RRIF Insurance

Life insurance can pay the final tax bill on your registered assets, allowing you to pass the full value of your RSPs and RRIFs to your heirs.

If you're like many Canadians, your RSP has become the major source of asset accumulation during your lifetime. Through the magic of compound interest and tax deferral, your RRSP may become the largest asset you hold.

However, at death, your RRSP or RRIF could be your most significant tax liability; without proper planning, almost half the value of the registered assets in the estate will go to taxes.

This article explains why RRSPs and RRIFs need protection

Upon death, the spousal rollover option enables registered assets to pass tax-free to a surviving spouse. However, on the death of the surviving spouse, the Canada Revenue Agency (CRA) will consider the entire value of the RRSP or RRIF as taxable income. These funds are added to other sources of income earned during the year and will almost certainly push even those who had modest incomes while living, into the maximum tax bracket for their final tax year.

Every Situation is Different

Every individual situation is different and professional advice should be sought before any final decisions are made, but there are some general ideas and techniques that are extremely effective. Rates of return will vary by situation, and are dependent on such factors as age, spouse's age, health and the amount of insurance needed.

Please contact us today for your no-obligation consultation. We look forward to helping you and your family.

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WEALTHinsurance developed from 25 years of experience at illnessPROTECTION.com.

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What Our Clients say

"I was in a major car accident and off work for several months while I recuperated from a broken leg At the time of the accident I didn´t have disability insurance so the impact of the accident had serious financial repercussions as well. Eventually I was able to return to dentistry work but the task of finding insurance with my accident history was difficult.
I have a lot on my plate practicing at our 11 dental centres across the GTA and parenting four children at the same time. When I sought out Mark Halpern´s assistance I knew I had found the right advisor. Mark made the process of getting the right coverage in place easy and seamless for me. I´m sure he had to go the extra mile behind the scenes but Mark never made any mention of it. Since partnering with illnessPROTECTION.com I haven´t had to lift a finger. Mark has saved me a lot of time which has been the best part of working with him. With my busy lifestyle both personally and professionally, time is the most precious commodity of all. Mark understood this immediately and worked hard on my behalf so that I could focus on taking care of my family and business. Thank you Mark!"
Dr. Edward Gelfand
President and Founder
Dawson Dental Centres

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Kimberley Walsh

President
K.Walsh & Associates Travel Services Inc.

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Mark Cohen
President
TouchLogic Corporation

"I've had my share of challenges dealing with insurance companies and different insurance advisors. You came highly recommended and were highly responsive to help us when others were not. Your advice was sincere and recognized our personal circumstances. Your professional advice, knowledge and connections to the key decision makers in the insurance industry, were invaluable in our efforts to get the type of insurance we wanted. We look forward to a long-lasting business relationship."
Lawrence Tepperman

VP Client Solutions
Exchange Solutions Inc.