Nine Tax-Saving Tips for IndividualsThe most useful methods of tax savings available to Canadians, that could help in long term financial planning.
Life insurance as a means of maximizing wealthWhat about families with minimal debt and full grown children? Why would they need or want life insurance. Could life insurance help in maximizing wealth?
Posted by Chantal Marr.
Chantal Marr is a member of the Independent Financial Brokers of Canada.
Much of her success stems from her ability to listen to her clients' needs.
Read Chantal's background.
I would be haapy to have your tips on saving taxes.
I have a life insurance policy
am i able to take money out of that policy to pay off debt
Thanks for the note. It depends on the policy – many Permanent policies have a cash value which you take on surrender or via policy loan.
Hello…could you please tell me if taking a cash value from my perm life insurance policy is to be reported on my income tax? Thank you
Thanks for the note. This would depend if the cash value exceeds the policies adjusted cost base. The insurance company can ,ake this calculation for you.
I have recently bought a term life insurance policy as well as a critical insurance policy for myself and my sister – 41 and 47 yrs respectively. however i don’t feel comfortable or safe with the policy i have and was wondering if there was anyway i could have this checked or changed.I was also not sure if my broker helped me with my requirements accurately.
Thanks for the note Lorraine. We are happy to help and we’ll send you an email now.
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