Tax-Efficient Retirement

Using life insurance

History tells us that taxes are not going to go away or even stay the same, so now is a great time to talk to your financial advisor about how tax-efficient retirement income strategies can benefit your retirement plans.

Are you concerned you may need more retirement income that your 401(k), IRA and/or other savings can provide?

Learn how permanent life insurance including RiverSource indexed universal life insurance and RiverSource Variable Universal Life 6 can provide protection, retirement income and tax advantages — all in one. To learn more check out the following video and brochure.

Download our Tax-efficient Retirement Income brochure or talk to your financial advisor to learn how this could benefit you.

Accessing policy cash value through loans and surrenders may cause a permanent reduction of policy cash values and death benefit and negate any guarantees against lapse. The amount that can be borrowed or surrendered will be affected by the surrender charges applicable to the policy. Loans may be subject to interest charges. Although loans are generally not taxable, there may be tax consequences if the policy lapses or is surrendered with a loan (even as part of a 1035 exchange). It is possible that the amount of taxable income generated at the lapse or surrender of a policy with a loan may exceed the actual amount of cash received. Surrenders are generally taxable to the extent they exceed basis in the policy. If the policy is a modified endowment contract (MEC), pre-death distributions, including loans, from the policy are taxed on an income-first basis, and there may also be a 10% federal income tax penalty for distributions prior to age 59-½.
Neither RiverSource Life Insurance Company, nor RiverSource Life insurance Co. of New York, nor their affiliates or representatives, offer tax or legal advice. Clients should consult their tax adviser or attorney regarding their specific situation.