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What does ILIT stand for?

ILIT stands for Irrevocable Life Insurance Trust

This definition appears very frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

See other definitions of ILIT

Other Resources:
We have 2 other meanings of ILIT in our Acronym Attic

Samples in periodicals archive:

The goals of the beneficiary One suggestion advisors often make to their clients when it comes to life insurance is to use an irrevocable life insurance trust (ILIT) to own the policy for future beneficiaries.
John Hancock Advanced Markets Group Offers Clients New Method To Fund An Irrevocable Life Insurance Trust While Reducing Taxes BOSTON, May 26, 2011 /PRNewswire/ -- The John Hancock Life Insurance Advanced Markets Group has introduced a JH Solutions module to help clients take advantage of historically low insurance rates and use arbitrage to pay premiums on an Irrevocable Life Insurance Trust (ILIT).
[ILLUSTRATION OMITTED] Life insurance can provide an "instant" source of liquidity to the estate of an owner of a closely held business, preferably when the policy insuring the business owner's life is held by an irrevocable life insurance trust (ILIT).