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Prepare for retirement

Prepare for retirement

Set up an Individual Pension Plan

An RRSP is a great retirement-planning strategy for many people. For business owners or senior managers whose income requires a greater income tax deferment strategy, however, an Individual Pension Plan (IPP) may be an even better option.

What is an IPP?

An IPP is a defined benefit pension plan designed for one person. As opposed to an RRSP where the amount of annual contributions is pre-determined, in this case it’s the benefit payable at retirement that is determined in advance.

Find out more about the IPP

Protect your wealth with non-taxable investments

Are you looking for a tax-sheltered investment? Would you like to increase the value of your estate upon your death?

Universal Life insurance is an attractive solution that combines both life insurance and savings. You take out life insurance for a set amount and accumulate funds on a tax-exempt basis. Upon your death, the life insurance benefit and accumulated savings are payable to your beneficiaries tax-free.

Savings

  • Diversified tax-free investment options.
  • Invest in keeping with your investor profile.

Universal Life insurance makes available to you a variety of diversified investment options (daily interest, fixed-rate, market-linked investment or fund) in keeping with your investor profile. You can continue investing on a tax-free basis even if you’ve maxed out your RRSPs.

Funds may with withdrawn at any time

Ready to launch the projects you’ve been dreaming about? You can withdraw any or all of your accumulated savings at any time, with no surrender fees. Under certain conditions, you can withdraw your savings without being subject to income taxes with the Health Withdrawal Option.

Health Withdrawal Option

In the event of disability, critical illness, surgery or loss of independence, you may withdraw your savings without having to pay income taxes or surrender fees.

Insurance

  • Your beneficiaries receive a tax-free, lump sum benefit.
  • Allows you to increase the value of your estate upon death.

Insurance premiums are paid automatically from the interest earned on your investments. Upon your death, the benefit is paid to your beneficiaries tax-free, allowing you to:

  • leave to your heirs the full value of your estate
  • give your heirs a hand in paying the capital gains tax on inherited assets (i.e., land, cottage, secondary residence, rental property, fine art, stocks) and your RRSPs
  • ensures the quality of life of your loved ones
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