Life Insurance for Life and Beyond Ed Slott， CPA
Bridge Sky-3156 06/23 8154
4.0/2
天使🎯保险&理财
独立的全牌理财服务代理，专业化团队为社区提供各种个人、公司理财方面的：
1）知识
2）策略
3）解决方案 具体包括：
●储蓄、投资、退休金计划：IRA, Roth IRA, SEP IRA, 401(k), 403(b), 529 College Saving Plans, 年金, 共同基金...
●College Planning Program
●Whealth Transfer Strategies
●人寿保险：Term Life, UL, VUL, IUL, Final Expense (Whole Life), Long Term Care (长期护理)。
非常乐意凭自己的专业知识和工作热情帮助每一个家庭建立坚实财务基础。
Phone : (347) 688-9832
有一段好的录像和大家分享。
Ed Slott was named “The Best Source for IRA Advice” by The Wall Street Journal
and called "America's IRA Expert" by Mutual Funds Magazine.
Life insurance is not only the single biggest benefit in the tax code, but it is also the most cost effective way to protect a large IRA.
Here are the 5 most common life insurance mistakes: (Again, I am referring only to permanent insurance-with cash value.)
1. Thinking that life insurance is a cost and not looking at it as an investment A bank account is a good example. The more you invest, the more you'll have. Putting money in a bank account is not a cost, it's yours. It's an investment. Think of permanent life insurance the same way. It's an investment.
2. Trying to pay the lowest amount for life insurance Sounds good right? Do you want to pay $1,000 or $10,000? With permanent life insurance, the more you invest, the more you have protected from taxes.
3. Not understanding the benefits For example: Life insurance provides a tax-free payout after death. Judgment Proof Lifetime access to cash value-tax free. It won't cause Social Security to be taxed and you won't lose tax benefits, such as exemptions, deductions and credits. Life insurance can be exempt from estate tax. With life insurance you get a guarantee. This removes stock market risk. The government has restrictions on how much you can invest, but you generally want to put in the maximum you can.
4. Improper Ownership Don't own it in your own name. Why would you? Keep it out of your estate. For estate tax purposes, you should not own your own policy. It should be owned by someone else or a trust. One caveat though: If you don't own the policy (which is good for estate tax purposes), you may only have limited lifetime access to the cash value. The life insurance premiums should be paid by the beneficiaries or by the trustee of an irrevocable life insurance trust so that the life insurance proceeds will be estate tax free.
5. Not knowing it's tax free I don't know if this is a mistake or a misconception. Still, people don't know that life insurance is tax free.
Life Insurance vs. Tax Deferred Plans
If you compare life insurance to tax-deferred plans, life insurance has several advantages: Life insurance provides a tax-free death benefit. Life insurance cash value can be accessed tax and penalty free. With an IRA, withdrawals can be heavily taxed, and you could incur penalties too. With a traditional IRA, you are forced to withdraw and pay taxes after age 70 ½. Life insurance provides an income tax-free death benefit. Estate tax free too, if owned properly. With life insurance there is NO risk of future tax rates increasing. - The Roth IRA provides this benefit too.
But... Here's what you DON'T get with life insurance that you do get with an IRA or 401 (k). You don't get a tax deduction. But a tax deduction these days is a trap because you'll pay much more later!
The bottom line, [微笑]
But... Here's what you DON'T get with life insurance that you do get with an IRA or 401 (k). You don't get a tax deduction. But a tax deduction these days is a trap because you'll pay much more later!
