For many businesses, key person life insurance is critical to their risk mitigation strategy. This type of insurance solution helps to reduce the financial hardship that may occur upon the death of an essential employee, such as a top salesperson. This was the case for one Lower Mainland business that set up a life insurance […]
Category Archives: Tax-Saving Solutions
20
Jun
Jun
MARY’S STORY – PRESERVING LIFE INSURANCE TAX SAVINGS OF $1.4M Mary and her husband operated a successful family business, which is now in the capable hands of their children and grandchildren. But with Mary in her 90s and failing health, her advisors wanted to review her corporate life insurance policies purchased in the early 1980s. […]
Income Tax Rules, Life Insurance, News, Tax-Saving Solutions
Rediscover the tax-saving ability of life insurance.
24
Aug
Aug
Over the past couple of weeks, a lot has been written about Finance Minister Bill Morneau’s proposal to fix the perceived unfairness in the way that private-business owners, family businesses, and incorporated professionals pay tax. While the proposal was not a surprise, it was the scope of the changes that many found alarming. In the […]
Income Tax Rules, Life Insurance, News, Tax-Saving Solutions
Despite taxation changes in 2017, life insurance products remain competitive.
25
Apr
Apr
In a previous article on the changes to the taxation of life insurance, we speculated on what insurers might do to their products to keep them competitive in the 2017 tax environment. And while the changes were significant, we had every confidence in the actuaries that they would develop their products to provide value to […]
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