• ASSP

Board Meetings

  • 2nd Fridays (must login to see details)

Monthly Meetings

  • Usually 3rd Thursdays

Member Events

  • See weekly eBlast for member invitations


  • 17 Jan 2019
  • 8:30 AM - 10:15 AM
  • NIU Conference Center, Room 105, 1120 E Diehl Rd Naperville IL 60563







Jay Sweeney—(is an Agent's Agent - Mary Gruenberg's resource) will educate you on the topic of: 

What is a LIRP and why should you resolve to get one? 


Kourtnie Huddleston, MBA | Community Liaison

Oak Trace| A Lifespace Community

250 Village Drive| Downers Grove, Il 60516

630-769-6200 Office |  630-669-7752 Mobile

Vitality. Purpose. Freedom.


Speaker: Jay Sweeney, AWMA, Saybrus Partners Topic: LIRPs

  • Highest Tax Bracket Currently 37% History of U.S. 1945=94%

  • Taxes likely to increase as the national indebtedness/unfunded liability per individual taxpayer is over $940K [feel like you don’t pay enough in taxes? feel free to ante up your $1mm]

  • Diversify your Allocation of Savings into 3 Buckets

    • Tax Deferred: Pension, Profit Share, 401(k), annuity, IRA/SEP
      [distributed as with RMD at age 59.5/70—taxed at tbd now <40%]

      • Accountants like 401(k) because it’s a deduction

      • 2019 contribution to 401(k) limited to <=$19K

    • Taxable: Real Estate, Stocks/Bonds/Mutual Funds, Money Market, CD
      [distributions are realized gains/dividends, capital gains or ordinary income and taxed in the 20-40% range]

      • Best practice have 6-months living expenses liquid before you direct any $ here

    • Tax Free: Tax Exempt Bond, Educational Savings Account (ie. 529), ROTH IRA distributions [accumulation with tax free distribution]

      • 2019 contrib. to ROTH limited to <=$6K [over 50 can add $1K more]

      • Make >$203K Household Adj.Gross Income disqualifies you for ROTH

  • Life Insurance Retirement Plan [LIRP] is a mid-to-long term tool

  • Life Insurance Analogy

    • Term=RENT—use it for a set time and then it is gone (inexpensive)

    • Permanent=OWN HOME–builds equity, grows tax free, distributes tax free

  • Strategy

    • Protection Design: minimize premiums & maximize death benefit

    • LIRP Design: maximize(*) premium contribution, maximize cash value, minimize death benefit
      (*) Government sets maximum based on age and amount of death benefit

      • No Required Minimum Distribution (RMD) in fact you don’t have to touch it at all if you want to simply leave a legacy

      • Cash Value can be drawn from as desired (tax free) and reduces the death benefit

      • No set contribution, lean years, put in less, boom years put in more (and then some to make up for lean years)

      • Business Owners can expense cost, tax implications

      • Universal Life, there are different types of plans so one can opt for a Variable Universal Life (more risk) or Indexed (S&P 500 for example) with downside protection (aka 0 floor) and upside cap (even when market does better, your cap is the best you get)

      • Riders for Long Term Care (such as 2 of 6 daily activities) can accelerate death benefit

Sponsor Oak Trace Lifespace Community (CCRC)

  • Non-profit with corporate in DesMoines Iowa

    • Any profits are invested back into the community, or distributed to residents and staff

    • Residents qualify and move into independent living and are guaranteed at the move-in rate for the duration of their tenure even as they shift into other levels of care

    • Should they deplete their assets, there is a benevolence fund

  • 5-year renovation/rebuild project is nearly half complete

    • Invitations to open house in April will be forthcoming

    • Once they open assisted living, dementia care, short-term rehab and skilled nursing, will tear down current facility and build 200 independent apartments

  • Construction theme pens and information was placed on each table, and Kourtnie was available before/after meeting at the sponsor table to answer questions


ASSP is a members only association and does not endorse, promote or recommend products or services of any member organization, company or individual member.
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