Talk about survival of the fittest. Life insurance has survived many tax code changes with very little modifications – a few changes here and there of course, but even still, life insurance remains one of the most powerful tools to help avoid (not evade) taxes.
The death benefit passes tax free (in most cases), the cash value grows tax deferred, and you can access the money by loan provisions without tax implications.
Today, Todd and I discuss some comparisons between IRA accounts, especially the RMD (required minimum distributions) provision, and how life insurance can help you plan your finances. Enjoy the show.