personal retirement account Give your client s retirement plan some real leverage

Size: px
Start display at page:

Download "personal retirement account Give your client s retirement plan some real leverage"

Transcription

1 personal retirement account Give your client s retirement plan some real leverage A retirement savings strategy using universal life insurance

2 Here s the story Janet is 40 and a partner in a large law firm. Her annual income is $150,000 and she makes the maximum allowable RRSP contribution every year. Janet wants to retire when she s 65. Janet is concerned about the following issues: Janet estimates she ll need 70 per cent of her pre-retirement income to achieve the lifestyle she desires during her retirement. Her non-registered savings aren t enough to meet her income needs during retirement. Janet needs to bridge the income gap between her retirement at age 65, and age 71 when she ll start drawing from her registered retirement income fund (RRIF). When her children were younger, Janet recognized the need for income replacement insurance. Now that her children are growing up, her focus has shifted to estate planning. Janet knows her estate will have considerable expenses, including income taxes, probate fees and other costs. She also understands that leaving a sizeable legacy to charity could significantly reduce her final tax bill. As for many investors, traditional tax-preferred savings options make it challenging for Janet to reach her financial goals: the current $22,970 RRSP contribution limit is reached at an earned income of $127,611. the Defined Benefit Retirement Pension Plan limit may be reached with an earned income of $132,333 for plans with a maximum two per cent benefit formula. Plus, participation in such plans reduces RRSP contribution room. the maximum TFSA contribution is $5,500* per year. as income increases, the percentage of pre-retirement income that can be funded through registered plans decreases. The challenge While Janet could look for other options to meet her retirement income needs such as investing in non-registered securities, mutual funds, or segregated funds these possibilities are less than ideal. *Effective January 1, 2013, the TFSA contribution limit is $5,500. The $5,000 TFSA contribution limit will still apply to all years prior to personal retirement account

3 consider the drawbacks taxes payable on the income earned from investments reduces the return. in addition to requiring careful selection and ongoing management, growth equity funds and stock investing often involve frequent portfolio turnover to manage risk, forcing deferred capital gains to be realized. As a result, these options offer limited tax-preferred opportunities and may not be suitable for risk-averse investors. tax shelters such as real estate, film, oil and gas ventures and limited partnerships are high-risk investments that also require careful selection and ongoing management. But is there a better way for Janet to achieve her goals? The solution Personal retirement account One strategy that could help Janet is the personal retirement account (PRA). By combining the insurance and investment components of a SunUniversalLife policy, a PRA can help Janet meet the need for both supplemental retirement income and estate liquidity, in a tax-effective way. Here s how: Funds are invested and accumulate within a SunUniversalLife policy on a tax-preferred basis. These savings can be withdrawn to provide retirement income at a later date, or the policy can be leveraged as collateral for a loan, to supplement retirement income. In either case, the policy s tax-free death benefit can be used to pay taxes and final expenses, such as outstanding loans, leave bequests to charity, or simply maximize the beneficiaries inheritance. personal retirement account 3

4 Accumulation and retirement Janet decides to purchase a $250,000 SunUniversalLife policy. Janet makes payments to her SunUniversalLife policy during her working years. Cash value accumulates within the policy. At retirement, Janet collaterally assigns the policy to a financial institution. or Janet can make withdrawals from the funds accumulated in her policy. The financial institution grants tax-free loans to Janet, based on the value of her SunUniversalLife policy. Janet can use the loan proceeds to supplement her retirement income. At death Tax-free death benefit Financial institution Janet s beneficiaries 4 personal retirement account

5 Meeting your clients needs Consider why the personal retirement account using SunUniversalLife is the right solution for clients like Janet: Janet creates $38,000 of annual retirement income between ages through tax-preferred accumulation and income from annual loans to bridge the income gap between her retirement and when she intends to draw on her RRIF. if Janet dies prior to retirement, her estate receives up to $600,000 on a tax-free basis. These proceeds can be used to preserve her estate by paying the capital gains or other taxes and estate expenses owing at death, or to make a charitable donation. Janet s estate will continue to be entitled to over $450,000 if she dies between the ages of 65 and 95. Estate Value $750,000 $500,000 $250,000 0 estate value Age Alternate Investment UL Withdrawals UL Leverage Net estate value (at death) Age Universal life leveraged loans Universal life withdrawals Alternate investment 70 $497,603 $426,397 $212, $510,657 $434,855 $239,862 83* $521,588 $461,579 $263, $525,214 $543,101 $329,884 *Janet s life expectancy A large number of assumptions were used in preparing the case shown. Performance will be higher or lower than shown here. Even a small change in one of these assumptions can have a dramatic impact on these projected results. No one should implement the above strategy without first reviewing an insurance product illustration and PRA illustration disclosing all of the assumptions and risks. Samples of the documents used to produce the above case will be provided on request. personal retirement account 5

6 If you have higher than average income, you ve probably discovered a worrying fact: earning more before retirement doesn t guarantee adequate income after retirement. You will reach the maximum allowable contribution for registered plans with an income of $124,722. As your salary grows, the gap between current employment income and potential retirement income grows even wider. Take Janet, for instance. She wants to retire at age 65. Janet estimates she ll need 70 per cent of her pre-retirement income to achieve the lifestyle she desires during her retirement and her non-registered savings aren t enough to meet her retirement income needs. At age 40, she is a partner in a large law firm who has two teenage children, an income of $150,000 and an RRSP that just can t keep up. Janet considers investing in non-registered securities, mutual funds or segregated funds, but these aren t ideal because the tax payable on the income earned reduces the return. Growth equity funds and stock investing often involve frequent portfolio turnover to manage risk, forcing deferred capital gains to be realized. These options offer limited tax-preferred opportunities and may not be suitable for risk-averse investors. Tax shelters such as real estate, film, oil and gas ventures and limited partnerships are high-risk investments that also require careful selection and ongoing management. making it easy Our goal is very simple to make it as easy as possible for you to sell and service our products. By providing your clients with a concrete summary of the issues that face them, you will be better positioned to help them structure an effective financial solution. That s why we offer the following tools that you can use to explain the benefits of the PRA strategy to your clients: pra strategy tools Bridge the gap when your income outstrips your rrsp Client fact sheet: This one-page sheet sets out how the PRA strategy works, highlights the benefits, and encourages clients to contact you for more information. the personal retirement account a retirement savings strategy using tax-exempt life insurance meet Janet the challenge Janet will need an investment to generate an additional $38,000 in after-tax income each year to bridge the income gap between her retirement at age 65, and age 71 when she ll start drawing from her Registered Retirement Income Fund (RRIF). PRA illustration: Illustrate the benefits of the PRA strategy with figures and graphs using Sun Life Financial s Eos software. The software demonstrates the advantage of the PRA strategy by comparing the net estate benefit of an exempt life insurance solution to taxable investments. Client reports: To help you illustrate the results of using the PRA strategy, our powerful Eos software enables you to generate full-colour client reports based on their personal financial situations. In addition to a text explanation, the reports also provide a diagram explaining how the strategy works. LEVERAGING A LIFE INSURANCE POLICY A GUIDE FOR LAWYERS, ACCOUNTANTS AND INSURANCE ADVISORS Using life insurance as collateral for personal and business planning. Guide to leveraging a life insurance policy: A guide for lawyers, accountants and insurance advisors, this booklet reviews several methods of accessing cash value of an exempt life insurance policy, including a number of thirdparty leverage structures, with a balanced discussion of benefits and risks. 6 PERSONAL RETIREMENT ACCOUNT

7 What s the bright idea? SunUniversalLife The bright idea behind the personal retirement account is SunUniversalLife. Besides providing your clients with a flexible financial planning tool, SunUniversalLife gives you the confidence to deliver: optimal tax-preferred growth, competitive, guaranteed level cost of insurance, a bonus option that combines a guaranteed investment bonus starting in year two with a unique cost of insurance discount controlled by the client, or a no-bonus option that provides lower management fees on investment account options, a large selection of competitive, tax-preferred investment options, including three exclusive Financial Post Index (FPX)* accounts and seven institutional managed accounts, tax-free access to policy funds if required in future as a result of disability. SunUniversalLife tools SunUniversalLife CLIENT guide For further information about the versatility of SunUniversalLife, our client guide, advisor guide, and investment account options booklet can provide you and your clients with full details about the product s features and benefits. SunUniversalLife provides permanent life insurance protection to meet your long-term needs plus the opportunity for tax-preferred growth in savings. It s designed for people like you who want security, diversified investment opportunities, guarantees and greater flexibility. This flexibility allows you to customize your policy at issue and adjust it as your needs change in the future. What s inside How your SunUniversalLife policy works Types of coverage Custom-design your policy * FPX is a trademark of The National Post Company. PERSONAL RETIREMENT ACCOUNT 7

8 We re here to help We ve been a trusted and reliable company for over 145 years. As a leading international financial services organization, we continue to build on that strong foundation with a focus on market-leading products, expert advice and innovative solutions. Our team of insurance- and investment-focused sales directors, living benefits specialists, and advanced tax and estate planning specialists understand your needs and work with you to help you make the best decisions. Contact your Sales Director or visit today. Life s brighter under the sun Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies. Sun Life Assurance Company of Canada,

GIVE YOUR CLIENT S RETIREMENT PLAN SOME REAL LEVERAGE.

GIVE YOUR CLIENT S RETIREMENT PLAN SOME REAL LEVERAGE. GIVE YOUR CLIENT S RETIREMENT PLAN SOME REAL LEVERAGE. Personal Retirement Account (a retirement savings strategy using life insurance) Here s the story. Janet is 40 and a partner in a large law firm.

More information

GIVE YOUR CLIENTS A RAISE, LONG AFTER THEY RETIRE

GIVE YOUR CLIENTS A RAISE, LONG AFTER THEY RETIRE GIVE YOUR CLIENTS A RAISE, LONG AFTER THEY RETIRE The executive retirement account A strategy using exempt life insurance. Here s the story Robert, 45, is the owner-manager of ABC Manufacturing (ABC) and

More information

Personal retirement account A retirement savings strategy. Show clients a tax-preferred solution to enhance retirement income

Personal retirement account A retirement savings strategy. Show clients a tax-preferred solution to enhance retirement income Personal retirement account A retirement savings strategy using PARTICIPATING life insurance Show clients a tax-preferred solution to enhance retirement income 2 Personal retirement account Here s the

More information

SHARED OWNERSHIP STRATEGY. Help business owners protect company and personal assets and increase their savings.

SHARED OWNERSHIP STRATEGY. Help business owners protect company and personal assets and increase their savings. SHARED OWNERSHIP STRATEGY Help business owners protect company and personal assets and increase their savings. Here s the story James Robinson and Kirk Jones are the shareholders and key managers of Adventure

More information

INSURED ANNUITY STRATEGY. Help your clients increase their after-tax income with universal life, without reducing the estate for their heirs.

INSURED ANNUITY STRATEGY. Help your clients increase their after-tax income with universal life, without reducing the estate for their heirs. INSURED ANNUITY STRATEGY Help your clients increase their after-tax income with universal life, without reducing the estate for their heirs. Here s the story Dennis and Rosemary, ages 68 and 64, have worked

More information

CORPORATE RETIREMENT STRATEGY ADVISOR GUIDE. *Advisor USE ONLY

CORPORATE RETIREMENT STRATEGY ADVISOR GUIDE. *Advisor USE ONLY CORPORATE RETIREMENT STRATEGY ADVISOR GUIDE *Advisor USE ONLY TABLE OF CONTENTS Introduction to the corporate retirement strategy...2 Identify the opportunity - target markets... 3 Policy ownership: corporate

More information

This strategy gives a person the ability to take advantage of the tax-sheltering ability of a life insurance policy.

This strategy gives a person the ability to take advantage of the tax-sheltering ability of a life insurance policy. Insuring the Future In this Newsletter: Supplementing Retirement Income Who should be looking at this strategy? The Registered Savings Problem John Jordan, CFP CERTIFIED FINANCIAL PLANNER Phone: (519)

More information

Retirement Enhancer. A tax-efficient way to enhance your retirement income using universal life insurance

Retirement Enhancer. A tax-efficient way to enhance your retirement income using universal life insurance Retirement Enhancer A tax-efficient way to enhance your retirement income using universal life insurance Will you have enough retirement income to fulfil your dreams? Today, many of us are living longer

More information

> The Role of Insurance in Wealth Planning

> The Role of Insurance in Wealth Planning > The Role of Insurance in Wealth Planning Tax-sheltered investing using life insurance A S S A N T E E S T A T E A N D I N S U R A N C E S E R V I C E S I N C. Tax-sheltered investing using life insurance

More information

Universal Life. What is Universal Life? The Structure of a Universal Life Policy. A Flexible, Tax-Sheltered Investment Program

Universal Life. What is Universal Life? The Structure of a Universal Life Policy. A Flexible, Tax-Sheltered Investment Program Many Canadians consider their Registered Retirement Saving Plan (RRSP) to be their best tax shelter. However, Universal Life (UL) insurance has become an increasingly popular long-term financial planning

More information

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Participate in your brighter future with Sun Life Financial. Participating life insurance is a powerful tool that protects

More information

You and Your SEVERANCE: Mackenzie Tax & Estate Planning

You and Your SEVERANCE: Mackenzie Tax & Estate Planning You and Your SEVERANCE: PUT YOUR MONEY TO WORK Mackenzie Tax & Estate Planning 1 2 Are you facing a change in your employment? Severance, early retirement, extended layoff? Transitions like these can be

More information

> The Role of Insurance in Wealth Planning

> The Role of Insurance in Wealth Planning > The Role of Insurance in Wealth Planning Executive retirement solutions A S S A N T E E S T A T E A N D I N S U R A N C E S E R V I C E S I N C. Executive retirement solutions Everyone wants enough retirement

More information

CONNECTION. BIG picture. ...and see the MAKE THE CONNECTING INVESTMENT ADVICE INVESTMENT ADVICE WEALTH PROTECTION REAL SOLUTIONS

CONNECTION. BIG picture. ...and see the MAKE THE CONNECTING INVESTMENT ADVICE INVESTMENT ADVICE WEALTH PROTECTION REAL SOLUTIONS CONNECTION MAKE THE INVESTMENT ADVICE WEALTH PROTECTION REAL SOLUTIONS...and see the BIG picture with with Money for Money Life for Life CONNECTING INVESTMENT ADVICE with wealth protection solutions Scotia

More information

Your Guide to Retirement Income Planning

Your Guide to Retirement Income Planning Your Guide to Retirement Income Planning Your Guide to Retirement Income Planning 3 Your retirement income plan How to create secure income in retirement Your retirement will be as unique as you are. Travel,

More information

Creating a Life Legacy

Creating a Life Legacy Creating a Life Legacy Prepared for: Client Presented by: Bernie Geiss, TEP, FEA, CLU, CFP Cove Continuity Advisors Inc. October 2009 Issues and Considerations Successful investors have accumulated capital

More information

Total Financial Solutions. Practical Perspectives on Tax Planning

Total Financial Solutions. Practical Perspectives on Tax Planning TM Trademark used under authorization and control of The Bank of Nova Scotia. ScotiaMcLeod is a division of Scotia Capital Inc., Member CIPF. All insurance products are sold through ScotiaMcLeod Financial

More information

Registered Retirement Income Funds

Registered Retirement Income Funds Registered Retirement Income Funds Registered Retirement Income Funds Most Canadians are familiar with registered retirement savings plans (RSPs). Many spend decades accumulating wealth in these tax deferred

More information

Transferring wealth Effective strategies for the typical Canadian

Transferring wealth Effective strategies for the typical Canadian Transferring wealth Effective strategies for the typical Canadian KEEPING IT IN THE FAMILY You ve worked a lifetime to accumulate assets. In fact, the average Canadian family has amassed total personal

More information

THE TAX-FREE SAVINGS ACCOUNT

THE TAX-FREE SAVINGS ACCOUNT THE TAX-FREE SAVINGS ACCOUNT BY READING THIS DOCUMENT, YOU WILL: Know the different features of the TFSA Master the differences between a contribution to an RRSP or a TFSA Identify target clienteles. Last

More information

Invest. Tax-Free (It will make you smile) Tax-Free Savings Account

Invest. Tax-Free (It will make you smile) Tax-Free Savings Account Invest. Tax-Free (It will make you smile) Tax-Free Savings Account A Saving & Investing Revolution The Tax-Free Savings Account (TFSA) is considered to be the most important personal savings plan introduced

More information

Millennium universal life insurance

Millennium universal life insurance Millennium universal life insurance Permanent protection that can change with you Millennium universal life insurance Over the years, you ve worked hard to build the lifestyle you enjoy today. You ve made

More information

> A Lifetime of Financial Security and Peace of Mind

> A Lifetime of Financial Security and Peace of Mind > A Lifetime of Financial Security and Peace of Mind Insurance solutions to meet your personal and business needs ASSANTE ESTATE AND INSURANCE SERVICES INC. Introducing Assante Estate and Insurance Services

More information

Do You Have the Right Life Insurance?

Do You Have the Right Life Insurance? Do You Have the Right Life Insurance? Having adequate life insurance should be an important part of your financial planning. The type(s) you choose will depend on your needs and goals. Life insurance was

More information

>Most investors spend the majority of their time thinking and planning

>Most investors spend the majority of their time thinking and planning Generating Retirement Income using a Systematic Withdrawal Plan SPECIAL REPORT >Most investors spend the majority of their time thinking and planning around how best to save for retirement. But once you

More information

Introducing. Tax-Free Savings Accounts

Introducing. Tax-Free Savings Accounts Introducing Tax-Free Savings Accounts Tax-Free Savings Accounts A new way to save Tax-free savings accounts were introduced by the federal government in the 2008 budget as an incentive for Canadians to

More information

LIFE INSURANCE. for the WEALTHY The myth-busting benefits

LIFE INSURANCE. for the WEALTHY The myth-busting benefits APRIL 2014 LIFE INSURANCE for the WEALTHY The myth-busting benefits KEY INSIGHTS: 1. Insurance can help preserve affluent lifestyles 2. Permanent life insurance can protect or enhance financial capital

More information

Life Insurance Portfolio AT A GLANCE SUN LIFE FINANCIAL

Life Insurance Portfolio AT A GLANCE SUN LIFE FINANCIAL ADVISOR USE ONLY Life Insurance Portfolio AT A GLANCE SUN LIFE FINANCIAL SunTerm Sun Limited Pay Life SunUniversalLife and SunUniversalLife Max Sun Par Protector Sun Par Accumulator You can meet your clients

More information

THE TAX-FREE SAVINGS ACCOUNT

THE TAX-FREE SAVINGS ACCOUNT THE TAX-FREE SAVINGS ACCOUNT The 2008 federal budget introduced the Tax-Free Savings Account (TFSA) for individuals beginning in 2009. The TFSA allows you to set money aside without paying tax on the income

More information

Wealth Management Essentials for Oil and Gas Professionals

Wealth Management Essentials for Oil and Gas Professionals Wealth Management Essentials for Oil and Gas Professionals Presented By Sean Baylis Investment Advisor Disclaimer Flow-through investments may not be suitable for all investors. Please read the prospectus

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

financial planning & advice

financial planning & advice financial planning & advice Tips for successful investing. Start early and invest regularly Do your homework take the time to become an informed investor Develop an investment strategy you are comfortable

More information

Protect your business and enhance your financial security. Business Insurance Strategies

Protect your business and enhance your financial security. Business Insurance Strategies Protect your business and enhance your financial security Business Insurance Strategies Ensure your financial security There are often distinct advantages to being a significant shareholder in a private

More information

Your group tax-free savings account

Your group tax-free savings account Your group tax-free savings account What s a TFSA? It s a flexible investment savings plan that allows you to earn tax-free investment income. A tax-free savings account (TFSA) is a new type of savings

More information

Universal Life Insurance An Introduction for Professional Advisors

Universal Life Insurance An Introduction for Professional Advisors Page 1 of 17 Universal Life Insurance An Introduction for Professional Advisors Introduction... 2 Life Insurance uses... 2 Taxation of Life Insurance... 3 Accumulating Cash/Fund Values... 4 Maximizing

More information

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun Shedding light on Life insurance A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY LEARN MORE ABOUT: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

A strategy to maximize your support of your favourite charity

A strategy to maximize your support of your favourite charity A strategy to maximize your support of your favourite charity Planned giving Planned giving using life insurance is for individuals who Feel compassion and want to give to a cause in which they personally

More information

Personal Financial Plan

Personal Financial Plan Personal Financial Plan Pete and Carrie Mitchell 918 Richmond Street Toronto, Ontario M5N 1V5 Disclaimer This document has been prepared to assist in the analysis of your current financial position, thereby

More information

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security Shedding light on Life insurance a practical guide to helping you achieve a lifetime of financial security Learn more about: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

The Corporate Investment Shelter. Corporate investments

The Corporate Investment Shelter. Corporate investments September 2012 The Corporate Investment Shelter Many successful business owners retire with more assets than they need to live well. With that realization, their focus can shift from providing retirement

More information

UNIVERSAL LIFE INSURANCE. Flexible permanent protection

UNIVERSAL LIFE INSURANCE. Flexible permanent protection UNIVERSAL LIFE INSURANCE Flexible permanent protection A solution to your financial security needs and goals Universal life insurance from London Life At London Life, we create products to help you meet

More information

John and Jane Client June 2015

John and Jane Client June 2015 John and Jane Client June 2015 Table Of Contents About This Plan 2 Assumptions 3 About You 4 Your Goals & Objectives 5 Opportunities, Concerns & Notes 6 Net Worth Statement 7 Sources of Income 8 Lifestyle

More information

Financial security protection tailored for your lifestyle

Financial security protection tailored for your lifestyle G R E A T - W E S T L I F E U n i v e r s a l l i f e i n s u r a n c e Financial security protection tailored for your lifestyle F A L L 2 0 0 6 G r e a t - W e s t u n i v e r s a l l i f e i n s u

More information

Charitable Planned Giving

Charitable Planned Giving ` Insuring the Future In this Newsletter: Charitable Planned Giving Legislative Changes John Jordan, CFP CERTIFIED FINANCIAL PLANNER Phone: (519) 272-3112 Toll Free: (866) 272-3112 Fax: (519) 662-6414

More information

Corporate Insured Retirement Plan. Because successful businesses need security and income

Corporate Insured Retirement Plan. Because successful businesses need security and income Corporate Insured Retirement Plan Because successful businesses need security and income The Opportunity Business owners who need insurance to Fund a buy-sell agreement between partners of the company

More information

Investor Guide. RRIF Investing. Managing your money in retirement

Investor Guide. RRIF Investing. Managing your money in retirement Investor Guide RRIF Investing Managing your money in retirement 1 What s inside It s almost time to roll over your RRSP...3 RRIFs...4 Frequently asked questions...5 Manage your RRIF...8 Your advisor...10

More information

Build a Strong Financial Future

Build a Strong Financial Future The Principal Financial Group Build a Strong Financial Future LIFE INSURANCE AS AN ASSET Building a strong financial future You work hard to build financial security for you and your family. Are you considering

More information

How Can You Reduce Your Taxes?

How Can You Reduce Your Taxes? RON GRAHAM AND ASSOCIATES LTD. 10585 111 Street NW, Edmonton, Alberta, T5M 0L7 Telephone (780) 429-6775 Facsimile (780) 424-0004 Email rgraham@rgafinancial.com How Can You Reduce Your Taxes? Tax Brackets.

More information

The Proposed Tax-Free Savings Account

The Proposed Tax-Free Savings Account The Proposed Tax-Free Savings Account The Conservatives 2006 election promises included a proposal to eliminate capital gains taxes where the proceeds were reinvested within six months. Taxpayers and financial

More information

Life s brighter under the sun (and so is your retirement)

Life s brighter under the sun (and so is your retirement) Life s brighter under the sun (and so is your retirement) Key topics Your retirement options Understanding your plan Choosing your investments Managing your account Take action 2 YOUR RETIREMENT OPTIONS

More information

IRA Maximization. Wealth transfer strategies to enhance your legacy CLC.1124 (05.14)

IRA Maximization. Wealth transfer strategies to enhance your legacy CLC.1124 (05.14) Maximization Wealth transfer strategies to enhance your legacy CLC.1124 (05.14) Congratulations! For many years you ve put in the hard work planning, saving and investing for retirement. With all of that

More information

Protection Solutions. This is all about. Insured Annuities. with Standard Life

Protection Solutions. This is all about. Insured Annuities. with Standard Life Protection Solutions This is all about Insured Annuities with Standard Life Hello. What is an Insured Annuity? The insured annuity uses two products: a prescribed annuity and life insurance. The prescribed

More information

F O R Y O U R F A M I L Y

F O R Y O U R F A M I L Y FOR YOUR FAMILY Your partner or loved ones will face many decisions upon your death. We hope this brochure makes it easier for them to make those decisions then and easier for you to talk with them about

More information

INSURANCE. Life Insurance. as an. Asset Class

INSURANCE. Life Insurance. as an. Asset Class INSURANCE Life Insurance as an Asset Class 16 FORUM JUNE / JULY 2013 Permanent life insurance has always been an exceptional estate planning tool, but as Wayne Miller and Sally Murdock report, it has additional

More information

Making the Most of Your Charitable Gifts for 2015

Making the Most of Your Charitable Gifts for 2015 Making the Most of Your Charitable Gifts for 2015 January 30, 2015 No. 2015-07 Canada s tax incentives for charitable donations are designed to make it easier for you to support your favourite charities.

More information

plaintalk about life insurance

plaintalk about life insurance plaintalk about life insurance The right life insurance protection can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well

More information

Corporate estate transfer with cash withdrawal

Corporate estate transfer with cash withdrawal Life Insurance Solutions guarantees products assets opportunities growth capital protection income benefit solutions options stability Plan today. Provide tomorrow. Corporate estate transfer with cash

More information

Permanent Benefit Group Life Insurance Under Code Section 79

Permanent Benefit Group Life Insurance Under Code Section 79 Permanent Benefit Group Life Insurance Under Code Section 79 Expanding the Benefits of Group Life Insurance Advantages of Permanent Benefit Group Life Insurance. Giving employees the option to use cash

More information

Take a step in the right direction. Protect your family and plan for the future with life insurance. Nationwide YourLife Current Assumption UL

Take a step in the right direction. Protect your family and plan for the future with life insurance. Nationwide YourLife Current Assumption UL Nationwide YourLife Current Assumption UL Client guide Take a step in the right direction. Protect your family and plan for the future with life insurance. Nothing says security like knowing you and your

More information

Retirement Compensation Arrangement

Retirement Compensation Arrangement tax efficient retirement planning tool business GUIDELINES Retirement Compensation Arrangement Supplement Retirement Income while providing Tax Deductible contributions RRSPs and Pension Plans provide

More information

LIFE INSURANCE OVERVIEW

LIFE INSURANCE OVERVIEW LIFE INSURANCE OVERVIEW Most people think of life insurance in terms of death benefit protection. However, today s policies also provide the vehicles for meeting other goals, such as saving for retirement

More information

Continuing Education for Advisors

Continuing Education for Advisors Continuing Education for Advisors knowledge continuing training educate online awareness participate Participating life insurance Learning objectives By the end of this course you will be able to: Explain

More information

Estate Planning. Insured Inheritance. Income Shelter. Insured Annuity. Capital Gains Protector

Estate Planning. Insured Inheritance. Income Shelter. Insured Annuity. Capital Gains Protector Estate Planning Insured Inheritance The Insured Inheritance concept demonstrates an opportunity to shelter a lump sum investment from income tax and to ensure that the maximum tax-free dollars become available

More information

Registered Retirement Income Funds

Registered Retirement Income Funds Registered Retirement Income Funds The Income Tax Act states that a Registered Retirement Savings Plan (RRSP) matures by December 31 of the year in which the planholder (annuitant) reaches age 69. At the

More information

Corporate Estate Transfer Strategy

Corporate Estate Transfer Strategy Transamerica s Monarch Series Client Guide Corporate Estate Transfer Strategy Monarch Series The logic behind the solution Monarch Series The logic behind the solution The logic behind the solution Transamerica

More information

holistic retirement advice

holistic retirement advice Protecting your v business with holistic retirement advice a Let s talk about the Corporate Investment Shelter strategy a Life insurance is wealth protection Total wealth = human capital + financial capital

More information

Tax Planning 101 for Canadian Investors

Tax Planning 101 for Canadian Investors Tax Planning 101 for Canadian Investors Tariq Ali Asghar www.emergingstar.com 1 TABLE OF CONTENTS Goal of Tax Planning Analysis Part One: Tax Planning and Investment Management Strategies 1. Different

More information

Life insurance solutions for. business owners

Life insurance solutions for. business owners Life insurance solutions for business owners Life insurance solutions for business owners What s the best life insurance for business owners? It depends on where you see yourself in the future and at which

More information

Solut!ons for financial planning

Solut!ons for financial planning Understanding your options this RRSP season 16 Solut!ons for financial planning Consider mutual funds and segregated fund contracts You ve likely heard it before: you should regularly contribute to a Registered

More information

Freedom to enjoy tax-free retirement income

Freedom to enjoy tax-free retirement income Tax-efficient retirement income Using life insurance Freedom to enjoy tax-free retirement income 291194 F (9/13) The Protect. Grow. Give. philosophy With life and disability income insurance, you have

More information

LIVE WITH CONFIDENCE.

LIVE WITH CONFIDENCE. LIVE WITH CONFIDENCE. To better explain the role life insurance can play in this strategy, we ll use the following elements in our illustrations: a corporation (OPCO), a holding company () and the business

More information

Unlocking the value of whole life

Unlocking the value of whole life An Educational Guide for Individuals Unlocking the value of whole life Whole life insurance as a financial asset Insurance Strategies Contents 3 Whole life insurance: A versatile financial asset 4 Providing

More information

Table of Contents. Page 2 of 10

Table of Contents. Page 2 of 10 Page 1 of 10 Table of Contents What is an RRSP?... 3 Why should you put money into an RRSP?... 3 When should you start an RRSP?... 3 The convenience of regular RRSP deposits... 3 How much can you contribute?...

More information

Fact Finding Guide. Estate Preservation

Fact Finding Guide. Estate Preservation Fact Finding Guide Estate Preservation Fact Finding Guide This Fact Finding Guide helps you gather the important information you need to show your clients how life insurance can be used to offset final

More information

Building an Effective Retirement Portfolio with Whole Life Insurance Guarding Your Retirement Style

Building an Effective Retirement Portfolio with Whole Life Insurance Guarding Your Retirement Style Building an Effective Retirement Portfolio with Whole Life Insurance Guarding Your Retirement Style A CONSUMER GUIDE The Boomer Generation an Introduction to a Different Decade When do you plan to retire?

More information

plain talk about life insurance

plain talk about life insurance plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well positioned

More information

Leveraged Life Insurance Personal Ownership

Leveraged Life Insurance Personal Ownership Leveraged Life Insurance Personal Ownership Introduction Leveraged life insurance is a financial planning strategy that uses the cash value of an exempt life insurance policy as collateral security for

More information

ACTIONABLE STRATEGIES FOR REDUCING MEDICARE TAXES

ACTIONABLE STRATEGIES FOR REDUCING MEDICARE TAXES ACTIONABLE STRATEGIES FOR REDUCING MEDICARE TAXES Medicare taxes increased in 2013 for high-income earners. Timely action can help reduce the impact of higher taxes. KEY TAKEAWAYS High-income taxpayers

More information

Enjoy the freedom of tax-free retirement income

Enjoy the freedom of tax-free retirement income Tax-efficient retirement income Using life insurance Enjoy the freedom of tax-free retirement income 111833 A (10/15) Ameriprise Financial Confident Retirement approach The Ameriprise Financial Confident

More information

Whole Life Insurance. John Perre Regional Life Sales Manager

Whole Life Insurance. John Perre Regional Life Sales Manager Introduction to Whole Life Insurance John Perre Regional Life Sales Manager Agenda Introduction to Equitable Life Stock company VS a mutual company Benefits of dealing with a Mutual Company Introduction

More information

The Estate Preserver Plan. Advisor Guide

The Estate Preserver Plan. Advisor Guide The Estate Preserver Plan Advisor Guide Table of Contents Introduction to the Estate Preserver Plan 2 The Opportunity 3 The Solution 4 Tax Considerations 5 Probate and Executor Fees 7 Case Study 8 Underwriting

More information

Split Dollar Life Insurance is possible because a permanent Life Insurance policy has two main components to it: a Death Benefit and a Cash Value.

Split Dollar Life Insurance is possible because a permanent Life Insurance policy has two main components to it: a Death Benefit and a Cash Value. Insuring the Future In this Newsletter: Split Dollar Insurance Conventional and Reverse Split Dollar Arrangements Benefits of a Split Dollar Arrangement Types of Split Dollar Arrangements Buy/sell Split

More information

All the answers you need

All the answers you need For representatives use only JANUARY 2015 All the answers you need Savings products sales guide Inside: Quick reference guide on our savings products Desjardins Insurance refers to Desjardins Financial

More information

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY Retirement income solutions advisor guide *Advisor USE ONLY Design guide for retirement income solutions What s inside Discussing retirement needs with clients Retirement income product comparison Creating

More information

YOUR PRACTICE AND POSITIONING FOR STRATEGIC ADVANTAGE LEADERS PARTNERS, INC. 100 S. WYNSTONE PARK DRIVE NORTH BARRINGTON, IL 60010 847.304.

YOUR PRACTICE AND POSITIONING FOR STRATEGIC ADVANTAGE LEADERS PARTNERS, INC. 100 S. WYNSTONE PARK DRIVE NORTH BARRINGTON, IL 60010 847.304. YOUR PRACTICE AND LEADERS PARTNERS POSITIONING FOR STRATEGIC ADVANTAGE ASSET LEVERAGE STRATEGIES INTRINSIC STOCK VALUE LOCK IN STRATEGY We all have our favorite stocks which most likely have taken a hit

More information

TAX-EFFICIENT INVESTMENT STRATEGIES FOR EVERY LIFE STAGE: THREE CASE STUDIES

TAX-EFFICIENT INVESTMENT STRATEGIES FOR EVERY LIFE STAGE: THREE CASE STUDIES Page 1 of 5 TAX-EFFICIENT INVESTMENT STRATEGIES FOR EVERY LIFE STAGE: THREE CASE STUDIES March 06, 2012 Jordan Dancey has just started his first full-time job. Bill and DeeDee Williams are in their 50s,

More information

PLAIN TALK about LIFE INSURANCE

PLAIN TALK about LIFE INSURANCE PLAIN TALK about LIFE INSURANCE Having the right life insurance protection can have an enormous effect on your life and the lives of those you love. A proper financial security plan can mean the difference

More information

UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE. Flexible protection for what s most important in life

UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE. Flexible protection for what s most important in life UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE Flexible protection for what s most important in life Protection for all the moments that matter Be sure to choose a product that meets long-term life insurance

More information

Destiny. a guide for clients

Destiny. a guide for clients Destiny a guide for clients 1 For those who prefer choice over chance Destiny is universal life insurance that provides a broad spectrum of choices to protect your life, your investments, and your business.

More information

Everything you need to know about Tax-Free Savings Accounts (TFSAs)

Everything you need to know about Tax-Free Savings Accounts (TFSAs) Tax, Retirement & Estate Planning Services TAX-FREE SAVINGS ACCOUNT THE FACTS Everything you need to know about Tax-Free Savings Accounts (TFSAs) Until 2009, many Canadians held their savings in Registered

More information

Making the right choice

Making the right choice GROUP RETIREMENT SAVINGS SOLUTIONS Simply let our experts guide you Desjardins & Co. Making the right choice Reference Guide for Employers Group Retirement Savings Products At Desjardins Group, we excel

More information