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Life Insurance Retirement Plan

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Understanding Life Insurance Retirement Plans

with Secure Retirement Strategies

When it comes to planning for your retirement, security means everything. Whether you are looking to secure a reliable stream of income during your retirement or to provide for your loved ones after you’re gone, Secure Retirement Strategies can plan for a brighter future. Our team of expert financial professionals is passionate about helping individuals and families achieve their retirement goals.

Our company currently offers strategic financial planning services to residents living in and around the following Pennsylvania and New Jersey counties:

  • Chester County, PA
  • Lehigh County, PA
  • Northampton County, PA
  • Bucks County, PA
  • Mercer County, NJ
  • Hunterdon County, NJ

What is a LIRP and Why You Should Own One?

A Life Insurance Retirement Plan (LIRP) is a very powerful, yet pretty basic, financial planning tool that has been used in the financial planning industry for decades. Unlike traditional life insurance plans, a LIRP is a life insurance plan that features a savings component that allows you to withdraw funds while you’re still alive. A LIRP can be used to:

  • Create a self-completing retirement plan.
  • Provide supplemental tax-free retirement income.
  • Avoid the threat of higher income taxes in the future.
  • Address estate tax issues at death and paying off debts.
  • Guarantee what you want to happen financially in life will happen whether you are here or not.
  • Provide access to funds that may be earmarked for retirement purposes.
  • Pay for college without being disqualified from financial aid.
  • Address your long-term care need

How Taxes Affect LIRPs

If you are like most people that are saving for the future, you have accumulated a good portion of your wealth in two of the three investment buckets. These are the taxable and tax-deferred buckets. While many investors are aware of how important it is to invest funds in these buckets, they do not account for the impact that higher taxes will have on diminishing all of the wealth you have gained. It is important to include the third bucket, the tax-free investment, in your plan.

In the United States, things such as federal government spending on social welfare programs,  our national debt, and the large numbers of baby boomers exiting the workforce, are set to cause our tax rates are to skyrocket. To combat these issues, many Americans are in fact turning to tax-free accumulation and distribution tools like a Life Insurance Retirement Plan as a way of avoiding the impact of raising taxes.

LIRPs Vs. Roth IRAs

Let’s take a 30,000-foot view of what a Life Insurance Retirement Plan is. A Life Insurance Retirement Plan is an accumulation and distribution tool that shares many of the tax-free attributes as a Roth IRA but without many of the restrictions. When you design a LIRP properly, it gives you many desirable features of which include no income limitations. Remember the IRS imposes income limitations on who can put money in a Roth IRA, but a LIRP has no contribution limits. Furthermore, with the LIRP, you will not get any 1099’s issued, so your money gets to grow tax-free.

How the Stock Market Affects LIRPs

Typically with the LIRP, when the index is positive, you participate up to about 12.5%. When the index is negative, you get zero. You do not give back or lose any money. The LIRP has an average return of between 7% and 9% per year.

Furthermore, you can typically use 95% of the death benefit for long-term care or chronic illness. Every year at the policy’s anniversary date, you can change indexes if you’d like. If you ever need to skip premiums, you can do so, and the LIRP comes with a lapse guarantee rider so you cannot lapse the coverage.

Why Chose a LIRP?

We like to tell people a Life Insurance Retirement Plan is a Roth IRA plus more. Typically, we like to put the money in a LIRP over a five year period instead of all at once. This ensures that we don’t buy too much death benefit or move you into a higher tax bracket.

In our professional opinion, the LIRP is a excellent financial tool to have in your financial planning strategy. It provides tax-free income, a death benefit for legacy, long-term care coverage, no 1099’s and does not hit your tax return —it’s definitely a win-win for those who chose to invest.

Let’s plan your financial future.
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Ready to Start Planning?

Let us help you plan for a prosperous financial future! Contact us today to learn more about Life Insurance Retirement Plans and our retirement strategies such as:

All of our professional retirement investment strategies are available to residents living in the following counties and their surrounding areas:

  • Chester County, PA
  • Lehigh County, PA
  • Bucks County, PA
  • Northampton County, PA
  • Mercer County, NJ
  • Hunterdon County, NJ

Contact our company today to learn more about Life Insurance Retirement Plans!

Michael Neft, our agent, and the entire team at Secure Retirement Strategies have been so wonderful to work with. We have peace of mind about our financial future. We would recommend Secure Retirement Strategies to friends and family. They are always available to answer any questions we may have.
Rita B.
Mike Neft and his staff were very professional and personal. We met with Mike to review our existing investments. As retirement approaches we wanted assurance that we would not exhaust our funds prior to our demise. Mike did a thorough review and suggested some changes that would provide us with guaranteed income sources.
Richard W.
The thought of making all the decisions involved with moving a lifetime of savings into the right places to secure one’s retirement years can be frightening. It was for my wife and me until our first meeting with Marc and Lou. Options were clearly explained. Questions were plainly answered. Most importantly, time was taken to build trust. We are glad that we found SRS!
Jen L.
Lou and Marc listen attentively to what we want, striving to find the best products for our financial goals and needs. They are very patient, taking the time to answer all our questions and making sure we understand the products we are purchasing. Their friendly, no-pressure personalities, paired with a vast knowledge of retirement options provides a strong feeling of confidence in their ability to assist us in meeting our retirement goals. It is a real pleasure working with the Secure Retirement Strategies team.
Kathy R.
Mike, Marc, Merrick, Lou and Christian were very patient with my wife and me in explaining a secure retirement strategy and how to better position our finances to align with our goals. We met with several of them for a few times initially, and they patiently explained the strategies we could use for saving on taxes and getting better yields from our investments. We did not feel rushed or pushed into anything we weren’t comfortable with, and I highly recommend SRS to anyone that wants a better financial future.
Tony D.
SRS is composed of a group of knowledgeable and professional advisors. There is NO sales pressure or use of other tactics in your meetings with them. Instead, expect patient and thorough listening followed by thoughtful suggestions and packages designed to meet your individual needs. They continue to check in with you throughout any process and answer all questions patiently, thoroughly and promptly. I would recommend them highly and without hesitation!
Sharon C.
All of my encounters with this group of professionals have been exceptional. They have made appropriate investment recommendations, which we have been very pleased with the results of thus far.
Ron G.
Merrick and his team have surpassed my expectations. They truly listen to their clients’ needs. I really appreciated the time they took to walk me through the many options.
Muzaffer G.
Appreciated the service and continual contact in the application process. Both Lou and Tom were very knowledgeable and not only explained everything to my satisfaction, but also made sure that I understand the policy and process. Seeing the excellent tax benefits of this policy was an eye-opener. I am very pleased with the product, policy and service and would highly recommend the use of the products and/or employees associated with Secure Retirement Strategies.
Micheal S.
I had a good experience with all the gentlemen at Secure Retirement Strategies, from the excellent dinner and presentation to the delivery of my contract. They were very patient and never pressured me to do anything and were all very knowledgeable. I put my confidence in them in making my decisions. I am glad I met them and hope to have a long relationship.
Thomas W.
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