An irrevocable life insurance trust (ILIT) is a 100% tax-efficient structure that builds and preserves wealth, while eliminating all taxes legally. In addition to providing a life insurance benefit, an ILIT enables tax-free investment growth, tax-free distributions to beneficiaries, and tax-free family wealth transfer in complete compliance with U.S. tax law. An ILIT can continue perpetually. Business owners: To protect your business and build wealth, click CAPTIVE INSURANCE on the menu bar above.