VIEWPOINT LIBRARY

Finance Minister Morneau announced in July tax changes aimed at eliminating significant private corporation tax benefits currently available in the Income Tax Act. None of these measures directly affect the taxation of our clients’ life insurance policies or interest deductibility on loans secured by their life insurance policies, but they may affect the structure of their life insurance planning.  This Viewpoint summarizes the proposed measures. En francais.

Westward supports CALU's efforts to obtain tax incentives for Canadians to become more self-sufficient with respect to their long-term health care needs through the purchase of long-term care insurance. Read CALU's pre-budget submission to the Commons Standing Committee on Finance. 

An update on the financial strength of Canadian insurance companies to Q3 2017 as assessed by trusted statistical rating organizations. This Viewpoint provides current ratings of major Canadian insurers by A.M. Best, Moody's and Standard & Poor's and indicates any change in status.

An update on the financial strength of U.S. insurance companies to Q3 2017 as assessed by trusted statistical rating organizations. This Viewpoint provides current ratings of major U.S. insurers by A.M. Best, Moody's and Standard & Poor's and indicates any change in status.

How and why a professional executor ensures that the process is handled smoothly and in exact accordance with your wishes. 

Insurance needs to become more flexible to keep up with trends in clients’ lives. James A. Burton explores the possibilities. This article which originally appeared in FORUM magazine discusses the next generation of flexible "hybrid" life insurance products.

An overview of why the Tax Court decision involving leveraged life insurance is unique.
En francais.

New rules affecting the taxation of life insurance begin January 1, 2017. This Viewpoint lists the latest deadlines for submitting new applications or changes to existing policies so that the requests can be processed before the new rules come into effect.

Outlines the key changes to Industrial Alliance's insurance products and why we recommend clients apply for a policy before the October 14, 2016 deadline.

Change Is Coming

2016 AUG 05

The new exempt-test rules take effect in 2017. PPI's John McKay explains some prudent
insurance-planning strategies to implement while there’s still time. Reprinted from Forum magazine.

The March 22, 2016 Federal Budget does not make any changes to the overall tax policy of the Income Tax Act in respect of life insurance. The Income Tax Act continues to encourage Canadians to acquire life insurance for long-term financial security by supporting tax exempt accumulation of policy cash values. This Viewpoint reviews two long anticipated technical changes to the taxation of life insurance that are included in Budget 2016. En francais.

Alberta’s newly elected NDP government passed its first budget since coming to power last spring and moving forward with tax hikes on personal income and life insurance premiums. This Viewpoint discusses the tax changes of most significance to estate planning with life insurance in Alberta, and how ongoing plan management delivered through our Performance Optimizer service keeps plans for our Alberta clients on course.

Outlines the regulatory structure in place to protect the benefits of life insurance policies for policyholders and their beneficiaries in the rare event of the failure of an insurer.
En francais.

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