How to Fund Retirement with Insurance
While the idea of living off a huge policy you purchased long ago sounds tempting the truth is it’s a horrible decision. Life Insurance, Especially permanent life insurance that have cash value do provide withdrawal options and emergency fund options but remember the reason you bought the policy. For those ungrateful dependents called “Kids”. Sure you love them but every time they do something that annoys you, your first thought is that huge pile of tax free money they are going to receive upon your demise. Funny I know, but realistically people cash policies in often for many reasons and the longer you live the more you change your mind about what your just giving away. So yea you can cash a policy out, live on the money a while; its your money. You’ll be taxed, charged interest, and lose any real benefits you had with the policy but the money is there.