Retirement is the time in your life when time is no longer money.
When it comes time for retirement, many people keep asking themselves:
They also wonder if:
…it’s too late to fund an Individual Retirement Account (IRA)? Are there alternatives I can take advantage of now?
…are are there alternatives to 401(k) accounts? I don't have the time or employer resources to fund one.
And additionally, people are trying to find tools they can use to take advantage of tax-free growth without contribution limits and thereby provide them with tax-optimized retirement income. Even for people over age 55, catch-up contributions to 401k accounts or IRAs may not allow the accumulation of assets needed to feel comfortable in retirement. Is there a way to create a similar tax advantaged account without using a 401k or IRA?
Private Placement Life Insurance (PPLI) and Private Placement Variable Annuities (PPVA) are powerful tools to help achieve these goals. They can serve as 401k and IRA alternatives that accomplish the same goals.
For example, Private Placement Life Insurance (PPLI) provides tax-free growth, asset protection, and a non-taxable transfer to your heirs.
Advantages are numerous, but most importantly PPLI can provide income to you via tax-free loans of up to 90% of the cash value of the policy. These loans need not ever be repaid by you, they are repaid out of the policy’s death benefit.
Alternatively, Private Placement Variable Annuities (PPVA) provide the periodic income of a traditional annuity but with an unlimited universe of investment options and tax-deferred growth.
Click to learn more about using PPLI or PPVA for retirement income or contact us to discuss a retirement income strategy today.
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This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor. We are not a law firm or a substitute for a law firm or an attorney. We do not provide legal advice of any kind or legal strategies, opinions or rights. Private Placement Life Insurance and Annuities are unregistered products and are not subject to the same regulatory requirements as registered products. As such, Private Placement Life Insurance and Annuities can only be offered to accredited investors or qualified purchasers as described by the Securities Act of 1933.
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