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Take control of your financial destiny with great insights, tips and advice from Senior Financial Planners Rob McClelland and Mike Connon at The McClelland Financial Group of Assante Capital Management Ltd.
Episodes
Thursday Mar 09, 2023
Thursday Mar 09, 2023
Life insurance? honestly, who wants to talk about it? But you might be very surprised to hear some unique ways to use life insurance to your benefit. Senior Financial Advisors Rob McClelland and Mike Connon review the strategies discussed in a recent Globe and Mail article on 10 Creative Uses for Life Insurance by Tim Cesnick.
Key Points from this Episode:
(02:30) 5, 10, and 20-year term insurance and how it works
(03:16) Using life insurance for retirement savings
(05:06) Funding for a specific purpose
(06:35) Insurance to equalize inheritance
(07:42) Paying off debts when you die
(09:30) Covering taxes owing when you die
(10:40) Eliminating taxes on death
(12:21) Donating to charity
(13:07) Funding a buy-sell agreement
(02:30) 5, 10, and 20-year term insurance and how it works
(03:16) Using life insurance for retirement savings
(05:06) Funding for a specific purpose
(06:35) Insurance to equalize inheritance
(07:42) Paying off debts when you die
(09:30) Covering taxes owing when you die
(10:40) Eliminating taxes on death
(12:21) Donating to charity
(13:07) Funding a buy-sell agreement
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