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Investing/Strategies / Retirement Investing
|Subject: Re: Strategy comparison S&P500 vs. IUL [rev 1]||Date: 4/7/2013 2:40 AM|
|Author: gdett2||Number: 71759 of 76418|
When I die, what happens to the "balance?"
It goes to your beneficiaries--tax-free.
But that wasn't the whole question.
What happens with the "loans" and the compounded interest you owe yourself against the supposed balance in the account?
How much is the amount paid reduced from the actual account balance? It was stated the distributions are loans. A 6% interest rate was mentioned and that the loans did not affect the account balance.
They do not give you that money for free. How is the debt repayment handled?
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