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.
Permanent life insurance is an ideal coverage option for the following scenarios: 1  You donât want to outlive your policy. 2  You donât want to have to convert to a permanent policy when your term runs out.  You want your premium to stay the same for the rest of your life.