Updated: Sep 22, 2021
An IRA Wealth Transfer Strategy that includes a life insurance policy can help preserve your wealth and protect your assets.
We all know that life insurance can help your loved ones cover expenses they currently (or will someday) face if your earnings were no longer in the picture.
Some of the most common immediate and everyday expenses people
use life insurance for include:
Funeral and burial costs
Mortgage or rent
Household upkeep expenses
Credit card debt
Future college costs
But that’s only part of the story…
Life Insurance can do even more to help the ones you love.
Beyond covering burial costs, replacing income, and paying for many other living
expenses, your policy can have living benefits that accumulate cash value over time. You can use that cash for whatever you like: to help buy a home, cover an emergency
expense, supplement your retirement income, or as part of an IRA Wealth Transfer
Strategy to minimize the income tax your beneficiaries will need to pay on their
Would you rather leave your legacy to your children or the IRS? Without some strategic
planning, good ol’ Uncle Sam could get a substantial chunk of your hard-earned savings
and investments (Instead of your kids!)
An IRA Wealth Transfer Strategy that includes a life insurance policy can help
protect your beneficiaries from paying unnecessary taxes on their inheritance
by having the policy itself pay the taxes for them.