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

"My busy practice and family life leaves precious little time to deal with our insurance matters; and it's not my area of expertise. Mark Halpern created a program that's protecting me and my family. He really cares. You will be working with the best."
Dr. Edward (Ted) English M.D. B.A. F.R.C.S.C.
Chief of Orthopedic Surgery
Medical Director of Orthopedic and Rehabilitation Medicine
The Scarborough Hospital

"I had been declined for life insurance over several years and had pretty much given up. Then I heard Mark's radio ads, went to the website and read the testimonials from significant business owners and professionals who apparently had similar challenges, yet Mark got them the protection they needed. After meeting Mark I felt confident that if he could not do it, nobody could. He put me in touch with a top medical doctor for a complete work up and tests. Several months after completion, we submitted an application into the largest insurance company in Canada and I was thrilled to be offered the life insurance and critical illness insurance that I wanted. I meet people all the time who promise big and don't deliver. It is rare to meet someone as competent as Mark who is a man of his word from day one. I trust him completely and appreciate his professionalism and hard work. I have already started referring him to my family, friends and clients."
R.S.
Merchant Banker

"I have known Mark for about 10 years. He is entirely honest and trustworthy, and exceptionally knowledgeable about insurance and money management. On top of that, he is one of the most personable people I know and gives you all the time you need to discuss issues of concern. I highly recommend his services."
Aaron Mitnick
Lawyer
Botnick Legal Services

"I contacted Mark after hearing his radio ads. Running a family business takes a lot of time, and relationships are the key to our success. What impressed me most about Mark was his knowledge and ability to explain things so clearly. Having worked with banks and investment companies, the experience with Mark was not at all the same. He was NOT interested in selling me any products or concepts; he was interested only in what worked for me. This made him very easy to talk to and we successfully completed our business together. I look forward to a long and rewarding relationship. Thanks Mark!"
Daniel Violante, MBA
Director Sales & Marketing
Excelsior Foods Inc.