Why choose an indexed universal life (IUL) plan?

  • No contribution limits
  • No penalties from IRS or state for withdrawing money before age 59 ½
  • No withdrawal requirements
  • No loan limits or repayment requirements

When life doesn’t go as planned, you may need to borrow money from your traditional qualified plan. However, should you lose your job for any reason — including your employer going out of business — you are required to pay back the qualified loan immediately. Making the switch to a private plan means you have more control over how and when you pay yourself back.

Indexed Universal Life income can be tax-free, if set up properly. The money that passes on to heirs is also tax-free.

Is a tax-free retirement possible? Yes. It’s all about where you place your retirement savings. While most people struggle to choose between a 401(k), Roth IRAs, SEPs, Simple IRAs, and other similar options, the distinction between each of these is in the tax codes.

The alternatives to these accounts can keep you from paying a huge chunk of your savings in taxes. In fact, the 7701 tax code states that life insurance benefits to an individual are tax-exempt. With this opportunity, you can increase your fund accumulation without losing your income.

Elite Retirement Strategies is happy to explain the benefits of an IUL account, as well as the ins and outs of retirement tax code, so don’t hesitate to reach out to learn more about our financial services. We believe in setting up our clients for financial success and longevity. Give yourself the retirement funds you deserve. Call now.