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The Seguin team is always looking out for our best interests. They are motivated in earning the...

Jim & Heather Scott

The Greenwood Centre
3200 Deziel Dr. Suite 210
Windsor, ON, N8W 5K8

Phone: (519) 974-6688
Toll Free: +1 866-973-4846
Fax: (519) 974-7192

info@seguinfinancial.com

How Life Insurance can be Used as a Living Benefit

Estate Bond

  • What is it?
    • A tool which increases the value of funds earmarked for your heirs.
       
  • How does it work?
    • Funds have been designated to be passed onto your heirs.
       
    • These funds are deposited into an insurance contract.
       
    • Funds grow on a tax-sheltered basis in addition to the insurance death benefit.
       
    • Upon death, the proceeds are paid out to your designated beneficiary tax free.
       
    • The proceeds, as a result of tax-sheltering are in excess of the amount they would have grown to had they been invested outside the insurance policy.
       

Joint Last to Die

  • What is it?
    • A tool to maximize the value of your estate asset.
       
  • How does it work?
    • An insurance amount is purchased equal to your tax liability.
       
    • Upon second death, insurance pays tax liability.
       
    • Heirs can maintain the assets and are not forced to liquidate the assets to pay taxes (ie. cottage, stocks).
       
    • Insurance cost is lower on two lives vs. one life.
       

Charitable Gifting Life Insurance

  • What is it?
    • An opportunity to provide a donation to a chosen charity and provide tax relief for you either today, or in the future.
       
  • How does it work?
    • An insurance contract is purchased equal to your chosen donation amount.
       
    • Depending on structure, tax credits can be made either annually on the insurance premium or at death on the insurance death benefit.
       
    • Tax credits are used to reduce taxes paid.
       
    • Upon death of the insured, insurance proceeds are paid to the charity named as the beneficiary.

 

Insured Retirement Program

  • What is it?
    • A tax-effective way to provide a future income stream.
       
  • How does it work?
    • Deposits are made to an insurance contract.
       
    • Funds grow on a tax-sheltered basis.
       
    • Contract is assigned to the bank in exchange for advances.
       
    • Loan advances provide tax-free income.
       
    • Upon death, the loan is paid with tax-free proceeds.
       
    • Net insurance proceeds are then paid to named beneficiary.

 

Pension Maximizer

  • What is it?
    • A tool to maximize the value of your pension for both you and your spouse.
       
  • How does it work?
    • A 100% pension option is chosen our of your pension plan.
       
    • An insurance contract is purchased on the pensioner.
       
    • Pension income is maximized.
       
    • Insurance proceeds provide larger survivor pension.
       
    • Heirs receive the residual of the proceeds after death of second spouse, and therefore do not get excluded from pension proceeds.

 

RRIF Insurance

  • What is it?
    • A tool to maximize the value of your registered assets left in your estate.
       
  • How does it work?
    • Upon death of last spouse, Revenue Canada is entitled to tax on your registered assets.
       
    • An insurance policy is purchased for an amount equal to your tax liability.
       
    • Insurance is on a Joint Last to Die basis for cost effectiveness.
       
    • Upon second death, the insurance pays out your tax liability.
       
    • Because the insurance costs less than your liability, more assets are left in your estate for your heirs.

Mutual funds are offered through Manulife Securities Investment Services Inc. Insurance products and services are offered through Seguin Financial Group Ltd. Seguin Financial Group is a trade name used for both mutual fund & Insurance business activities. Banking products and services are offered through referral.

info@seguinfinancial.com