Is taking up life insurance a viable option after retirement?

What is an indexed universal life policy (IUL)?

Retirees and pre-retirees can increase their portfolio without facing the risk of loss in their retirement. Indexed universal life insurance policies are developed to maximize on the tax benefit under section 7702. This permanent insurance policy will help provide a permanent tax-advantages source of income to help sustain retirees without financial security. The policy also provides other benefits such as coverage against terminal illness long term care, disability coverage and a tax advantage in the event of any estate planning or wealth transfer.

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