Tax-Free Income Options
In addition to providing lifetime income options, our practice also offers tax-free* income choices for retirees as well. Certain life insurance policies, such as indexed universal life insurance (IUL) may provide a way to take income during retirement, tax-free*. Because an IUL is not an investment, it is not subject to the same rules as traditional retirement account options. For example, IUL’s do not have a maximum contribution limit like traditional 401(k)s or IRA(s) do.
Sometimes we’ll use an IUL as another savings account. Since the income can be taken out at any time, tax-free, an IUL can be useful for additional expenses. Or, you may choose to take income from it so that the rest of your retirement remains in-tact. Everyone has a unique situation, of course, so be sure to talk with us to find out if an IUL could be right for you.