what is the premium of retirement plan in life insurance policy
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Pension plans or retirement plans are insurance + investment plans that help an individual create a corpus for their own future, over a period of time (policy term). On maturity (retirement), a third of the accumulated corpus can be withdrawn as a lump sum and the rest in parts in the form of a pension.
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A Life Insurance Retirement Plan (LIRP) is simple in theory. ... You fund the universal or whole life insurance policy and borrow against the accumulating cash value by way of a loan tax-free. There are plenty of benefits to including a LIRP in your retirement planning.
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