Ottawa Investment Advisor John Bruce

Why You Don’t Need Permanent Life Insurance

June 16, 2010 · Print This Article

In same cases, there is a need for cash in an estate at death whenever that might occur and permanent life insurance of some type (although costly) can be the most effective way to ensure that the funds are available at the very time that they are needed. For example, a joint second to die insurance policy for a couple may provide cash to pay income taxes due on registered funds (Registered fund balances are fully taxable on the second death of two spouses) and capital gains taxes on the second death of two spouses (on the gain in the value of the family cottage, for example).

All other insurance needs are relatively short term (cover family needs for spouse and young children, pay off mortgage, etc.). Term life insurance provides a large amount of coverage for the family at a very low and attractive cost. Term life is pure life insurance where you pay an annual or monthly premium to receive a decided amount of coverage. It is available in 10 and 20 year terms and life-time, renewable to age 80 and convertible to age 65. Initial and renewal premiums are guaranteed at issue.

Mackie Research Capital Corporation (MRCC) makes no representations whatsoever about any other website which you may access through this one. When you access a non-MRCC website please understand that it is independent from MRCC and that MRCC has no control over the content on that website. The content, accuracy, opinions expressed, and other links provided by these resources are not investigated, verified, monitored, or endorsed by MRCC.

John S. Bruce
Ottawa Investment Advisor
Also licensed in ON, BC, AB, QC, NS
Mackie Research Capital
Direct Line- 613-425-3732
Toll Free- 866-860-4190

The opinions, estimates and projections contained herein are those of the author as of the date hereof and are subject to change without notice and may not reflect those of Mackie Research Capital Corporation (“MRCC”). The information and opinions contained herein have been compiled and derived from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. Neither the author nor MRCC accepts liability whatsoever for any loss arising from any use of this report or its contents. Information may be available to MRCC which is not reflected herein. This report is not to be construed as an offer to sell or a solicitation for an offer to buy any securities. Member-Canadian Investor Protection Fund / member-fonds canadien de protection des ├ępargnants.

Mackie Research Capital Corporation (MRCC) makes no representations whatsoever about any other website which you may access through this one. When you access a non-MRCC website please understand that it is independent from MRCC and that MRCC has no control over the content on that website. The content, accuracy, opinions expressed, and other links provided by these resources are not investigated, verified, monitored, or endorsed by MRCC.

Comments

Comments are closed.

Copyright © 2018 · Ottawa Investment Advisor John Bruce · All rights reserved · Mackie Research