Can An IRA Hold 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
    An IRA is a qualified defined contribution plan under ERISA and permits many investment and savings products as funding vehicles. But life insurance is not one of them. Surprisingly,other qualified plans allow limited use of participating whole life insurance and universal life insurance as part of the annual contributions.
    Answered on July 27, 2013
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