Things you need to know
Most people are aware of the benefits of tax-effective investing through vehicles such as Registered Retirement Savings Plan or Tax-Free Savings Account. The important role life insurance can play in protecting loved ones and providing an estate after death is also well known. Fewer are aware that you can combine your tax-savvy investing and life insurance needs. It’s called Universal Life Insurance.
Universal Life insurance provides the flexibility to help you live your life to the fullest
- Universal Life provides the peace of mind of insurance while allowing you to invest your assets tax-effectively.
- Every premium you pay is deposited into an interest account within your policy, where your money grows tax-free for as long as it remains in your policy.
- If you are financially secure and want to focus on wealth accumulation, already make your maximum annual RRSP contribution, and are nearing retirement and want to focus on estate preservation, you should consider a Universal Life Insurance plan.
Preserve your estate assets with tax-free benefits
Tailor premiums and coverage to your changing needs