The three steps that make up an Insured Retirement Strategy
1. Maximize the policy’s cash value
Clients overfund their Universal Life (UL) policy up to the maximum allowable limit
These funds will grow on a tax-deferred basis
2. Supplement retirement income
At the time of retirement, clients supplement their retirement income by borrowing money from their bank using the cash value of their universal life policy as collateral. (This is called collateral lending.)
3. Defer repayment of the loan
The loan, and all accumulated interest and fees, is repaid by the estate, after the client’s death, by using the proceeds of the UL policy’s death benefit.
Your Advisor Guide for ivari's Insured Retirement Strategy
This Guide will help you:
Present an Insured Retirement Strategy to your clients
Get the full view using LifeView when preparing an illustration for your clients
Understand the risks of an Insured Retirement Strategy
A client’s guide to the Insured Retirement Strategy
For clients who are interested in learning more about this Strategy, you can send them the client-friendly version of the Insured Retirement Strategy. This guide details the benefits of the Strategy in plain language that clients can easily understand.
The Insured Retirement Strategy is available on the LifeView illustration software
You’ll find the Insured Retirement Strategy illustration in LifeView under the Individual Sales Concepts menu. LifeView can help you illustrate to your client the value of an Insured Retirement Strategy using a universal life policy versus alternative investment strategies.
Critical illness rider for Insured Retirement Strategy in LifeView
In April 2018, the Insured Retirement Strategy will be updated in LifeView to allow the Critical illness insurance rider from ivari to be illustrated.