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Life Insurance

Life Insurance

Get The Most Out Of Life

You've attained the good life: Earning a good income, accumulating a sizable portfolio, paying off your liabilities and maximizing your RRSP contributions. Along with your financial success comes increased taxes and the worry of protecting your assets today and in the future. Without proper preparation, the good life you've worked so hard to create could be short-lived.

One solution to decrease the likelihood of this happening is life insurance When many people think of life insurance, they only consider its ability to protect against the unexpected. While this is true, life insurance is a powerful financial tool that can also do double duty as an effective investment vehicle. And it can safeguard your wealth as well as potentially minimizing your taxes.

Protect And Grow Your Assets

Some types of insurance are strictly geared to protecting your assets. However, universal life insurance goes beyond that to offer a savings component along with life insurance and can also be useful for estate planning. Universal life insurance combines permanent life insurance with tax-advantaged investment options in one policy. You can benefit from considerable choice and flexibility in investment selection, premium amount, and death-benefit options. Other advantages include:

  • Tax-sheltered investing and tax-free payout to the beneficiary
  • Investment has the potential to fund the cost of the premium
  • Relatively unrestricted switching of investment options
  • Investments may be withdrawn (subject to taxes) before the death of the policy holder

Let's Work Together

Not all universal life policies are created equal. We partner with all the top insurance companies in Canada to be able to bring you a wide breadth of policies. We can provide the expertise to help you design a universal life policy that is optimally suited to your lifestyle. Your CIBC Wood Gundy Investment Advisor can introduce you to a qualified Estate Planning Specialist (Financial Security Advisor in Quebec). To find out how we can help you, use our Find An Advisor tool to contact a CIBC Wood Gundy Investment Advisor near you.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.

Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc.

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