Wealth Transfer Strategy Because family is what its

Wealth Transfer Strategy Because family is what its

Wealth Transfer Strategy Because family is what its all about Director, Insurance Sales Wealth Transfer Strategy Typically You build up your savings by investing in taxable investments Upon death, these investments are passed on to your heirs But there is an alternative to consider ... 2

Wealth Transfer Strategy What is Wealth Transfer Strategy? A financial planning strategy that uses a permanent life insurance policy to transfer wealth to your heirs tax effectively and provide control of this wealth until transfer. 3 Wealth Transfer Strategy How does Wealth Transfer Strategy work? Funds earmarked for your child or grandchild are deposited in an

exempt life insurance policy Your child or grandchild is the life insured Funds in excess of insurance charges grow in a tax-advantaged environment Ownership of the policy is transferred to your child or grandchild at a point in the future If structured properly, no tax will arise on transfer As the new policy owner, your child or grandchild can access the cash value of the policy and any policy gains will be taxable to your child or grandchild

4 Wealth Transfer Strategy What does Wealth Transfer Strategy offer? Life insurance protection on the life of your child or grandchild Tax-advantaged growth of cash value Tax-free death benefit The ability to transfer ownership of the policy to your child or grandchild in the future on a tax-free basis

After transfer, your child or grandchild can access the cash value as required If the cash value is accessed through policy withdrawals, any tax owing is taxable to your child or grandchild, not you 5 Wealth Transfer Strategy What does Wealth Transfer Strategy offer?

Life insurance protection on the life of your child or grandchild Tax-advantaged growth of cash value Tax-free death benefit The ability to transfer ownership of the policy to your child or grandchild in the future on a tax-free basis After transfer, your child or grandchild can access the cash valueas required If the cash value is accessed through policy withdrawals, any tax owing is taxable to your child or grandchild, not you 6

Wealth Transfer Strategy Wealth Transfer Strategy is ideally suited for people who ... Have accumulated wealth in excess of what is needed for their lifestyle Intend to transfer a portion of this wealth to their heirs during their lifetime Are comfortable with life insurance

protection on the life of their child or grandchild Are looking for an opportunity to transfer wealth in a tax effective manner 7 Wealth Transfer Strategy Requirements for the transfer of ownership to qualify for tax-free rollover: The life insured must be your child or grandchild When the transfer of ownership occurs you can not receive

anything of value for the gift There can only be one life insured under the policy at the time of transfer The transfer of ownership will not be pursuant to your will 8 Wealth Transfer Strategy Requirements for the transfer of ownership to qualify for tax-free rollover: The life insured must be your child or grandchild When the transfer of ownership occurs you can not receive

anything of value for the gift There can only be one life insured under the policy at the time of transfer The transfer of ownership will not be pursuant to your will 9 Wealth Transfer Strategy ... because family is what it's all about 10

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