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[IN THE NEWS] Universal Life Insurance may trump RRSP in some cases

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Can universal life insurance be a retirement savings tool, more effective than the RRSP? In this Advisor.ca article, my colleague Asher Tward offers up his views on when and how life insurance policies can be used to save for retirement:

UL May Trump Life Insurance, In Some Cases”

By: Al Emid for Advisor.ca (March 19, 2010)

“The RRSP may be the most familiar retirement saving strategy, but it might no longer be the automatic choice. The popularity of the RRSP mushroomed when investors had few other tax shelters available, but the financial landscape has changed, and the well-rounded advisor knows there are other options.

Tax-Free Savings Accounts are an obvious tool for generating tax-advantaged retirement income, but other strategies might rely on various insurance products that now offer tax-planning options.

Under certain circumstances, universal life insurance may offer a more effective tax-advantaged strategy than RRSP contributions, suggests Asher Tward, vice-president, estate planning at Toronto-based TriDelta Financial Inc.” READ MORE AT SOURCE…

 

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