When planning for retirement, financial decisions must balance security, growth, and tax savings. The Life Insurance Retirement Plan (LIRP) is a lesser-known yet powerful tool for retirement planning.
In contrast to traditional retirement accounts such as 401(k)s and IRAs, LIRPs use the cash value from permanent life insurance policies to provide tax-advantaged income. This article examines LIRPs, their benefits, and why they may be valuable to your retirement plan.