Few products act as both a tax exempt wealth transfer vehicle and an asset class in Canada. Life insurance also provides a prompt source of liquidity protecting both your family and the business in a worst case scenario.
There is usually agreement that the company produces the wealth. Life insurance provides a prompt source of tax-free cash when it is needed most. This buys the family the time to make the tough decisions.
Efficient tax planning provides more operating capital for the company as well as consumption capital for you and your family. It is important that a business owner understands the benefits of tax-exempt life insurance from a tax planning perspective.
Effective estate planning makes both the business and the family more tax efficient. Life insurance addresses many complex estate issues and allows for the efficient transfer of wealth from the company and its shareholders to the family.
“…extremely knowledgeable and professional…their approach makes you feel comfortable and in good hands…unique investment options, keeps you informed…someone you can trust.”
- Dennis Domenichini, P.Eng, President,
Domson Engineering and Inspection Ltd. Brampton, ON
Need some information?
Contact us with no obligation.
We are pleased to provide you with the latest bimonthly Chartered Life Underwriter (CLU) Comment letter, number 314 for March & April 2019. This edition of COMMENT looks at four issues: Business Overhead Insurance, Beware of RRSP Over-Contributions, Rights or Things, and Employee Death Benefit. Read … read more
We are pleased to provide you with the latest bimonthly Chartered Life Underwriter (CLU) Comment letter, number 313 for January & February 2019. This edition of COMMENT looks at three issues: testamentary gift planning, tax filing season: a look back and ahead, and benefits … read more
We are pleased to provide you with the latest bimonthly Chartered Life Underwriter (CLU) Comment letter, number 312 for November & December 2018. This edition of Comment looks at four issues: spousal support, combatting tax evasion through increased transparency, easing the financial strain of … read more
“The Canada Revenue Agency has once again made a secret out-of-court settlement with wealthy KPMG clients caught using what the CRA itself had alleged was a “grossly negligent” offshore “sham” set up to avoid detection by tax authorities, CBC’s The Fifth Estate and Radio-Canada’s … read more
“A team of researchers at York University has warned that the American bumblebee is facing imminent extinction from Canada, and this could lead to “cascading impacts” throughout the country,” wrote Desmond Brown for CBC News on April 22, 2019. Brown … read more
“Vaccinations are commonly considered a childhood health issue, but if adults think they’re protected, doctors say that’s not always the case. Some adults may need a vaccination booster for highly contagious infectious diseases like measles,” wrote Amina Zafar for … read more