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Started By
Message
re: Indexed Universal Life policy. Who has done it?
Posted on 7/28/23 at 10:03 am to L S Usetheforce
Posted on 7/28/23 at 10:03 am to L S Usetheforce
quote:
Well based off what I’m putting in right now at 58 I’m going to have 65k a year In tax free income. If I pay it to 63 I’ll have about 75k per year…..TAXFREE
Explain that one for me, please.
UL is tax deferred.
You may have something that I haven't heard of.
The only tax free "investment" to my knowledge is HSA.
Roth for tax free gains. Life insurance isn't eligible as a Roth.
You may be able to get favorable withdrawal status. But anything withdrawn over premiums paid should be taxable.
1
Posted on 7/28/23 at 10:15 am to meansonny
There are some concepts out there where you fund these policies to the point where the value is high enough to loan yourself an income stream….and the loans aren’t taxable. They reduce the face value at death. I looked into it and still couldn’t figure out how this would create more value than just investing the money other than maybe internal caps on market losses and tax free accumulation? The amount you need to pay in premium over time is substantial to get to that point.
Still too many hands in the pot IMO.
Still too many hands in the pot IMO.
This post was edited on 7/28/23 at 10:20 am
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