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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event you require these assets for retirement income, like an RSP, you will pay tax on the proceeds as they are withdrawn.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
201599,999.95Cheque1,956,644Illustration
201699,999.95Cheque36,72936,4492,086,8872,085,8972016
201799,999.95Cheque74,78075,0162,212,7382,213,5472017
201899,999.95Cheque115,398115,3602,337,4972,337,3692018
201999,999.95Cheque158,663157,9862,463,5532,461,3912019
202099,999.95206,2412,591,233
202199,999.95256,6552,720,498
202299,999.95350,1222,850,290
202399,999.95435,3782,981,232
202499,999.95532,0623,113,409
202599,999.95644,0293,248,283
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