Sit on the last episode what kind of limitations I have over here on the right through it as much as Ronald Reagan change the law but back in 1983 for what he felt was fair that she felt that people were wealthy people just sticking their money in life insurance and pay no taxes they said I think you have to buy some life insurance and he put some rules and the fact that we have to follow today so we have to have basically even if we're trying to play Down the life insurance we have to purchase a certain amount of life insurance for a certain. Of time therefore it's helpful if people in fact have need for the life insurance so that we can have that currently 5% and that's awesome so we can have a million-dollar policy with 950000 in it the reason most people drop their policies light just went off because they don't have to pay it because 50000 and 950000 also at risk so we might be a couple thousand dollars for the insurance and make 67 to $80,000 inside that continue to go up higher figure that continues to earn interest it is so long can be a beneficial thing just as your house goes up in value forward from it or not so does your life insurance so things to consider in the first one to be able to fund this is this correct for you and that's what we have to be careful who we recommend this to okay so angry and and and and we want to take the people that are healthy because the cops are going to be listed in the cases where we can in fact we had a case in the last couple weeks converting 700000 of Ira over a period of time he had prostate cancer 5 years ago she had a stroke six years ago just at the time he was about to be in trouble and heart attack they have three adult children and we are putting Insurance on 3 adult children controlling their own children
parents controlling their own children 5 years ago she had a stroke six years ago just at the time he was about to be in shortly had a heart attack while they have three adult children and we are putting Insurance on 3 healthy adult children the parents who own the policies will control the cash values but either can access that money during their own lifetime forward this policy will eventually pass to these children and generate substantial 5060 $70,000 tax free income for them in retirement so it benefits everybody across the board because in fact we had parents who were we couldn't shirt we've tried our best to convert qualified plans to nonprofit status for their life insurance Roth IRA whatever we're doing we try to do that sometimes I have to use life insurance to bridge between the time of 60 to my clients if you trying to 4 stall so they can match my Social Security also I'm using my life insurance in this area for about eight years getting that free funding and maybe even reverse word if I need a little bit more to get me to 70 so I can first all my qualified plan money or I covered everything I can get but let's just say we just can't get it off so there's going to be some out there in the future when you look at life insurance industry looking at it as an income we talked about this earlier segment there are so many choices here it is like one kind you could be interested based it could be index based it could be equity and your mom like the marketplace so there's a lot of choices here depending on your risk tolerance so I'm going to look at this and I want to start this is your Maine State retirement life insurance because they've never thought of it as most Americans do probably couldn't see for the benefits happened during your lifetime and that to me is true life insurance policies which is the ability to find out what the car in the
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