What is an Insured Retirement Plan (IRP)?

To break it down, an IRP is basically a strategy used by insurance companies to compile a tax-deferred investment within an existing life insurance policy during your working years. Once you have retired, you can use these funds as collateral against a loan, instead of withdrawing the actual funds themselves.

Insured Retirement Plan or IRP is a financial strategy that is literally a tax-deferred investment inside a life insurance policy. There are three primary things for IRP, and they are to have a good and steady income, accumulation, and life insurance. It can become tax-free money if it reaches the maximum amount.