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.
1 Whole life offers guaranteed life insurance protection that will never expire, as long as your payments remain current.  Permanent life insurance allows you to build cash value, which is the portion of money you can use during your life for things like mortgage payments, education, and loans.