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Life Insurance Retirement Plan (LIRP)
There are plenty of financial tools to consider as you begin to plan for retirement. You’ll want to prepare for changes in your health insurance coverage, streamline your budget to account for a fixed income, and save to help provide for your financial goals. But there’s still one tool you may not have considered as a key part of retirement planning: life insurance retirement plan (LIRP).In addition to IRAs, 401(k) plans, and pensions, did you know that permanent life insurance, universal life insurance, and whole life insurance can often be useful components of an estate planning strategy? If you’re a high-net-worth individual, you should be aware of how a life insurance retirement plan (LIRP) can factor into your future financial planning strategy.