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Taxation of an estate when a person dies can be significant. In some cases the amount of tax owed can be so severe that part or even all of an estate must be liquidated in order to pay the taxes owing. One way to minimize estate taxes is to leverage life insurance. The following describes several methods of doing this. Charitable Donations Changes to federal regulations now allow for charities t...

In a world of way too much tax there still a tax strategy that Canadians should take advantage of. This strategy is to decrease your tax burden, and the tactic is purchasing a life insurance policy that allows for tax deferred growth. Many insurance companies have life insurance contracts that can be used as a tax advantage and an investment tool.

In the last couple of years insurance companies have introduced an insurance product called Long Term Care. This product was created to protect Canadians form the cost of dealing with a loved one if they become ill and are no longer able to do the regular duties of life. These duties include the ability for a person to care for themselves. Most long term care contracts define these functions.