gcgang
Thinks s/he gets paid by the post
- Joined
- Sep 16, 2012
- Messages
- 1,573
An agent is pitching me on using a 2nd to Die Variable Universal Life Insurance Policy within an Irrevocable Life Insuance Trust to leverage annual gifts to our daughter, avoiding Income and Estate Tax on the Death Benefit. We’d get about $1.6mm DB for $30k premiums at ages 67 & 64 w standard rating.
Agent says the Prudential Policy has guaranteed DB even if performance sucks, as long as level premiums are paid, pointing out survivor may have to use part of Unified Credit for gifts over individual annual exclusion.
As I haven’t reviewed my Estate Plan with our attorney for about 8 years, I was considering using the ILIT as motivation to review our documents.
Thoughts?
Agent says the Prudential Policy has guaranteed DB even if performance sucks, as long as level premiums are paid, pointing out survivor may have to use part of Unified Credit for gifts over individual annual exclusion.
As I haven’t reviewed my Estate Plan with our attorney for about 8 years, I was considering using the ILIT as motivation to review our documents.
Thoughts?
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