Life Insurance
Seventeen articles on life insurance in Canada — from how much you need to how each type of policy actually works.
How Much Life Insurance Do I Need? A Needs-Analysis Guide
A plain-language Canadian guide to figuring out how much life insurance you need — the needs-based approach, why rules of thumb fall short, and the four categories to weigh.
Are Life Insurance Payouts Taxable in Canada?
A plain-language Canadian guide to whether life insurance payouts are taxable — the general tax-free rule for death benefits, and the narrow exceptions that can trigger tax.
Corporate-Owned Life Insurance and the Capital Dividend Account
A plain-language Canadian guide to how corporate-owned life insurance and the Capital Dividend Account work — the notional account, the ACB credit, and the tax-free capital dividend.
Funding a Shareholder Agreement with Life Insurance
A plain-language Canadian guide to funding a shareholder (buy-sell) agreement with life insurance — the problem it solves, criss-cross vs. corporate structures, and the tax layer.
Joint Life Insurance in Canada: First-to-Die vs Last-to-Die
A plain-language Canadian guide to joint life insurance — how first-to-die and last-to-die policies work, what they do well, their real limitations, and how they compare to two individual policies.
Key Person Insurance: Protecting Your Business
A plain-language Canadian guide to key person insurance — what it is, why a business needs it, how the corporation owns and receives it, and the tax picture.
Life Insurance and Divorce in Canada: What to Review
A plain-language Canadian guide to life insurance when a relationship ends — beneficiary designations, irrevocable beneficiaries, court-ordered coverage, and why Quebec's rules differ.
Naming a Beneficiary: Individual vs Estate
A plain-language Canadian guide to naming a life insurance beneficiary — naming a person vs your estate, probate and creditor effects, minors, and Quebec's Civil Code rules.
Participating Whole Life vs Universal Life Insurance: A Plain Comparison
A plain-language comparison of participating whole life and universal life insurance in Canada — how each is structured, who bears the investment risk
Renewing a Term Life Policy in Canada: Pitfalls to Avoid
A plain-language Canadian guide to renewing a term life insurance policy — why premiums jump, guaranteed renewability, your four choices at term-end, and the conversion deadline.
Term vs Permanent Life Insurance: How to Choose by Age
A plain-language Canadian guide to choosing between term and permanent life insurance — the core difference, what each does best, and how to match coverage to your stage.
The Life Insurance Contestability Period in Canada Explained
A plain-language Canadian guide to the two-year contestability period in life insurance — what it is, why it exists, what it means for honest applicants, and how to make sure a claim is paid.
The Life Insurance Medical Exam: What to Expect
A plain-language Canadian guide to the life insurance medical exam — why insurers ask for one, what the paramedical visit involves, what's tested, and how to prepare.
Universal Life Insurance in Canada: Premium Flexibility and Investment Options
A plain-language Canadian guide to universal life insurance — how premium flexibility works, the investment-linked account options, the risks, and how it differs from whole life.
Using Life Insurance to Cover Capital Gains Tax at Death
A plain-language Canadian guide to using life insurance to cover the capital gains tax at death — the deemed disposition, why the cottage is exposed, and the forced-sale problem.
Whole Life Cash Surrender Value Explained
A plain-language Canadian guide to whole life cash surrender value — how it differs from cash value, why early values are low, what's guaranteed, surrender as a last resort, and tax.
Whole Life Dividend Options: Understanding Your Participations
A plain-language Canadian guide to the four dividend options on a participating whole life policy — cash, premium reduction, accumulate at interest, and paid-up additions.