A CFP® (Craig Wear) contrasts Roth conversions with a life-insurance-based strategy that involves withdrawing IRA funds, paying taxes, and placing proceeds into life insurance. He intends to explain how each strategy works, their tax benefits and limitations, and how to decide which is appropriate for an individual.
So most of the marketing messages say, gosh, you don't need to do Roth conversions, you need to do life insurance. Kind of the overview of the concept is they want you to take money from your ira, pay the tax on it as if you were doing a Roth conversion, but then to put the money into a life insurance product. So I want to explain kind of how the strategy works, what the tax benefits would be to do either one of those, what the limitations are, and then how really to determine whether it's the right answer for you or not.
