It\u2019s a quiet, snowy night in December. The lights of the new tree are reflected in your husband\u2019s glasses as he creates one of his famous desserts in the kitchen. You\u2019ve got your feet up, a small glass of red wine in one hand, a magazine in the other. Your youngest child is busy with his iPad, the other one is locked away in her room. Teenagers, right?<\/p>\n
That\u2019s ok. Everyone helped with the tree, they can do their own thing and you can do yours.\u00a0<\/span><\/p>\n Everything is in its place, the holidays are still a few weeks away, and you can relax and rest easy. Peace of mind is an important thing, right?<\/span>\u00a0<\/span><\/p>\n Alright, you can probably see where this is going. This blog focusses on life insurance and investments after all. Every parent wants to know their family will be provided for if something tragic should happen. That\u2019s the obvious benefit of permanent life insurance \u2013 paying off debts such as loans and taxes in the event of a policy holder\u2019s death, corporate liability situations, and estate planning circumstances.<\/span><\/p>\n However, while you\u2019re relaxing with the knowledge everything is taken care of, there\u2019s a couple hidden benefits of permanent life insurance policies you should know about.\u00a0<\/span><\/p>\n Benefits you can enjoy while you\u2019re still around.\u00a0<\/span><\/p>\n The simplest hidden benefit of a permanent life insurance policy is the ability to grow your funds\u00a0<\/span>at competitive rates\u00a0<\/span>without any tax implications. Tax-free growth is pretty popular for obvious reasons, right? Right. The last thing anyone wants\u00a0<\/span>is to invest at a<\/span>\u00a0limited rate of growth<\/span>\u00a0with tax consequences\u2026oh wait, that\u2019s a bank GIC!<\/span>\u00a0You want to know, as you take a sip of your wine, that everything you\u2019re setting aside will be\u00a0<\/span>growing tax efficiently for you and your beneficiaries<\/span>.<\/span><\/li>\n And once those beneficiaries are ready to inherit funds from that\u00a0<\/span>insurance\u00a0<\/span>policy? It\u2019s important that this step\u00a0<\/span>be<\/span>\u00a0as seamless as possible.\u00a0<\/span>Life<\/span>\u00a0insurance policies can be structured to not only accumulate tax free growth, they can also be built to transfer to your beneficiaries without\u00a0<\/span>any probate or income\u00a0<\/span>tax as well. Unfortunately for many families, they discover much too late that their inheritance comes with a much larger cost than they were prepared for.<\/span><\/li>\n With certain life insurance products you can\u00a0<\/span>also gain access to the\u00a0<\/span>accumulated cash\u00a0<\/span>values within the life insurance policy to use during your lifetime.\u00a0 In other words, permanent life insurance is not\u00a0<\/span>used strictly as<\/span>\u00a0life<\/span>\u00a0protection<\/span>\u00a0only<\/span>. When you choose to invest your money in a permanent life insurance policy, the entire purpose is to\u00a0<\/span>make a<\/span>\u00a0reasonable return\u00a0<\/span>on your investment and cover your risks<\/span>. So as you look at your youngest on his iPad, content his distant future is provided for, you can also consider the option of withdrawing funds against your policy to pay for your oldest\u2019s university tuition in the not-too-distant future. \u201cAn investment in an insurance vehicle should ideally be viewed as a \u2018security.\u2019\u201d<\/span><\/p>\n\n
\nTax free growth<\/b><\/span><\/h3>\n
\nTax Free Transition to Beneficiaries<\/b><\/span><\/h3>\n
\nUsing Funds During Your Lifetime<\/b><\/span><\/h3>\n
\n<\/span><\/li>\n<\/ol>\nYour Life\u2019s Security<\/b><\/span>\u00a0<\/span><\/h3>\n