WHY IS
LES MACHAN SR.
CONCERNED?
LIFE INSURANCE POLICIES
Life insurance policies, as well as providing protection, often have a savings or investment component. The income that a life insurance policy earns is not subject to tax on a current basis if the policy is an “exempt policy”. Furthermore, the income is not taxed when received as a component of a death benefit. This provides an opportunity for taxpayers to avoid taxes using a life insurance policy as an investment vehicle.
There will be consultations to review the rules concerning the tax status of ife
FOR MORE INFORMATION PLEASE CONTACT
ROBIN BEHAR, MBA
Financial Health Advisor
514-739-8157