Project Description

LIRP at Age 1

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You’re never “too young” to start building wealth

While most people don’t consider purchasing life insurance for young children, they do have other financial concerns, like building up a fund for future college education costs, and setting something aside for savings.

A LIRP can help to accomplish all that – and more!

In fact, by securing a LIRP when your child or grandchild is just starting out in the world, you can ensure their financial security for life – even long after you stop paying the premiums.

As an example, John and Debbie purchased a life insurance retirement plan for their grandson Joey when he was one year old – and their premium payment of just $1,200 per year for 20 years produced some impressive results.

In this case, Joey was able to access more than $133,241 in annual tax-free income starting at age 60, which provided him with nearly $3.5 million in total distribution from the policy over the next 30 years.

Joey was also able to “lock in” his insurance protection for life – even if he were to face an adverse health issue down the road – because permanent coverage is just exactly that…permanent.

His initial death benefit of $158,861 grew over time, and age 90, the coverage of more than $1.8 million was more than ten times its original amount. This, in turn, helped Joey to ensure that his loved ones would also have financial security in the future.

$1,200

Annually paid for 20 years

$24,000

total premiums paid

$133,241

Annualized tax free income

$3,464,269

total distributions from ages 60 to 90

$158,861

Initial death benefit

$1,847,842

death benefit @ age 90

0%
FREE

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