For a client who wants to preserve and transfer his or her wealth to two successive generations, a tax efficient option may be a permanent life insurance policy.
In this concept ,a client purchases a permanent life insurance policy on his or her child, or grandchild, and names one or more children or grandchildren as the beneficiaries-the wealth can then transfer from one generation to the next.
Permanent life insurance can help clients leave more for their future generations by providing:
Tax advantaged growth inside the policy
Access to cash value inside the policy
Ability to transfer ownership of the policy, including its cash values, on a tax free basis
A death benefit to the beneficiary
Designed for individuals who:
Have accumulated more wealth then they will use in their lifetime
Want to help maximize and help share a legacy
May or received a significant inheritance, death benefit or windfall
Want to help their families financially
Nicola Burton, B. Comm., CFP
Business Development Manager
NOT YOUR TYPICAL MGA™
Qualified Financial Services Inc.