5. Greater Control
IRAs and 401(k) are subject to annual required minimum distributions (RMDs) after age 70 ½, whether the money is needed or not (Roth IRAs are exempt from lifetime RMDs). This causes forced distributions and additional taxes, though you might not need or want to withdraw those funds.
These forced withdrawals take control away, while withdrawing from the cash value in a life insurance policy can be done at any time, or not - you have the ultimate control of your retirement savings in a life insurance policy.
In our last blog post of this series, we will discuss the great leverage a life insurance product generates.