. Will have one of our experienced Pro-Client Guides, Jason or Denise, reach out to you soon.
Best,
Steve Gibbs
TJ Gill
I have some questions and would like to talk to your advisors. Please send me some contact info (Phone # etc.) Thanks
Insurance&Estates
Hello TJ, thank you for your interest. You can e-mail us at info@insuranceandestates.com with any specific questions or contact information or call us at 877-787-7558. Let us know if you’d like to have one of our Pro-Client Guides reach out to you?
Best,
Steve Gibbs
Cindi
I have money in my IRA that a LIRP firm wants me to take $18,000 out of and put in a LIRP. I am 64. Does this make sense? And how long do I have to keep it in before I can take out?
Insurance&Estates
Hi Cindi,
Thanks for stopping by. We would be happy to work with you but we cannot give out specific information to your unique circumstances through the comment section of our website. Please give us a call if you would like a complimentary strategy session.
Sincerely,
I&E
Greg
I am just learning about LIRP’s, and recently heard about a hybrid model where the interest earned ceiling was higher but had a 1 – 2 percent potential loss floor. Would you explain these further for me?
Insurance&Estates
Greg,
We sent an email answering your posted question. Please check your inbox.
Thank you,
I&E
Mark
My wife and I invested in a lirp three years ago. We have been hit with financial hardship and when I asked our financial planner about liquidating the lirp or rolling it over into a traditional annuity they told us that the investment could not be liquidated for what we had invested. In fact he told us that none of the one hundred thousand dollars would be refundable back to us which sounds completely insane Does this sound right?
Insurance&Estates
Mark,
Thank you for reaching out to us. We will be in contact with you shortly.
Sincerely,
I&E
Amulya
I wish you would post the reply here publicly, so that others with same questions can find out the answers.
Kurt Kaufman
I would like more info about creating a Life Insurance Retirement Plan.
Insurance&Estates
Kurt,
Thank you for stopping by and for leaving the request. We will reach out to you shortly with some additional information on LIRPs.
Sincerely,
I&E
Mike
Great article. My wife and I started a LIRP last year to supplement about 500k in 401k savings. With 25 years until retirement we set our LIRP up under 10k annual payments to provide a $5000 monthly income at age 65. Thank you for the great read.
Insurance&Estates
Mike,
Happy Memorial Day! Thanks for stopping by. Glad you enjoyed the article.
Sincerely,
I&E
gary
Can you wrap in supplemental medical, dental, etc insurance, disability, rehab, etc. into a LIRP?
Jack Maverick
Very good question from Gary – I hadn’t thought of that. 🙂
Insurance&Estates
Gary,
Thank you for the inquiry. We will reach out to you shortly via the contact info you provided.
Sincerely,
I&E
Rk
Interested is in lirp with minimal death benefit and premium. Mainly interested for health riders and tax free access.
Thanks