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.
3.7.2 Adjustable Life Policies. Adjustable life policies contain a high degree of flexibility by combining term and permanent insurance to allow changes to the policy's face amount, period payments, and term during the policy lifetime. Adjustable life policies are constructed using whole life insurance as the base policy.