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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
  • Part eight—tips and traps with immediate leveraged insurance