For many advisors, one of the most frustrating experiences is a potential client being denied insurance. Twenty years ago this wasn’t as big a problem — height and weight tables, blood tests and other measures used by underwriters were more forgiving, and reinsurance was used much less predominantly than it is now. Many borderline cases […]
There are two sides to every story, and that includes RRSPs. On one hand, they help Canadians save by providing incentives for tax-free growth, tax deductions for contributions to personal RRSPs, and matching programs provided by employer-designed group RRSPs and pension plans. On the other hand, any unplanned withdrawal from registered plans must be fully […]
One of the most common client concerns is how to find money to fund advisors’ insurance recommendations. In previous columns, I examined two strategies to help clients in the medium- to high-net-worth market overcome this anxiety. In this column, I’ll explore how we can use guaranteed or fixed interest income to create tax strategies to […]
(December 2007) The tax-sheltered growth of your client’s hard-earned dollars has long been one of the key benefits of permanent insurance products. The ability to offer similar investment vehicles to other open investments in a “self-directed” type plan (universal life) or a professionally managed balanced portfolio with low volatility (whole life) is an approach that […]
(October 2007) With low interest rates come difficult decisions, especially for people whose money is in GICs or bonds. In order to make it through retirement with these investment products clients will either have to get aggressive with their investments or dramatically change their lifestyle. But two relatively simple products — term-to-100-based life contracts and […]
(September 2007) In recent years, there has been a significant increase in large, often multi-million dollar donations benefiting universities, health centres and other important institutions. For many, donating the big bucks is great place to put extra cash, but it also provides an opportunity to reinvest substantial tax saving. One area where insurance advisors like […]