Policyholders can withdraw their basis from a cash value life insurance policy without paying tax, and subsequently use policy loans, which are not reportable as income, to achieve a de facto tax-free distribution.

Authors

• Person: Not available Organization: U.S. Bank
  Why is insurance important in financial planning? | U.S. Bank

Sources

• Why is insurance important in financial planning? | U.S. Bank www.usbank.com U.S. Bank via serper

Referenced by nodes (1)

• cash value life insurance concept