Calgary Branch PD Evening | Turning Life Insurance into Financial Magic
This seminar will focus on using Canadian permanent life insurance as a protection tool and a sophisticated tax shelter, particularly for incorporated professionals who wish to insure a key employee. This is a strategy that blends financial security with tax efficiency—a game changer for incorporated professionals.
As an incorporated professional, you likely face two pressing financial priorities: protecting your business against unexpected loss and optimizing your wealth to minimize taxes. This is where permanent life insurance shines. By insuring the company’s key employee—often the business owner—you can achieve multiple objectives: safeguarding your corporation’s financial future, creating a tax-advantaged investment vehicle, and setting up a tax-efficient succession or estate plan.
But the real magic is how this valuable corporate asset can be leveraged to produce tax free retirement income—yes, you heard us correctly—tax free income.
In this seminar, we’ll explore how your corporation can fund a permanent life insurance policy and leverage its unique features to grow wealth, tax-deferred within the policy. We’ll also discuss the tax benefits of the capital dividend account (CDA), which allows life insurance proceeds to flow tax-free to shareholders. You’ll learn how this strategy can provide liquidity for your estate, facilitate wealth transfer, and ensure your business’s longevity.
We’ll guide you through the technical aspects, including policy structure, corporate ownership of the policy, and tax implications, while addressing common misconceptions. Whether you’re new to the concept or looking to refine your financial strategy, this seminar is designed to empower you with practical insights and actionable steps.
About the Presenter
Randy McCord is the founder of National Best Financial Network, an independent life insurance brokerage, headquartered in Calgary. He has been licensed for 17 years and takes pride in training his advisors to provide objective, unbiased advice for protection and investment strategies.
Although National Best provides products and services for all Canadians, Randy has a special niche—incorporated business owners. He is an expert at corporate wealth protection, tax sheltered earnings, tax free retirement income, and tax-free wealth transfer to loved ones.
Strategies include:
• key person/tax shelter
• shared ownership critical illness insurance
• guaranteed disability insurance
• business overhead insurance
• health and dental benefits
He ensures his clients are fully informed before they make any decision. Randy has taught many courses over the years at the University of Calgary (his alma mater), at Mount Royal University, and currently at the Chinook Learning Centre (Investing in Real Estate) for the Calgary Board of Education.
For any questions about this event, please contact [email protected].