Life Insurance Policies
Hello,
A client has life insurance held within a 401k. He has terminated from his employer and is looking into the options for this insurance policy. Are we able to confirm if the policy can be rolled into an IRA?
Hello,
A client has life insurance held within a 401k. He has terminated from his employer and is looking into the options for this insurance policy. Are we able to confirm if the policy can be rolled into an IRA?
Permalink Submitted by David Mertz on Thu, 2018-08-23 18:52
From IRS Pub 590-A page 27: Life insurance contract. You can’t roll over a life insurance contract from a qualified plan into a traditional IRA.