Project Description

LIRP at Age 25

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An early start can provide tax-free income for life.

At age 25, many people are still finding their way in life. But, even if a definitive career path is still on the horizon, retiring in the future is something that everyone strives for. A life insurance retirement plan can allow you to accomplish that goal – and much more – such as:

  • Additional tax-advantaged savings, even if you’ve “maxed out” the annual contributions to your IRA and/or employer-sponsored retirement plan

  • Ability to access funds for large purchases, like a new home or vehicle, without having to apply through a bank or other lender

  • Tax-free income in retirement

  • Life insurance protection for life, even in the event of being diagnosed with an adverse health condition.

As an example, Jeannie recently graduated from college and was hired as an administrative assistant at an art museum – although her dream was to one day open her own art studio.

Because her job did not provide a retirement savings plan, Jeannie decided to start funding a life insurance retirement plan, because not only would this provide her with income in the future, it also gave her other financial options down the road.

Her annual premium of $6,000 per year over the next 40 years (for a total paid-in premium of $240,000) would provide Jeannie with a number of benefits, including over $155,000 per year in annual tax-free income from age 65 to 90. This equated to more than $4 million in total distributions.

In addition, her initial death benefit of $361,613 grew to more than $2.375 million, so not only was Jeannie about to secure her own financial future with the LIRP, but also that of her children and grandchildren in the future.

$6,000

Annually paid for 40 years

$240,000

total premiums paid

$155,031

Annualized tax free income

$4,033,384

total distributions from ages 65 to 90

$361,613

Initial death benefit

$2,375,848

death benefit @ age 90

0%
FREE

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