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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 14870
Experience:  15years with H & R Block. Divisional leader, Instructor
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Can an ILIT be funded with an annuity rather than life insurance

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Can an ILIT be funded with an annuity rather than life insurance for the uninsurable?
HelloCustomer
In some cases, it is appropriate to contribute or sell to the ILIT income producing property, and then the income from that property can pay the insurance premiums.
An ILIT is a type of irrevocable trust that is specifically designed to hold and own life insurance policies. Once the ILIT has been set up, you will transfer ownership of your life insurance policies to the Trustee of the ILIT.
XXXXX XXXXXcock has a brochure explaining all in an easy to read format.
Here is a link to their info:

http://jh1.jhlifeinsurance.com/vgn/images/portal/cit_2074342/5433175Journal_SplitDollar.pdf

I sincerely XXXXX XXXXX the above information is helpful,
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