Sometimes people decide they no longer need the life insurance coverage they bought years ago. Did you know – your IRA can purchase their life insurance policy and pay the future premiums. When your IRA buys the policy, your IRA also becomes the policy’s beneficiary. When the insured dies, your IRA receives the proceeds of the insurance payout.
Things to Know Before Investing
- All expenses associated with the investment must be paid using the funds in your IRA account, and all revenue must go back to the IRA account.
- The investment is made by the IRA – not you.
- It is a good idea to invest in multiple “lives.”
- The purchase should not constitute a prohibited transaction.
An IRA Club Self Directed IRA may make almost any investment for your future.IRA Club provides our members with a no-cost review to help you avoid making one of the few prohibited transactions. Contact IRA Club today or check out our unique investing process. Be advised that IRA Club does not evaluate, review, monitor, recommend, warrant, guarantee, or otherwise endorse the legality, tax treatment, propriety, performance, or reliability of any investment, service, statement, opinion, or other representation provided with respect to the investment opportunities listed on its site or their sponsors or providers. IRA Club has no financial arrangement, partnership, joint venture, or other affiliation with the sponsors or providers of these investments. IRA Club shall not be liable for any misinformation, misrepresentation, negligence, act, omission, investment results, or any wrongdoing with respect to any of these investments or their sponsors or providers.
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