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Let’s face it, life insurance does not have the “sex appeal” of other types of financial products available to high-net-worth (HNW) individuals. But most wealthy individuals and business owners have purchased life insurance for the significant benefits these products provide to their overall financial and estate position. Here are three scenarios that show how insurance […]

  • September 15, 2009 June 16, 2018
  • 10:01

The Canada Revenue Agency (CRA) announced last year that it would be reviewing leveraged insurance arrangements, commonly referred to as “10/8 programs.” This review is supposed to be part of a broader audit project relating to insurance company policyholder tax compliance. Insurance leverage programs typically comprise the following characteristics: 1. An individual or corporation acquires […]

  • June 1, 2009 June 16, 2018
  • 09:00

The Canada Revenue Agency (CRA) announced last year that it would be reviewing leveraged insurance arrangements, commonly referred to as “10/8 programs.” This review is supposed to be part of a broader audit project relating to insurance company policyholder tax compliance. Insurance leverage programs typically comprise the following characteristics: 1. An individual or corporation acquires […]

  • April 29, 2009 June 16, 2018
  • 00:00

Much has been written about the Canada Revenue Agency’s plans to review leveraged insurance arrangements, also known as 10/8 programs. These programs typically have the following characteristics: An individual acquires an “exempt” insurance policy to fund estate or succession liquidity needs. In addition to the cost of insurance charges, the policyholder makes additional deposits into […]

  • February 23, 2009 June 16, 2018
  • 09:38