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Did you know? Under IRS Code 7702, money you pull from your life insurance policy isnt consi #shorts
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Truevir Financial on Instagram: "👀 “Is 7702 even legal?” Short answer: Yes. Long answer: It’s literally written into the IRS Tax Code. 🏦💼 Let’s clear this up. 💡 The 7702 Plan isn’t some secret hack or shady loophole. It’s a section of the Internal Revenue Code that defines how life insurance cash value is taxed (or not taxed). ⚖️ Here’s what 📜 IRS Section 7702 actually says (in simple terms): If a life insurance policy meets certain guidelines — ✅ Your growth inside it can grow tax-deferred
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Salt & Light Financial on Instagram: "Tax Code 7702 is one of the most misunderstood opportunities in the entire financial world. It allows you to put money into a protected account that grows tax-free and gives you tax-free access to it for life. No penalties. No taxes on growth. No required withdrawals. It is unlike any retirement vehicle we use today. In fact, it’s older than all of them. The structure comes from mutual companies that trace back to ancient inheritance systems — used for centu
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