Posted In: Insurance
Last time we looked at some of the base tenets surrounding life insurance and the austere outlook of the IRS when it comes to premiums, loans, and withdrawals.
More specifically, there are some significant traps that can snare you when utilizing life insurance. Here we’ll look at three and their potential solutions.
1See IRC § 101(j) for exceptions. See IRS Notice 2009-48 for details on what constitutes a “material change.”
As always, these issues require careful planning and consideration. Consult with your tax and financial planner for further assistance.
Ambassador Advisors is a Registered Investment Advisor. Securities offered through American Portfolios Financial Services, Inc. of Holbrook, NY, 631-439-4600 (APFS), member FINRA, SIPC. Investment Advisory Services offered through Ambassador Advisors, LLC. Ambassador Advisors is not owned or operated by APFS. To determine which college saving option is right for you, please consult your tax and accounting advisors. Neither APFS nor its affiliates or financial professionals provide tax, legal or accounting advice. Please carefully consider investment objectives, risks, charges, and expenses before investing. For this and other information about municipal fund securities, please obtain an offering statement and read it carefully before you invest. Investments in 529 college savings plans are neither FDIC insured nor guaranteed and may lose value.
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This material is for informational purposes only. Neither APFS nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
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