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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15610
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?
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.
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