The transposition of the IORP II Directive therefore implies a modification of the LIRP
. The law of 2 August 2002 on the supervision of the financial sector and financial services must also be amended.
I would make the case that you should likewise have a laundry list of things you're looking for in the right LIRP. After all, all LIRPs are not created equal.
In my book, I also argue that finding a LIRP with the right loan provision should be at the very top of your laundry list of qualities.
Taking a tax-free distribution from your LIRP might work in the following way.
In short, if you plan on taking money out of your LIRP by way of a tax-free loan, it's imperative that you understand the legalese that describes your loan provision before signing on the dotted line.
It is a reflex installed by years of subway, LIRP
. or expressway commuting.
An example would be not pitching IUL as a LIRP
when you are talking to financial advisors' clients.
More and more Americans are doing so by employing a financial tool known as a Life Insurance Retirement Plan (LIRP).
First, what is a LIRP? A LIRP is a tax-free bucket of money that gets treated under its very own section of the IRS tax code (7702).
What's more, it may be easier to qualify for the LIRP than traditional long-term care insurance.
In conclusion, the LIRP can be an effective, angst-free way to accomplish many of your clients' most pressing retirement objectives.
They are about WIFM ('what's in it for me') -- that could be LIRP
, expediency, ease of process, ROP Riders, etc." -- Nic West.