Browse insurance concepts
For individuals and couples who want to help offset taxes due on their estate.
How it works:Purchase enough life insurance to cover your client’s projected taxes at death.
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In this video, learn how the Estate Preserver Plan worked for Rick and Susan:
For individuals or couples with significant assets looking to maximize the amount they transfer to their heirs.
How it works: Have your client choose a tax-exempt life insurance policy and select an investment mix that works for them. Then, designate your client as the owners and their heirs as the beneficiaries. Upon your client’s death the value of the policy passes tax efficiently to their heirs.
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In this video, learn how the Personal Asset Transfer Plan can be advantageous for your clients:
For individual retirees or ‘pre-retirees’ looking for a tax-effective way to pass on their assets to their children or grandchildrenfootnote star.
How it works: Your client purchases insurance on an adult child (or grandchild). Then your client can choose to transfer the policy to their child or grandchild either while they are alive or at death.
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For individuals and couples who want some life insurance coverage combined with supplemental retirement income.
How it works: Your client maximum-funds a universal life or whole life policy. When they retire, they assign the Cash Value of the policy as collateral for a loan which can provide a source of tax-free income. The outstanding loan balance is paid back using the proceeds of the tax-free death benefit.
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For business owners who need life insurance and want to eventually liquidate and transfer their corporation’s passive assets to their heirs upon their death in a tax-efficient manner.
How it works: Your client funds a tax-exempt life insurance policy (like a universal life or whole life policy) with their corporation’s passive assets. They’ll benefit from tax-deferred growth on their net investments. Then, upon death, the funds are tax-efficiently transferred to their heirs.
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For small business owners of Canadian corporations who want to help protect their business with life insurance and create a source of cash which can be accessed in a tax-efficient manner.
How it works: Maximum-fund a universal life policy based on the insurance and investment objectives of the corporation. Then use the cash value of the policy as collateral for bank loans which can be repaid with the death benefit proceeds.
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