Tag Archives: Buy Life Insurance
Life Insurance for Scuba Divers
Canada is known for its largest fresh water lakes in the world which makes it a place or destination to enjoy scuba diving. Many Scuba Divers go to Canada to enjoy this adventurous thing to do. Scuba Diving is known to be exciting more than ever now that you don’t have to rely on a breath hold or air pumped from the surface. It is now a lot safer and a free way to scuba dive by carrying your own air source in a tank. This allows divers to move freely under water more than that with an airline.
Scuba Diving is an adventurous thing to do without any doubt but with the adventurous things comes the risk of injury or dealth.
Grandparents Insuring Their Grandchildren
Life Insurance for Grandchildren
We all know how much grandparents love their grandchildren. Grandparents love their grandchildren, and they absolutely love being able to care for them. A number of grandparents are considering the financial futures of their grandchildren. This is especially the case if the parents are not in the best financial situation. A number of grandparents have considered life insurance for a grandchild to make sure that their grandchildren are protected financially. While life insurance for a grandchild is nothing new, the concept of grandparents taking out life insurance policies on their grandchildren may be something that more individuals will consider. With many grandparents in their senior years, a number of them may have the resources to assist their grandchildren.
Taxation of Life Insurance
How is Life Insurance Taxed?
Life insurance can be divided into two types: term and permanent. Term insurance has no investment component and pays out a tax-free death benefit. Generally universal life or whole-life is designed to last throughout your life time. It often has an investment component allowing you to build up cash values inside the policy in a tax-sheltered manner.
The laws regarding the taxation of life insurance in Canada are anything but straight forward and can be a complex topic; the best possible advice will come from a tax professional that can assess your own individual circumstances. The subject of taxes and life insurance are basically broken down into two main areas; the payments that are made at death,
