Insurance as an Investment
Due to the tax advantaged nature of life insurance, those looking for tax deferred growth, and supplemental retirement income are well advised to consider the benefits of permanent life insurance.
As an investment, using life insurance to accumulate tax-advantaged growth of policy values is attractive. Allowing cash to grow without the influence of taxation is a tremendous advantage. Cash value of the insurance policy can later be accessed to provide added income at retirement and a tax-free transfer, at death, of the remaining death benefit to your intended heirs.
Under current Canadian income tax legislation, a life insurance policy is exempt from annual taxation on the growth of policy values, provided certain conditions are met. To learn more about how you can benefit from tax deferred growth, please contact us.
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