A Bucket Plan to Go with Your Bucket List A bucket plan can help you be better prepared for a comfortable retirement. Share | Related Content A Primer on Irrevocable Life Insurance Trusts Irrevocable life insurance trusts can be important tools that may accomplish a number of estate objectives. Lifetime of Earnings Estimate how much you have the potential to earn during your working years. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases.