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Tax-Efficient Permanent Life Insurance

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How do I integrate life insurance into my financial plan?

Integrating appropriate life insurance strategies into your overall financial plan is a powerful way to build, protect and share your wealth.

Life insurance policies can help build your wealth through various tax advantages and income strategies, whether you own them personally or in a professional corporation. In the event of an unexpected illness or disability, they can supplement existing living benefit payments. And in the event of premature death, they can provide much needed funds immediately to protect your family’s standard of living.

Tax-efficient permanent life insurance policies can help you preserve your estate for the benefit of your family members. They can ensure a tax-efficient, family-friendly and intergenerational transfer of estate assets, such as your home, cottage, real estate holdings or business. They can also help you generate tax-free death benefit payments and leave a legacy through the support, in your name, of charitable causes that are important to you.

Whole life versus universal life insurance

There are two types of permanent life insurance: whole life and universal life. MD Financial Management makes both of these products available through representatives of the MD Insurance Agency.

Whole life Universal life
Period of coverage Life Life
Death benefit Tax-free Tax-free
Investment management Managed by the insurer The insured person selects the investment options held within the policy—interest-bearing, market-linked or index-linked investments
Earnings and growth Tax advantaged Tax advantaged

Use permanent life insurance to build wealth. Contact an MD advisor.