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ADD MORE LIFE Reduce the Impact of Taxes in Retirement

ADD MORE LIFE Reduce the Impact of Taxes in Retirement

Since most retirement assets generate a tax bill, taxes can undermine any retirement plans clients may have. But for your affluent clients, this issue will be even worse. And with potential changes in the tax code looming now (and almost every year), no one can predict what a client will face when they actually retire. Fortunately, in addition to a typically tax-free death benefit for loved ones, life insurance can also help by providing supplemental income that is usually federal income tax-free.1 It can be a valuable tool for reducing clients' tax bills and taking more control of their taxes in retirement.

The resources below provide you with an actionable approach to discuss with your clients.

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Talking to Clients About a Source of Tax-Free Supplemental Income

Introduce clients to the fact that life insurance can help them reduce their federal income taxes in retirement.
If you have questions, call our Sales Desk at 844-606-7868.

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Gain More Control Over Clients' Income Taxes

Which retirement assets make taxes higher? (Hint: Most of them). See how income from life insurance is different.

How to Talk Life Insurance and Taxes in Retirement

These discussion points will resonate with your clients.

Present the Value of Life Insurance in Retirement

This brochure can easily guide your client conversation on the benefits of life insurance in retirement.

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Help Clients Be Prepared, Not Surprised

When you help clients meet their retirement challenges, remember to consider taxes. When not planned for, taxes can have a negative impact on your clients’ retirement incomes.

Some of the key topics discussed include:

  • How can taxes derail a client's retirement plans?
  • How can life insurance help stretch out savings and reduce taxes in retirement?
  • Who is the ideal client for this tax strategy?
  • Why might this strategy appeal to affluent clients?
  • What are the benefits of using life insurance in retirement?

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Choosing the Right Solution for Each Client

On a risk/reward spectrum, Prulife Essential UL is the most conservative of our products that can accumulate cash value. Moving up the spectrum from left to the right, indicating greater risk, Prulife Founders Plus UL is a bit less conservative, followed by Prulife Index Advantage UL, which falls roughly in the middle of the spectrum. Toward the higher end of the spectrum is VUL Protector and finally, Prulife Custom Premier II, which is the least conservative.

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PruLife Essential ULSM

PruLife® Founders Plus UL

PruLife® Indexed Advantage UL

VUL Protector®

PruLife® Custom Premier II

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Explore More Retirement Challenges

Add More Life to help solve some of these challenges without causing others.

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ILI-LeadGeneration

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Advisors - Life Insurance

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Life Insurance Sales Desk

    Call Us: 844-606-7868

   Email Us: lifesalesdesk@prudential.com

If you’re already appointed with Prudential, visit PruXpress to explore more about how life insurance can help your clients meet their protection needs and plan for retirement.

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Footnote

Prudential Financial and its financial professionals do not give legal or tax advice. Your clients should consult their own advisors.

  • 1Death benefit proceeds are generally federal income tax-free pursuant to IRC §101(a). Supplemental income is accessed through loans and withdrawals which when left unpaid reduce cash values and death benefits. Loans are charged interest; they are usually not taxable. Withdrawals are generally taxable to the extent they exceed basis in the policy. Loans that remain unpaid when the policy lapses or is surrendered while the insured is alive will be taxed immediately to the extent of gain in the policy. For policies that are Modified Endowment Contracts (MECs), distributions (including loans) are taxable to the extent of income in the policy; an additional 10% federal income tax penalty may apply.

Created Exclusively for Financial Professionals. Not for Use with Consumers.

For Compliance Use Only: 1006581-00002-00