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.

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.

WEALTHinsurance.com®

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 became aware of critical illness insurance this year and over the last number of months have investigated it for me and my family. I met with several agents. I had heard Mark's advertising on 680News and The Fan 590 and arranged a meeting in my office. I was very impressed with Mark and his knowledge of the policies that are available in the marketplace. Mark took the time to 'crash test' my life and provide me with some important recommendations that I was unaware of. He got my business. I have since referred Mark to the partners in my firm and recommend him highly to all busy professionals. "
Brett J. Tkatch
Partner
Blaney McMurtry LLP

"My business is preparing Canadian Chartered Accountants to pass the American CPA exams. This requires providing candidates with an organized program and the necessary tools to be successful. Mark Halpern organized my estate planning and provided me with the advice necessary to properly protect my family. He educated me as to exactly what my young family's needs were. Mark worked closely with me to ensure that all of the necessary decisions were made on a timely basis. The process was very efficient. I highly recommend Mark to busy professionals who want one-stop shopping for all of their estate planning needs."
Aubrey Glazman, CA, LLB, MBA, CPA, ABV, CBV, CFE
President
U.S. CPA Success

"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