Thursday, March 5, 2015

Why the tax advantages of life insurance can stretch retirement income - Life Insurance Income Strategies



Non modified endowment life insurance cash value contracts can be a supplemental retirement option and, in certain circumstances, act as a legitimate standalone retirement plan. Although it is not deductible like a qualified plan, it can generate tax free distributions via withdrawals of basis (in the appropriate years) and collateralized policy loans of gain. These types of distribution are not included in the provisional income test for Social Security benefit taxation.

The distributions of non modified endowment life insurance cash value contracts, as described above, can help delay other retirement sources to maximize accumulation and minimize taxation.

Syndicated financial columnist and talk show host Steve Savant interviews life insurance income specialist Don Prehn, CLU, ChFC. For over 20 years Don has been presenting cash value life insurance as a financial product option. This is episode 4 of 5 in the series, Life Insurance Income Strategies. http://youtu.be/eeEj5mrhgqI

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Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

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