Leaving an inheritance between generations by means of/OR through life insurance… It is an advantageous and popular method.
By mutual agreement between parents and their children, the children can buy an insurance policy and pay the premiums for their parents or grand-parents, aged 85 years or less, and be the beneficiaries. This is an interesting idea because the low interest rates and unpredictable markets since the 1980s have made it difficult to accumulate significant retirement capital. Insuring your parents can be an interesting alternative. Moreover, life insurance is not taxable, unlike RRSPs or RRIFs which are taxable from the first dollar that is taken out.
We believe that most parents or grand-parents would be delighted by the idea of leaving a financial inheritance to their children or grand-children. We have received very convincing testimonials on this matter. Take a look at our testimonial section to find out more!