Is this guy a LIRP candidate?
Have a prospect who is a physician and initially told me he wants an investment he can put a lot of money into and not reap the benefits for 20 years or so.....primarily for tax purposes. He also doesn't want to be limited on the access he has to his money in retirement either.
To me, he seems like the perfect candidate for a LIRP, but he says he "has a distaste for life insurance". If I could just get him in front of a vendor, he would easily see that this is basically life insurance turned upside down. He's being stubborn though. Any ideas?
What's a LIRP ??
Life Insurance Retirement Plan, aka "rich man's roth". Check it out.
LIRP is great for marketing...but over the years, the insurance charges are going to eat up the cash value. But yea, in theory, everything looks great on paper... until insurance companies decide to up their charges to near "maximium charges"
LIRP is best technique when we retired from job or unemployed. But it mainly depends upon the people what things they consider for start this policy. like as high interest rate or tax rebate. But now days i think so insurance is not great way of investment.