In general, you must begin receiving minimum distributions by April 1 following the later of (1) the year in which you reach age. 70Â½ or (2) the year in which you retire from service from the employer maintaining the Plan.
Permanent insurance provides lifelong protection, and the ability to accumulate cash value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long as you continue to pay your premiums.
Loading the player... Universal life insurance is type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance), which is invested to provide a cash value buildup.