Using life insurance to leave your kids an inheritance

Author: ExTeRNaL AuThoR | | Categories: Business Insurance , Corporate Tax Saving Plan , Disability Insurance , Home Insurance , Insurance Advisor , Insurance Agency , Insurance Services , Mortgage Insurance , Non-Medical Life Insurance , Non-Registered Savings Plan , Registered Education Savings Plan

Blog by Paul's Insurance

Like a reverse mortgage, you would borrow against the policy’s cash value. When you pass away, the loan is paid off with the tax-free life insurance death benefit and the remaining insurance is paid out to your children tax-free. Here’s how it can work.

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Original Article Source Credits: MoneySense , https://www.moneysense.ca/

Article Written By : SPECIAL TO MONEYSENSE

Original Article Posted on : MARCH 11, 2020

Link to Original Article:  https://www.moneysense.ca/columns/ask-moneysense/using-life-insurance-to-leave-your-kids-an-inheritance/



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