Insurance-based retirement plans
Insurance-based retirement plans (IBRP) may be able to protect your family’s future through a death benefit while you save for retirement with the same product.
As your personal situations change (i.e., marriage, birth of a child or job promotion), so do your life insurance needs. Care should be taken to ensure your strategies and products are suitable for your long-term life insurance needs. Weigh your objectives, time horizon and risk tolerance as well as any associated costs before investing.
Also, be aware that market volatility can lead to the possibility of the need for additional premium in your policy.
Life insurance fees and charges associated with plans include costs of insurance that vary with such characteristics of the insured as sex, health and age, underlying fund charges and expenses, and additional charges for riders that customize a policy to fit your individual needs.