Is an insured RRSP / RRIF Program right for you?
Benefits :
- Protect your estate from excessive taxation
- Maximize the benefits you provide to your loved ones and heirs
- Avoid the costly delays and expenses of probate.
Registered Retirement programs areone of the best ways for Canadians to financially prepare themselves for retirement, But while many uof us spend a great deal of time trying to maximize our RRSP and RRIF opportunities, looking for the best rates of return and the most flexible options, few actively look for ways to minimize tax on death.
Contributions and earnings on registered retirement plans are tax-sheltered as lond as they are held within the plan. In the event of death, however,unless thereis a surviving spouse, investments held with RRSP’s and RRIFs are 100%taxable which means your estate could lose as much as 50% of your retirement assets. And even when there is a surviving spouse, it usually means the tax bill on the assets is simply delayed,not avoided.
Combining Life Insurance with your RRSP / RRIF program will maximize your transfer of wealth to your loved ones
