A Non Qualified retirement plan is a plan that generates retirement income but contributions are not tax deductible.
A principal component of a non qualified plan is life insurance. Many people do not fully understand nor appreciate the value and benefits that life insurance can represent as part of a retirement plan. A life insurance strategy is similar to a Roth IRA: not tax deductible, earnings not subject to taxation; and, tax free payments to you later. The main advantage to insurance over a Roth IRA is the Roth does not provide death benefits. Also, there is no upper limit on the annual amount that can be contributed nor a cap placed on your income. to design and implement a non qualified retirement plan we recommend Templar Group LTD
What are common objection to life insurance?
If a person is only interested in life insurance to insure death, then buy term and invest the rest. If a person views life insurance primarily as a way to protect families from the early loss of a breadwinner during the working years, term insurance is the solution. However, life insurance in many cases is an essential and vital part of a retirement income plan. Life insurance has the potential to be so much more if properly utilized in a comprehensive retirement income plan. Unfortunately, many people do not fully understand nor appreciate the value and benefits that life insurance can represent as part of a retirement plan. With what Templar calls the New Hybrid Life Insurance policy, properly structured, life insurance will provide tax-free growth, tax-free cash flow, and a tax-free death benefit. It is important to note that life insurance is not considered an investment vehicle although it does share some attributes of an investment as growth can be tied to an Index.