Who's retirement are you planning yours or Uncle Sam's?
But you must leave a significant percentage of the cash in the account absent triggering the death benefit or you get hit with even more taxes than what you paid over time.
Not saying such a plan is not of value, I have one as part of my retirement planning, but I have looked at where I want it as part of the funds I am currently directing toward retirement planning (and in this case life insurance). It is expensive ass life insurance, but some of the tax related aspects make it prudent decision for a (small) portion of my retirement portfolio.
Be cautioned - it does have it's downfalls, particularly if you want to utilize the money before you die...
But you must leave a significant percentage of the cash in the account absent triggering the death benefit or you get hit with even more taxes than what you paid over time.
I wanted to clarify that this was my statement not nufsed's. It was a an html editing error on my part, and wanted to make sure it that statement was not inappropriately accredited to nufsed.
With apologies.
IULs are completely liquid. You can use it as your own bank to avoid non-preferred debt.