LIRP = Life Insurance Retirement Plan

I believe it is essentially overfunding a cash value life insurance policy to be able to generate an income stream that is not taxed during retirement.  A fairly common technique.  Nothing that EDJ invented.  The problem lies in the event that the contract doesn't perform to the illustration hypotheticals for reasons of interest rates or if variable life sub account/market performance.  It may mean that the contract could collapse and generate a taxable event or the client may have to kick in more cash to keep it alive.   It isn't a bad technique for people who have maxed out their qualified plans, are insurable, can use the extra insurance and have enough time to build up the substantial cash values needed. 

You should contact some of your insurance wholesalers and have them run some illustrations for you.

Another thought that struck me as I was hitting the enter key.  Is the Jones proposal also for a buy sell funding agreement?  Life insurance is often used for that purpose.  Not too sure if they would want to use an overfunded contract for buy sell purposes

[quote=BankFC]

I had a guy come into my office today...he and his partner make a ton of money, own a construction company, and have been talking to some EDJ guy about a LIRP.

For all you ex-EDJ guys out there, could you help a guy out and let me know what exactly this is...so I can get this business.

All help is appreciated.

[/quote]

BankFC,

Get some training, call one of your Life Insurance WhoreSalers, they can teach you to sell the stuff, it's not complicated at all........

If a Jones IR newbie can do it, so can you..................