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Protection

OVERVIEW

This tax sheltered insurance account is owned by your holding company. The tax sheltered account holds fixed income assets and insurance tax law permits growth inside the account to accumulate tax sheltered. In the unlikely event you require these assets for retirement income, like an RSP, you will pay tax on the proceeds as they are withdrawn. Alternatively, this account is assignable and as such could be used as collateral for a loan (reverse mortgage) in which case, income received would not be taxable. The accumulation account along with the face amount of coverage is paid to the estate free of tax.

Policy Summary

Funding Summary

YearDeposit Transaction Projected Cash ValueActual Cash Value Projected Estate Benefit Actual Estate BenefitAnnual Policy Statements
201750,000Cheque1,706,164Illustration
201850,000Cheque9,81210,3781,748,6401,647,8282018
201950,000Cheque19,67921,9411,788,5011,689,7802019
202050,00029,9941,827,106
202150,00040,7841,864,857
202250,00052,3411,902,936
202350,00065,1511,942,217
202450,000101,0361,982,850
202550,000132,0502,025,468
202650,000166,0062,070,245
202750,000208,1061,991,112
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