Category Archives: Tax-Saving Solutions

Preserving $2M Tax-Free Death Benefit of a Key Person Life Insurance Policy

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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 […]

Rediscover the tax-saving ability of life insurance.

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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 […]

Despite taxation changes in 2017, life insurance products remain competitive.

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 […]

Funding Capital Gains Tax with Life Insurance?

Take advantage of current and favourable CRA rules to fund capital gains tax liabilities. It has been a long time since major changes were made to life insurance legislation in Canada that negatively impact your ability to fund capital gains tax. That’s all about to change with the introduction of new exempt test rules for life insurance […]