A company can own and be the beneficiary of life insurance. There are many reasons that a corporation might own life insurance: key person, loan security, buy/sell arrangements, shareholder protection.
In addition, we often use insurance in the holding or investment companies of business owners to achieve personal goals such as supplementing their retirement income, providing efficient funding for their business expansion, and the payment of capital gains taxes owing upon death.Over the past three decades, the Canadian insurance marketplace has changed dramatically.
In addition, we often use insurance in the holding or investment companies of business owners to achieve personal goals such as supplementing their retirement income, providing efficient funding for their business expansion, and the payment of capital gains taxes owing upon death.Over the past three decades, the Canadian insurance marketplace has changed dramatically.
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If paying less tax, promoting your wealth, and preserving your estateis your goal, talk to Adnan Parwez, Executive Benefits Advisor at Parwez Financial Group in Regina. Business Owners, Farm Owners, and Professionals can pay less tax, increase their tax-sheltered assets, and preserve more of their sweat equity for themselves and their families when they take advantage of the planning and products that are used to accumulate wealth.
We take pride in designing and providing unique, innovative and tax-efficient insurance solutions for our clients in collaboration with their legal and tax advisors. Our focus is strictly on the analysis, audit and implementation of appropriate strategies involving risk-management products from top-rated insurance carriers in Canada for our client's personal and corporate needs.
We are pleased to be associated with these strategic partners. These professionals are an extension of our team at Parwez Financial Group, who work with us to ensure our clients' needs are best met. Dwayne M. Anderson began his career at one of Saskatchewan's leading law firms before founding Anderson Law Firm Prof. Corp. in 2000.
Insurance is often thought of as an optional extra in the area of personal and business finance - a "nice to have" which can offer protection if things go wrong but certainly not as an important asset in its own right. However, it's true to say that clever insurance planning is a strategy which can protect the vital asset of your ability to earn an income - perhaps the most important asset that you have.
A life insurance policy is a means by which to safeguard the financial interests of your family in the event of your death. Usually the policy offers a cash sum, which is paid tax free, to your dependents or named beneficiaries on the policy which can help them with costs such as outstanding debts or funeral costs, as well as enabling them to maintain their standard of living if you die.
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David A. Fortier
Oct 28, 2019
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