Have you found yourself wondering if you really need that life insurance policy you pay for every month? You are not alone. As time goes on we often forget the reasons behind purchasing the amount and type of coverage we…
If you have ever thought that life insurance was something you wouldn’t need after you reached a certain level of financial security, you might be interested in knowing why many wealthy individuals still carry large amounts of insurance. Consider the…
The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children. There is even a term for those of us who are in…
The majority of Canadians work hard to accumulate a retirement fund and many are averse to exposing savings to unnecessary market risk after they retire. In today’s prolonged low interest rate environment, immediate annuities are often dismissed or overlooked as…
Canadians may need to rethink their risk management In a recent study conducted by the Life Insurance and Market Research Association (LIMRA), it was reported that 61% of Canadians hold some form of life insurance. Surprisingly, it also revealed that…
Don’t Put Off Your Decision to Buy Life Insurance 2016 is an opportune year to buy life insurance. New laws affecting the taxation of life insurance come into effect on January 1, 2017. After this date new policies will not…
Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs. Soon the amount of funds that can be tax sheltered within a life insurance policy…
Growing your estate without undue market risk and taxes Often we see older investors shift gears near retirement and beyond. Many become risk adverse and move their assets into fixed income type investments. Unfortunately this often results in the assets being…
Or so the saying goes. This certainly is true in Canada where there is a “deemed disposition” when a taxpayer dies. What this means is that a taxpayer is deemed to dispose of all his or her assets at fair…
Ownership of individual life insurance at its lowest level in 30 years The Life Insurance and Market Research Association (LIMRA) 2013 study shines a light on a developing problem for Canadian households: Individual ownership of life insurance was at its…
