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

"It was a pleasure working with Mark. He was extremely professional and had a definite interest in the well being of my family, and protecting us against unforeseen harm. Mark took the time to work with me on various options, and we achieved the right protection for my family."
Grant Cansfield

Partner
Aird and Berlis LLP

"When it comes to insurance, for you or your business, Mark Halpern is the first and last person to call. He's looked after insurance matters for me and my family members in a professional and caring way for many years and hopefully for many more years to come. He is a real professional. "
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President
Promovision Marketing

"I heard Mark on the radio every day commuting to work and finally made the time to call him. It was a good thing that I did. I'm extremely busy looking after my clients and my growing family. I rarely take the time to deal with the important issues that Mark brought to my attention. Mark showed me what I needed and helped to put those important things into place using a comprehensive process. He was knowledgeable, sincere, trustworthy and passionate about helping me. Now that I have things in place, I feel much more secure knowing that if disaster should strike, I have done my best for my family. I recommend Mark very highly."
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Chief Administrative Officer
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