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

"When it comes to insurance, Mark Halpern is my 'go-to-guy'. I recommend him highly to any busy person without the time, expertise, or inclination to handle complicated insurance matters for their family or business."
Brian J. Singer, BA MBA
Investment Advisor
Raymond James Ltd.

"I kept hearing the radio ads thinking to myself that I would be silly if I didn't check it out. As a business owner in the auto and equipment leasing business for many years, I realized that if I can't work, my family and I would be in big trouble. So I called Mark and met him in his office. The experience turned out to be exactly what I had hoped for...and more. Mark helped me to see the weaknesses in my planning and got me the right protection programs that I needed for me and my family. I now know that I can go to my office everyday and if anything happens to my health, I will have no worries, which is what it's all about. All I have to do is think about getting healthy and not worrying about the bills. Thanks a million Mark!"
Bob Wilson
President
Bob Wilson Leasing
Auto & Equipment Leasing

"On the frontline of healthcare, I witness what happens everyday to families struck by serious illness or death. It had been a long time since my own planning was comprehensively reviewed so I called Mark knowing he had a lot of experience dealing with other healthcare professionals. He brought to my attention several areas of weakness and risk and helped choose the appropriate programs to protect me and my family. What struck me most was Mark's caring approach and professionalism. I have already started referring him to my colleagues."
Dr. Richard A. Seeley
Chief of Staff, St. Peter's Hospital
Hamilton, ON

"At Growth Equity Partners, we strive to support small to medium sized private and public companies, execute transformational business initiatives. These initiatives include capital raises, acquisitions, construction of new facilities, management buyouts and other transformational events that happen in the life cycle of the company. As experienced professionals, we see our clients as our partners and invest with the same risk and reward profile as the entrepreneurs we work with.
By practicing what I preach, I too retained an expert to help me execute my estate and family plan. In doing so, I turned to Mark Halpern and illnessPROTECTION.com for his expert advice and support. Mark successfully guided me through the process from A through Z and has provided my family with peace of mind. Thanks Mark!"
Ken Sweeney, Partner
Growth Equity Partners