Can You Find An IRA With Life Insurance?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   You can not use term or permanent life insurance to fund an IRA. Some qualified plans allow a certain percentage of life insurance in the plan contribution: participating whole life 49.5% and universal life 25%. Using life insurance in a qualified plan like this requires specific conditions like substandard ratings, or excess contribution room for additional funding.

   Answered on September 4, 2013

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