Are There Tax-Free Savings In Life Insurance

There are three secret tax loopholes involving certain financial products, specifically life insurance, that the IRS won't tell you, but I will!

1. Section 72E: This states that you can actually get tax-free compound interest in certain financial products.
2. Section 7702: This section states that when you access the money in certain financial products, it will be tax-free when you touch it.
3. Section 101A: According to this section, when you pass away, your beneficiary can receive the funds of these contracts completely tax-free.

The financial products to which these tax regulations apply happen to be life insurance.

If you're ready to set up a life insurance compound interest account that gives you these tax benefits, DM me and I'm happy to help.

Here's my caveat to the whole message: Just because something is tax-advantaged or tax-free in some natures doesn't make it amazing. There are a lot of life insurance options out there that, if not structured properly, can be a disaster. However, overall, I thought it was a very creative video to lay out the tax benefits of life insurance.