Life Insurance Retirement Plans For High Income Individuals

Abstract

This paper examines the advantages and disadvantages of using life insurance retirement plans for high net worth individuals.  Though the advent of financial economics and simulations like Monte Carlo have introduced empirical data to financial planning, most advances are invented, developed, and later copied from the practices of leading advisors.  These advisors come from several different areas of focus using their expertise to solve the financial problems of their clients.  With methodologies coming from estate/tax attorneys, CPAs, risk management specialists, registered representatives/advisors, and CFPs the path to personal and intergenerational prosperity is not a clear one. As a result, financial planning has developed as more of an art form than a science.  The intent of this paper is to bring a controversial, but in certain cases effective, financial instrument to the discussion of financial planning.