Life policies as retirement income gain interest

05/13/2013 | InvestmentNews (free registration)

Cash-value life insurance policies are attracting consumers interested in the product's tax-deferred income potential, experts say. Advisers suggest that many clients who purchased whole or universal policies for their death benefits might choose to repurpose them for retirement income if their beneficiaries no longer require the proceeds. But Michael Kitces of Pinnacle Advisory Group warns that such policies will result in "a giant tax bill" if lapsed, and might be better held for the death benefit.

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