Article series: Tax and 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
• Part eight—tips and traps with immediate leveraged insurance

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.