Insured Retirement Strategy

Insured Retirement Strategy

  • Client Profile
    • RRSPs are maximized, through contributions, or due to pension adjustments.
    • Free of non-deductible debt.
    • Client attracting highest marginal tax rates, with an underlying need for insurance.
    • Generally require at least 10 years from date of last deposit until date of first “withdrawal”.
  • Solution Opportunity
    • Client purchases and overfunds UL contract, which allows for over contributions to grow in a tax-sheltered environment.
    • Face amount is minimized to keep costs low.
    • Loans or line of credit from a bank or other financial institution are received tax-free by client, and used to augment retirement income.
    • Upon death, loans are repaid from cash values; face amount is paid to beneficiaries.

 

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Posted ON Tue, May 18, 2021 at 4:38:10 pm MDT    Comments (0)
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