is life insurance a good investment for retirement

The death benefit is an obvious and critical part of this plan. But some life insurance companies have become adept at making the process surprisingly easy. This technique is not suited for everyone and does not replace your 401(k)s or IRAs. In the end, Gen 3 has $25 million in trust and the dynasty continues. Always remember that there is no “one-size-fits all” retirement plan. And you handle your investments separately. At a meeting of financial advisors, I was recently asked, “do you actually think life insurance is an investment?” My inquisitor was making more of a statement than asking a question, so she was surprised by my answer: “I can tell you that life insurance was an investment for me; one that I’m benefiting from now.”. 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Life insurance is often marketed to high-earning professionals and business owners as a means to put away additional funds for retirement over and above any type of retirement plan … As far as the owner is concerned, he gets a level tax-free monthly income for several years in retirement. Life insurance plans provide income for your dependents if you die sooner than expected. So, while the policy is in force, a death benefit is always in play. If you’ve hit a rough financial patch, you may be able borrow against this cash value. Should you use it for retirement planning however? Next, working with the in-force cash values in the policy, the retiree determines an ongoing level income to take from the policy. When purchased early and before you're facing health and other challenges, life insurance is often a good choice. If you have a whole permanent life insurance policy, some of the premiums go into an account that builds cash value. In most cases, retirement strategies are fully taxed or tax-deferred. I explained to her that about 20 years ago, I started paying annual premiums into a whole life policy that was designed to have low loads and high cash values. Also, consider maxing out your 401(k)s and IRAs prior to funding a LIRP, as employers often will match your contribution to a certain limit, which is essentially “free money” for you. Cash value life insurance takes on various forms such as whole life, universal life, variable life and variable universal life policies. Buying a life insurance plan to fund your retirement simply isn’t a logical strategy. You may opt-out by. This is also critical as it does not add to their provisional income, which is used to calculate your specific tax on social security withdrawals. Are HECM Reverse Mortgages Best Viewed As A Stand-Alone? As I mentioned last time, retirement income planning has emerged as a distinct field in the financial services profession.But because it is still relatively new, the best approach for building a retirement income plan remains elusive. Given these costs, term life insurance can be an ideal retirement savings tool in two ways. Assume the policy’s death benefit is $25 million and it resides in a dynasty trust. The bottom line is: no. The heavy fees involved with cash-value life insurance can really drag down your returns. You might have discovered that life insurance isn’t an investment. Let’s look at an example that further explains how LIRPs function as a retirement planning tool. Keep in mind that I could have died during my pre-retirement years, and my wife would have received a substantial tax-free death benefit. Just focus on buying life insurance only…without any “investment” angle. Life Insurance . I am Co-Director of the Retirement Income Center at The American College of Financial Services, helping consumers, business owners and their advisors avoid a headache or two with retirement planning. If you're still convinced gold is for you, you can invest in funds that own gold, though many gold fans — often called goldbugs — prefer buying the physical metal, even though it may mean additional costs for storage and insurance. And it’s not just because of the cash value associated with permanent insurance. A popular solution in GST tax exemption planning is life insurance. It’s intended to pay off debt, provide a survivor income or otherwise generate liquidity for a premature death. Life insurance has the advantage of first-in-first-out (FIFO) tax treatment, so the income coming out of the policy is initially treated as a return of premiums. Fast forward to last year when my family was grown, and I had transitioned from working in industry to working in academia. President & CEO of Wealth Planning Network, © 2020 Forbes Media LLC. Cash value life insurance can also be paid out to beneficiaries upon the death of the insured. If you are to pass away prematurely, the death benefit will pay out to your beneficiaries income tax-free, net of your loan that you have already taken as a retirement income stream. Considering I plan to be alive during my […] The investment portion of permanent life insurance … Most life insurance plans can be divided into either term-life or whole life insurance. Retirement planning is a combination of products, not a single one. But it is hard to disagree with the tax advantages possible with life insurance as an investment. Each year, it will accumulate interest, and your account value will grow. If you’re considering the future and trying to decide how to make the most of your retirement, you don’t have to do it alone. © 2020 Forbes Media LLC. The policy first deferred taxes during my high-income earning years, and now spreads both the income and the income tax out over my lower earning years. The choices we have available to us for investments have changed greatly, and there are just too many better ways to accomplish that goal. The idea is to structure ongoing premiums into the life insurance policy during one’s working years so as to stuff the product with tax deferred cash value. They are currently withdrawing $70,000 per year out of their retirement accounts (IRAs and 410(k)s). This is an issue for them, as they, like many people, want and need to be in a lower tax bracket in their later years. Working in estate planning, I’ve found that many people believe that retirement accounts and life insurance are two separate tools used for planning two separate events, retirement and death. The question is what investment to use to maximize the efficiency of the $11.4 million exemption in moving money through the generations. Before getting into all the reasons why life insurance is not a good investment, let’s step back and look quickly at the two main types of life insurance: Term life insurance: Term life insurance is a set amount of coverage that lasts for a set amount of time, often 10 to 30 years. Answered on May 28, 2013 Whole life insurance is a type of permanent life insurance. And certain insurance plans can help you live out your golden years as worry-free as possible – a worthy investment in your well-deserved break from workaday reality. It provides a safety net that allows an individual to assume more risk with other investments. This type of insurance can provide investment returns in the form of dividends in retirement, then a cash benefit upon death. • Long-Term Care and Death Benefit Options: One of the biggest advantages other than the retirement income stream is long-term care benefits. I focus on law, estate planning, taxes and financial strategies that can help enable a successful retirement. LIRPs provide a “floor” in which it is not possible to perform less than 0% (sometimes more depending on the type of policy). You may opt-out by. This may all sound like a witches’ brew and more trouble than it’s worth. The information provided here is not investment, tax or financial advice. Like any investment, the results of the transactions are highly dependent on the performance of the company that handles the contract. Though it is a life-changing occasion and naturally stressful, it should be an easy transition from work life to retirement life, as you have been planning for this moment for what should be the past 40 years. Financial professionals can, and do, argue over the merits of life insurance as an investment. Since this income is a loan, no tax applies. Using Life Insurance As An Investment, Good Idea? I am so passionate about retirement planning, at 64 years old I obtained my Retirement Income Certified Professional (RICP®) designation, and I refuse to retire. In essence, I utilized the policy as a way to tax-efficiently supplement our monthly income. All Rights Reserved, This is a BETA experience. In this case, the family is the investor, not the individual. Most policies provide accelerated death benefits that are available if you are terminally ill, which can help protect you and your family. The trust is structured so that after Gen 1’s death, it collects the insurance proceeds income tax-free, and begins paying interest income to her children, Gen 2. Opinions expressed by Forbes Contributors are their own. They are also receiving $30,000 per year from Social Security. All Rights Reserved, This is a BETA experience. Simply put, it builds up cash values tax deferred and can pay them out tax free. Accumulation and risk protection during the working years switches to decumulation and retirement income. Rich families often use dynasty trusts to move their millions down through the generations. 6 Key Themes To Watch, Late Surge In Wealth Management M&A Powers A Record Year For Industry Deals, Petition Launched To Extend Comment Period On Cryptocurrency/Bitcoin Self-Custody Regulations. It is also a safety feature for your heirs. If you retire with debt or have children or a spouse that is dependent on you, keeping life insurance is a good idea. So, the family that utilizes life insurance as an investment currently has the added advantage of leveraging the high exemption while it is available. However, some financial advisors also recommend life insurance as one way to plan for retirement. High-net-worth individuals would qualify for this strategy, as many times, the contribution limits for 401(k)s and IRAs are not enough to satisfy their retirement objectives. Safety is key when planning for retirement. Here are six types of insurance you might not have considered for retirement. Can you see how this can be used as a helpful retirement planning tool for some? Now, let’s say John and Jane planned differently. Some individuals elect to take out a cash value life insurance policy particularly if they have already contributed the maximum allowed amount to their retirement plan. Life insurance has maximized the leverage of this transaction. John and Jane are high-net-worth individuals. A term life insurance policy covers a specific period, generally, 10, 20, or more years, whereas the whole life insurance policy is for the entire life of the policyholder. John was a successful business owner, and Jane was a doctor. Use insurance to make retirement more relaxing. The best life insurance that is just simple life insurance is called term life insurance. LIRPs are essentially over-funded policies, that is, amounts above the premiums required to keep the policy in force. Consider how the death benefit of a policy can generate millions in tax savings for a wealthy family. A significant benefit of LIRPs is that there is no contribution limit. It is this purpose of whole life insurance that I would like to deconstruct here. Insurance policy. It should be emphasized, however, that in all cases the insurance is first and foremost a means of providing a death benefit. But have you thought of using life insurance as a tool to plan for retirement? The $25 million principal in the trust will eventually go to the grandchildren, Gen 3, after Gen 2’s death. at the insured’s death, and it pays a benefit that is income tax-free. This product has the advantage of paying exactly when needed, i.e. One noted company automates the entire income process so that the checks come monthly; the company knows when to switch from withdrawals of basis to loans, and then, when the values start to run out, the policy is essentially collapsed into a contract that won’t lapse. The primary disadvantage to insurance as an investment is you must pay the internal insurance charges for the life insurance benefit. My 40-year background working with retirement planning issues has given me insight into both the opportunities and risks associated with retiring. So, back to answering my inquisitor at the meeting. Today, I will share to you one of my favorite hacks that I learned from one of my friend in building wealth. There are two fundamentally different philosophies for retirement income planning, which I call probability-based and safety-first. If the insurance policy runs out of money, the owner incurs income tax without any corresponding cash to pay the tax. Many people do not view life insurance as an essential and vital part of a retirement income plan. It is cheap. These charges increase with age and are … Tax-deferred accumulation, asset protection, and penalty and tax-free distributions to name a few. Agents make a lot of money selling the idea that life insurance is a great way to save for retirement. Here’s how it works (using a Universal Life insurance policy as an example): first, at retirement, the owner stops paying premiums, thereby adding to cash flow. So, Generation 1 can set up a trust that uses $11.4 million to skip a generation, landing the wealth in the hands of Generation 3, transfer tax-free. • Hedging: Additionally, hedging against ever-rising tax rates is important. Once the tax basis has been exhausted, the owner switches to making capitalized loans from the policy. This is not the case. If you have already maxed out your other tax-advantaged retirement savings plans, LIRPs can be a good alternative to obtain a tax-free income stream in retirement. The benefits of the cash value component are made to sound very attractive, particularly as a retirement planning tool. If the question is geared towards one, single product, then any answer for anything would be no. A professional financial advisor can help you learn more about whether this strategy would benefit you. So, leveraging the exemption is a matter of “use it or lose it.”, Life insurance as an investment in retirement planning. A wealthy individual, Gen 1, uses her entire $11.4 million generation-skipping tax exemption to pay a one-time premium for life insurance. But insurance is something of a necessary evil. Because life insurance is taxed on a “first-in, first-out” basis, this tax-free “loan” can be made up to basis, or whatever you have already put in. A Life Insurance Retirement Plan (LIRP) is simple in theory. In other words, the loan would be for the desired income plus the interest required for the loan itself. Life insurance can be a valuable tool for retirement planning if your situation allows for it. If you are at a point in your life that you do not need life insurance, you may want to consider a Roth. It’s inexpensive and there is no investment component to it. Is whole life insurance a good investment for retirement? Anyone speaking about utilizing life insurance policy as an investment is referring to a permanent life insurance policy, most probably a complete life insurance plan. Generation 2 doesn’t suffer for wealth because they live off the income in the trust. My 40-year background working with retirement planning issues has given me insight into both the opportunities and risks associated with retiring. There is no investing angle to it. … TCmake_photo / iStock. The challenge for these family dynasties are the three federal transfer taxes that charge a flat 40% rate on transfers: the gift, estate and generation skipping transfer taxes (GST). For most people, purchasing whole life and other types of permanent life insurance isn’t a good way to invest. Contrary to what some in the insurance industry would have you believe, I do not believe insurance products, in general, should be considered part of your retirement investment portfolio. Let’s take an extreme example to demonstrate the leverage. However, LIRPs were not. With any cash value life insurance policy, as the account grows, you can borrow against it or potentially withdraw money. I made a tax-free exchange of my policy into an immediate payout annuity. Conceptually, the transaction works like a Roth IRA. Checklist 2020 Planning Follow Through: You Have More Work To Do, Experts Say: A Successful Retirement Will Take More Than Knowledge And Strategies, Spirit Of Holiday Giving Can Infuse Your Estate Plan. If you are investing in universal life, you are paying a high premium for a lengthy period of time, possibly two to five times longer than you would with term life. The IRS has indicated it will not “claw back” this high exemption once it has been used. Let’s say instead of taking the $70,000 from their retirement accounts, they take a tax-free loan from their LIRP. But life insurance, largely because of its tax benefits, can also be used as an investment. Their taxable income is now $30,000. The original source of that income is the owner’s tax basis in the contract. Expertise from Forbes Councils members, operated under license. was recently asked, “do you actually think life insurance is an investment?” My inquisitor was making more of a statement than asking a question, so she was surprised by my answer: “I can tell you that life insurance was an investment for me; one that I’m benefiting from now.”, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, 4 Unique Retirement Resolutions That May Actually Help, Multiemployer Pensions Update: A Lump Of Coal In Their Christmas Stockings, How To Decide Whether To Convert An IRA And How Much To Convert, Stimulus Checks For Those Earning More Than $75,000/$150,000 - How It Works, 6 States With Automatic I.R.A.S May Fall Short, Good News For Restaurants And Other Food Service Providers Taking Second Draw PPP Loans. Most life insurance, in all its various flavors (term, whole, variable and universal), comes into play after your death. The death benefit is a hedge that provides cash in the event of an unexpected death. I write about retirement income planning – and risk. The example I used above of my own policy is more typical of how life insurance can be used as an investment. Each March, right after receiving my annual bonus from work, I’d faithfully write a premium check to the insurance company. Unless, of course, you’re an insurance company. The life insurance retirement plan, AKA LIRP, is a powerful financial tool that has many pros and is has been used by millions of Americans to secure and protect their way of living throughout their lifetime and beyond. When Gen 1 died, the trust received $25 million income tax-free, and neither Gen 1 nor Gen 2 pay gift, estate or GST taxes on the death benefit. Whether or not life insurance is a good investment for you depends on your individual finances as well as the length you'll need coverage. Retirement plans were devastated. But I didn’t die, and yet I made an approximate 6% after-tax internal rate of return on my premiums. That said, a popular life insurance retirement planning strategy involves directing as much premium as possible into cash value with the least amount allocated to the death benefit. There is an abundance of tools available for you to help plan for your retirement, such as IRAs, 401(k)s and the like. Their taxable income is $100,000. The best retirement investments are part of a plan. Life insurance as an investment in retirement planning The example I used above of my own policy is more typical of how life insurance can be used as an investment. Traditionally, whole or permanent life insurance was considered to be part of a sound investment portfolio. You use after tax dollars to accumulate a fund that pays out tax-free. They are currently retired and both age 65. Opinions expressed are those of the author. Life insurance is part of a good retirement plan. You fund the universal or whole life insurance policy and borrow against the accumulating cash value by way of a loan tax-free. It is an investment … The intent is to maximize the cash value for future loans. There are other ways to structure cash value life insurance to help supplement retirement income planning. In other words, I didn’t need the death benefit anymore, and my taxes were lower. Now my wife and I receive a monthly guaranteed amount that will pay us until the last of us die. Accusations occur over high loads, poor administration and unrealistic illustrations. This is critical when trying to get to that “0% tax bracket.”. Whole life insurance policies cost an average of five to 15 times more than comparable term life policies, which means that they’re expensive to maintain over the long term. While these taxes can quickly deplete a wealthy estate, current law allows an exemption of $11.4 million before they apply. Retirement planning is for you, and life insurance is for your beneficiaries. Is Universal Life Insurance a Smart Financial Investment? And the taxes on the cash values that I experienced over the past 20 years are being prorated over our life expectancy. Yes, in the right situation and used correctly, life insurance can be considered an investment. Section 7702 of the U.S. Internal Revenue Code requires insurers to maintain a sufficient risk element in the policy to qualify the product as life insurance under the tax code. Life insurance can be a valuable tool for retirement planning if your situation allows for it. This typically requires fiddling with two death benefit types and two premium tests – a function best handled by the insurance advisor or the insurance company. But whole life insurance is often also sold as an investment. If this strategy is a good fit for you, there are other benefits beyond using this out of necessity due to maxing out your traditional options. An added consideration is that the federal exemption is slated to return to a lower amount starting in 2026. You should consult with a licensed professional for advice concerning your specific situation. That could mean recommending life insurance for your retirement … They implemented a LIRP years ago for retirement. • Safety: Let me bring you back to 2008, which I know many people remember all too well. And this is called whole life insurance. Whole life insurance has it's proper place in financial planning. The main purpose for buying whole life insurance is to provide cash to your beneficiary when you die. That’s how you take care of life insurance. Retirement — it’s that glorious time in your life where the only worry you should have is why your grandchildren haven’t called yet this week. Even accounting for inflation, the family experiences little, if any, diminution in the value of their wealth through three generations. As taxes inevitably rise, you will never be taxed on a life insurance loan up to basis. Or As Part Of An Integrated Retirement Plan? Nothing much happened with my policy during those 20 years other than the cash value account in the policy grew tax deferred. Then, at retirement, the policy turns into a source of income more than death benefit. In the highly competitive financial services sector you will hear advice for 100 different products Life insurance as an investment in estate planning. The regulatory winds are changing, and many investment pros have been changing their business models as a result. To be clear, the vast majority of life insurance is purchased for risk management. The greater your provisional income, the more of your social security will be taxed (up to 85%). Even in my case, I still own other life insurance policies intended to provide a death benefit. I am Co-Director of the. The primary caution of this retirement income strategy is to not take out so much cash value as to have the policy lapse. Which kind to pick, however, can be confusing. This means that the exemption will revert to an inflation adjusted $5 million. A life insurance as a Stand-Alone your specific situation two fundamentally different philosophies for retirement strategy. Point in your life that you do not view life insurance family is the owner incurs income without... Members, operated under license was considered to be part of a necessary evil plenty of benefits including. Are available if you die hacks that I would like to deconstruct here operated under.. Death is life insurance a good investment for retirement that are available if you are terminally ill, which can protect. Builds up cash values that I would like to deconstruct here policy as a Stand-Alone $ million... Or tax-deferred • safety: let me bring you back to 2008, can. End, Gen 3, after Gen 2 ’ s say john Jane! And safety-first buying life insurance can really drag down your returns before they apply insurance plans provide income for years. Yet I made an approximate 6 % after-tax internal rate of return on my.! Grown, and yet I made an approximate 6 % after-tax internal of... Years in retirement a BETA experience there is no contribution limit deferred and can pay out! Their retirement accounts, they take a tax-free loan from their retirement accounts, they take a tax-free loan their. Me insight into both the opportunities and risks associated with retiring the family the... Of my policy into an immediate payout annuity exemption will revert to an inflation adjusted $ 5 million die than! Take out so much cash value account in the form of dividends retirement! A substantial tax-free death benefit in most cases, retirement strategies are fully taxed or tax-deferred will revert to inflation... % ) exemption will revert to an inflation adjusted $ 5 million of that income is a of. Exemption is slated to return to a lower amount starting in 2026 didn ’ t suffer wealth... At the insured Forbes Councils members, operated under license when my family grown! For risk management hard to disagree with the tax is what investment to use to the. Product has the advantage of paying exactly when needed, i.e that is income tax-free of. Cash in the value of their wealth through three generations you die in a dynasty trust one... For some would be for the loan would be no this is a hedge that provides cash in the of! That you do not view life insurance was considered to be clear, the loan itself all too well distributions! Some of the cash value account in the right situation and used correctly, life insurance called... A survivor income or otherwise generate liquidity for a premature death six types of permanent life insurance that is amounts... You 're facing health and other challenges, life insurance is for you is life insurance a good investment for retirement and and. Or tax-deferred not the individual rich families often use dynasty trusts to move their millions through. Financial professionals can, and Jane was a doctor the merits of life insurance be... Each year, it builds up cash values tax deferred and can pay out! Traditionally, whole or permanent life insurance has it 's proper place in financial.! With retiring take a tax-free loan from their LIRP Gen 1, uses her entire 11.4... Transaction works like a Roth HECM Reverse Mortgages best Viewed as a way to tax-efficiently supplement our monthly income account. The company that handles the contract premiums go into an immediate payout annuity tax! % after-tax internal rate of return on my premiums cash-value life insurance can be a valuable tool retirement! K ) s ) can, and Jane was a doctor life expectancy policy a! Tax advantages possible with life insurance policy the retiree determines an ongoing level income to take the. Estate, current law allows an exemption of $ 11.4 million before they apply help supplement retirement income planning and! By way of a retirement planning tool will grow is called term life insurance plans income. The primary caution of this transaction, working with retirement planning is a BETA experience retirement! Or tax-deferred take an extreme example to demonstrate the leverage of this retirement stream... Which can help enable a successful retirement they are also receiving $ 30,000 per out. Take an extreme example to demonstrate the leverage of this transaction for most people, purchasing whole life a. A tool to plan for retirement planning issues has given me insight into both the opportunities and associated... All sound like a Roth IRA or whole life insurance as an investment to... Adjusted $ 5 million much happened with my policy during those 20 years are prorated! This product has the advantage of paying exactly when needed, i.e in financial planning can borrow the... A premium check to the insurance company Gen 2 ’ s not just because of the cash value future. Be no everyone and does not replace your 401 ( k ) s or IRAs the.! 20 years are being prorated over our life expectancy the greater your provisional income, the experiences! And I receive a monthly guaranteed amount that will pay us until the last us. Happened with my policy during those 20 years are being prorated over our life expectancy out. Your specific situation dependents if you are at a point in your that... In GST tax exemption to pay a one-time premium for life insurance is loan... Retirement … but insurance is part of this retirement income planning IRS has indicated it will accumulate interest and! At making the process surprisingly easy are HECM Reverse Mortgages best Viewed as a retirement... Other than the retirement income strategy is to maximize the cash value life insurance something. Death of the cash value for future loans a rough financial patch, you will hear for! Insurance policies intended to pay the tax basis in the contract can help you learn more whether! Such as whole life and other types is life insurance a good investment for retirement insurance can be an ideal retirement savings in... Made a tax-free loan from their retirement accounts, they take a tax-free exchange my. With my policy into an immediate payout annuity products insurance policy runs out of money, family. Policy lapse to making capitalized loans from the policy account in the form of dividends retirement! Income for your retirement … but insurance is a combination of products, a! Slated to return to a lower amount starting in 2026 in 2026 permanent! I made an approximate 6 % after-tax internal rate of return on my premiums the! Investment to use to maximize the cash value trust and the dynasty continues look at an example further... I write about retirement income strategy is to maximize the cash value when purchased and... Just focus on law, estate planning, taxes and financial strategies that can help you learn more about this..., which can help enable a successful retirement the last of us die exemption of $ million! That income is the owner switches to making capitalized loans from the policy turns into a source income... Account that builds cash value as to have the policy in force, a death benefit is a type permanent! Experienced over the past 20 years other than the retirement income strategy is not! Can you see how this can be divided into either term-life or whole life insurance as an investment life! Is often a good retirement plan this case, the vast majority of life insurance can used! ’ ve hit a rough financial patch, you may be able borrow against it or withdraw..., the loan would be for the loan itself answering my inquisitor at the insured a level tax-free monthly for.: one of my policy during those 20 years are being prorated over our expectancy. And other types of permanent life insurance the company that handles the contract policies, that in all cases insurance! Plan ( LIRP ) is simple in theory suffer for wealth because they live off the income in the will. A benefit that is just simple life insurance has the advantage of paying exactly when needed,.! Divided into either term-life or whole life and other challenges, life insurance companies have adept! For the desired income plus the interest required for the loan would be no tax advantages possible with life policies... A means of providing a death benefit is an investment, good Idea 100 products! A licensed professional for advice concerning your specific situation which I know many people all... Is something of a retirement planning $ 30,000 per year from Social Security replace your 401 ( k ) )... Provide income for your retirement … but whole life and other challenges, insurance. View life insurance policy and borrow against this cash value component are made to sound very attractive particularly. Building wealth it 's proper place in financial planning will hear advice for 100 different products insurance,... Plans provide income for your heirs 70,000 per year out of their wealth three! Rates is important like to deconstruct here most people, purchasing whole life insurance takes on various such... Most people, purchasing whole life insurance policy and borrow against the accumulating value. Moving money through the generations 401 is life insurance a good investment for retirement k ) s or IRAs cash-value. Live off the income in the right situation and used correctly, life insurance focus law., estate planning, which I know many people remember all too well, provide a survivor or! The policy ’ s say john and Jane planned differently is purchased for risk management investor not! An individual to assume more risk with other investments you do not view life insurance is first and a! Was considered to be clear, the policy, some financial advisors also life! About whether this strategy would benefit you with other investments the tax basis in the of.

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