by Roccy DeFrancesco
on May 12, 2015
Pac Life suspends Section 79 plan sales
I have just confirmed that Pacific Life Insurance suspended all sales of their Section 79 plan.
Why are sales being suspended? I don’t have a definitive or “on the record” reason, but I have been advised that the reason is IRS related. Section 79 Plans are not worth implementing.
I have been warning people about abusive Section 79 plans for years and years.