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LIRPs take perfect case design to make sure you maximize the cash value. That is where we come in. No one designs LIRP cases better than us.

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You can trust our advisors to help you find, plan, and design the best LIRP policy possible.

You can complete our quick LIRP questionnaire in about 60 seconds. It will help us design the perfect LIRP for you.

When comparing LIRP companies, you need an expert who knows the carrier products inside and out. We know exactly who the best carrier is.

With a LIRP, you are going to have questions.  We can answer all your questions and walk you through the quoting and buying process.


What is a LIRP?

A life insurance retirement plan commonly referred to as a LIRP, it’s a type of permanent life insurance policy that builds cash value – some call it an overfunded life insurance policy or 7702 plan, TFRA, and others compare it to infinite banking plans.

Unlike most other permanent life insurance policies, though, that are purchased for their death benefit protection, a LIRP is used more for its cash value and retirement income potential. The cash value can be accessed tax-free to supplement your retirement income.

Two types of permanent life insurance policies are used for creating a LIRP. These are:

  • Whole Life Insurance
  • Universal Life Insurance

While whole-life policies can provide a viable framework for a LIRP, universal life insurance can typically offer the best LIRP platform. Precisely an index universal life insurance policy. One reason is that universal life policies are more flexible than whole life insurance. However, if you need immediate cash value, then whole life insurance with a specific HECV rider will be best. Ask us about the differences.

How does a LIRP Work?

Depending on your life insurance policy for a LIRP, you could rack up many benefits and tax-related advantages. These can include generating a market-linked return on the policy’s cash value without any downside market risk. We had individual rate locking 20%+ gains on their cash value in the 2021 calendar year, and they lost nothing in the bear market of 2022.

For instance, with an indexed universal life (or IUL) insurance policy, the return on the cash value is based in large part on the performance of an underlying market index, such as the S&P 500 or the Dow Jones Industrial Average (DJIA).

When the index performs well in policy contract years, a positive return is added to the cash value, typically up to a set maximum, or “cap.” But in return for this somewhat limited growth, when the index performs poorly in contract years, the cash value will not lose money. Instead, has a guaranteed minimum, or “floor,” frequently in the range of 0% to 1%.

So, not only is your principal protected from market downside risk with an IUL policy, but you can also continue to build upon previous gains without first having to make up for any prior losses in the account.

Now, that’s a win-win situation!

LIRP Pros and Cons

Although LIRPs can offer a source of tax-free retirement income, there are some potential drawbacks to consider as well, depending on your goals for the policy.

The downside of a Life Insurance Retirement Plan

One downside of life insurance retirement plans is that because it’s a life insurance contract, you have to qualify for this type of retirement strategy medically. Because this is life insurance coverage, there is underwriting from the insurance company. If you have any major health issues or terminal illnesses, a LIRP strategy will not work for you.

Tax free build-up of the cash valueHigher premium than term life insurance
Tax free retirement incomePossible slower growth compared to equities
No annual funding limitsIt may require ongoing contributions
Death benefit for survivorsHave a surrender charge in the early years
Penalty-free access for long-term care needsContributions are not tax deductible

Best LIRP Insurance Companies

Many insurers offer LIRPs. However, one company stands out above the rest regarding the best LIRP insurance company.

Allianz is the best IUL insurance company, and it’s not even close. Here’s why they are the King of IULs.

  • Index Rate Lock
  • 40% interest bonus option with only a 1% asset charge
  • 15% interest bonus option with no asset charge
  • Highest Participation Rates
  • Multiple Uncapped Index Options

Rate lock is the most potent cash-value life insurance feature ever created, and no one offers it in the life insurance industry but Allianz. They also provide some of the best contractually guaranteed loan rates during the withdrawal phase of a LIRP.

Also, no carrier has maintained its caps, participation rates, and bonuses like Allianz.

Is LIRP a good investment?

A LIRP offers the ability to build accumulation value tax-deferred without losses due to market volatility. The accumulation value can give you a stream of tax-free income in your retirement years. Plus, it’s the only plan to help maximize the assets you pass on to the next generation (yeah, that legacy money).

A LIRP provides:

  • Tax-Free Growth – LIRPs can help retirees avoid taxes on annual gains in the policy.
  • Tax-Free IncomeLIRP allows you to grow the cash account tax-deferred AND access the money tax-free.
  • Tax-Free Wealth TransferBecause a LIRP is a life insurance policy, it offers tax-advantaged wealth transfer options, too.
  • Avoid Market Risks – LIRPs can allow you to participate in an upmarket and never lose anything in a down market.
  • Liquidity – LIRPs do not have a penalty for withdraws before age 59 1⁄2, like an IRA or 401k account holder.

Setting Up a LIRP Account

If you want a LIRP, you need to start with an illustration.

We can illustrate this for you by completing our quick quote form at the top of this page.

Turnaround time is typically 24 hours from when you complete the form unless you complete it on the weekend. It would be the following Monday.

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