Life Insurance Retirement Plan
GPTKB entity
Statements (25)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
retirement savings strategy
|
| gptkbp:abbreviation |
gptkb:LIRP
|
| gptkbp:alternativeTo |
gptkb:IRA
gptkb:401(k) |
| gptkbp:benefit |
tax-free withdrawals (if structured properly)
death benefit for beneficiaries tax-deferred cash value growth |
| gptkbp:criticizedFor |
complexity
higher fees than traditional retirement accounts |
| gptkbp:feature |
loan provisions
flexible premium payments no contribution limits (unlike IRAs/401(k)s) |
| https://www.w3.org/2000/01/rdf-schema#label |
Life Insurance Retirement Plan
|
| gptkbp:purpose |
tax-advantaged retirement income
|
| gptkbp:regulates |
state insurance departments
|
| gptkbp:relatedTo |
universal life insurance
whole life insurance cash value life insurance |
| gptkbp:requires |
underwriting approval
|
| gptkbp:riskFactor |
policy lapse if underfunded
potential tax consequences if not structured properly |
| gptkbp:targetAudience |
high-income individuals
|
| gptkbp:uses |
permanent life insurance policy
|
| gptkbp:bfsParent |
gptkb:LIRP
|
| gptkbp:bfsLayer |
6
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