Boosting Retirement Income with Index Universal Life Insurance
Because people are living so much longer today, one of the biggest question on the many peoples’ minds is, “Will I have enough income to last me through retirement?”
Unfortunately, the income that is generated through Social Security and traditional retirement savings plans may not be enough. With that in mind, you may need to turn to alternate sources in order to fill in the gaps. One way to do so is through the tax advantaged features of an index universal life (IUL) policy.
First things first. I would mostly recommend this strategy for an individual who has first maxed out all his tax advantage retirement options like a 401K, Roth or Traditional IRA. This is a strategy is a way to get income tax free withdrawals that can supplement other forms of taxable income in your retirement years. Some advisors have called this strategy a super ROTH.
How Index Universal Life Can Provide Retirement Income Solutions
While index universal life insurance does provide many of the same protections that other types of permanent life insurance offer, it can also offer much more flexibility in terms of its cash account, as well as many additional advantages too, such as: