illnessPROTECTION.com™ - Canada's Leading Life Insurance Advisors
"Protect your RRIF
from the tax department"
 Mark Halpern,CFP
Top Advisor in Canada

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.


illnessPROTECTION.com™ - Canada's Leading Life Insurance Advisors

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"In my dealings with Mark Halpern over the last 12 years, I have found him to be exceptionally ethical, reliable and client-centered. He has expert knowledge and experience in the insurance industry an... " Read more
Daniel Sacke B.COMM CFP CSA
Vice President
BMO Nesbitt Burns Inc.
www.thesackegroup.com
"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 fami... " Read more
Brian J. Singer, BA MBA
Investment Advisor
Raymond James Ltd.
"I have known Mark for about 10 years. He is entirely honest and trustworthy, and exceptionally knowledgeable about insurance and money management. On top of that, he is one of the most personable peop... " Read more
Aaron Mitnick
Lawyer
Botnick Legal Services