Pros/Cons of a Roth IRA Conversion to a Variable Annuity vs. Variable Universal Life Insurance
I have a 70 year old male client that is considering moving his Traditional IRA (that is in a Variable Annuity) to a Roth IRA in a VA OR a Variable Universal Life Insurance policy.
What are the pros/cons of a VA vs. a VUL for his Roth conversion.
Thank you,
Chris Fowler
Permalink Submitted by Bruce Steiner on Wed, 2021-05-26 23:19
He can’t buy life insurance in his IRA. So he would have to withdraw the money, giving up the benefits of the IRA.
Life insurance and annuities are the opposite of each other. Life insurance protects against the risk of dying early. An annuity protects against the risk of living too long. Which if either of these does he need to protect against?