Summerlin Benefits Consulting Q&AAnswer
Nov 22, 2024 - 02:26 PM
Fixed Indexed Universal Life (FIUL) policies can help reduce tax obligations during retirement by offering tax-free growth and withdrawals. The policy's cash value grows over time, protected from market downturns, and can be accessed tax-free for retirement income or long-term care expenses. By using an FIUL to supplement retirement income, retirees can avoid depleting taxable accounts like IRAs, thus preventing tax bracket increases. The death benefit is also paid out tax-free, providing additional financial security without increasing the tax burden.
