Experts say life insurance could gain favor if IRAs are limited to a maximum value of about $3 million, a proposal included in President Barack Obama's budget plan. Investors whose IRAs are above the limit may consider withdrawing and paying taxes on the proceeds, then reinvesting them in life insurance products, where their assets can grow tax-deferred, accumulate cash value and be paid out to beneficiaries free of income or estate taxes, experts say.

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