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MONEY. WEALTH. Life Insurance: The Path to Generational WealthAuthor Jake Thompson explores how policies with a cash value component can offer significant tax benefits, guaranteed growth, and flexible access to funds. Get the PDF version of the complete ebook Money. Wealth. Life Insurance.: How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their. While permanent life insurance can be an excellent way to build estate value, it can also be used as an additional tax-efficient source of retirement income.