As a follow-up to yesterday’s post, here’s an article dated several years ago, from what looks like a fairly reliable source. The author provides a pretty solid-sounding explanation of how life insurance policies are packaged as retirement savings vehicles. Calling it a “7702 plan” makes it sound like a retirement savings program, but it’s really life insurance. Could it be that the people marketing these programs think it will hurt their sales presentation if they disclose that they are really selling life insurance?
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