Thinking About Retirement?
Balancing your retirement needs
What does retirement mean to you?
- Working part time?
- Volunteering with a favourite charity?
- Spending more time with grandchildren?
- Starting a new hobby?
Whether you’re thinking about retiring or already in retirement, life insurance can help you balance your personal goals with the need to protect the ones you love.
Leave a legacy for your heirs or favourite charity
The largest burden on your estate can be the taxes on your capital assets when you die. Some types of life insurance allow for tax-advantaged growth within the life insurance policy while you’re alive, which can then transfer tax-free to your beneficiaries upon your death.
Maximize your after-tax retirement income
Many permanent life insurance policies accumulate cash value within the policy. If the accumulation stays within prescribed legislative limits, this cash value isn’t subject to income tax until it’s withdrawn from the life insurance policy, accessed through a policy loan or if the policy ownership is transferred.
Permanent life insurance may provide a tax-effective way to support you and your spouse in retirement and transfer your assets to your heirs at your death.
Whether you’re thinking about your retirement plans or are already in retirement, take the time to look at your options—contact your financial advisor about the coverage that suits your needs.
Need a financial advisor?
To help ensure you have a proper financial plan, contact a regional marketing centre near you.
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