Life Insurance Retirement Plans (LIRP). Scam or 2nd best to Roth?
Scam or 2nd best to Roth? the bulk of my retirement money is in IRAs. The idea of moving from the IRAs to LIRPs was recently presented to me as a viable Principle Protection strategy. The internet seems to view LIRPs as a potential approach to Principle Protection and perhaps a 2nd best approach to Roths. Summary of internet says to beware of high fees and hidden fees, but with caution this may be a method to protect oneself from market fluctuations. What is the general opinion about LIRPs from the Ed Slott community?
Permalink Submitted by Jody Howard on Fri, 2016-09-23 21:15
You can achieve principal protection without using life insurance. NO insurance policy will make up for the taxes you pay to take the IRA distribution to fund the life policy, no matter what ANYONE tells you.