life-insurance

This series on tax and insurance is written by Kevin Wark, managing partner at Integrated Estate Solutions in Toronto.

Topics are as follows:

  • Part one—general tax attributes of life insurance
  • Part two—transactions resulting in a policy disposition, and how the proceeds and policy gain are determined
  • Part three—adjusted cost basis (ACB) of an insurance policy and how it’s determined
  • Part four—how the net cost of pure insurance (NCPI) is calculated, and its impact on an insurance policy’s ACB and the collateral insurance deduction
  • Part five—collateral insurance deduction, including when it can be claimed and how it’s determined
  • Part six—how life insurance cash values can be accessed by a policyholder through a policy loan
  • Part seven—specific transactions involving policy loans and their tax treatments

Originally published on Advisor.ca
Add a comment

Have your say on this topic! Comments are moderated and may be edited or removed by
site admin as per our Comment Policy. Thanks!