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 growth, tax-free distributions to beneficiaries, and tax-free family wealth transfer in complete compliance with U.S. tax law. An ILIT can efficiently own domestic, low-risk IUL (Indexed Universal Life insurance) or offshore PPLI (Private Placement Life Insurance) to provide asset protection and market-linked growth, while continuing for generations, even perpetually.