Cutting Through Life Insurance Chaos in Canada

Transfer a life insurance policy to a lender as collateral for a loan with this Assignment of Life Insurance Policy form.

• The lender has the sole right to collect any proceeds payable under the policy.
• The lender is at liberty to surrender the policy and receive any distributions, dividends or surplus.
• The assignor retains the right to collect disability benefits, designate or change beneficiaries, and elect for optional settlement.
• The Assignment of Life Insurance Policy form is a generic legal template that makes no specific references to the laws of any country.

This in-depth article describes a variety of offshore structures available to residents of Canada, for the purpose of asset protection. In particular, opportunities in the Bahamas are discussed.

The article provides a variety of information, including:

• a summary of how each structure is established,
• the purposes, advantages and disadvantages of each type of structure,
• international business corporations,
• settlement trusts,
• international foundations,
• universal life insurance,
• international deferred compensation programs,
• income stabilization plans,
• individual and corporate funding methods.

Establishing an Offshore Structure for Canadians is intended for residents of Canada, and is provided in Adobe PDF format.

Would you like to retire early? Of course you would! Learn how to plan for an early and financially secure retirement with this 17-page seminar developed by McClure Financial Services Ltd. Topics include:

• sources of income, and income options,
• inflation indexing,
• pension benefits,
• personal life insurance,
• group RRSPs,
• inflation-proof income deficiency analysis,
• how to determine whether you have sufficient funds to meet your monthly needs.

Retirement Planning in Canada: Retiring at the Age You Want and the Income You Want is copyright by the author. This is a Canadian retirement planning guide, and makes reference to the Income Tax Act (Canada).

Add this clause to a Will made in Canada to direct how life insurance proceeds are to be distributed.

• The testator (person making the Will) declares that the proceeds of life insurance policies, except for RRSPs, are to form part of the estate and be paid to the beneficiaries as such.
• This clause is intended to be considered a declaration within the meaning of the Insurance Act (Canada).
• This Canada Will Clause re Insurance Proceeds is a downloadable form in MS Word format.