When Should You Cash Out a Universal Life Policy?
Cashing out a universal life insurance policy is usually considered when the original purpose of the policy has changed or the coverage is no longer needed.
June 20, 2026
Cashing out a universal life insurance policy is usually considered when the original purpose of the policy has changed or the coverage is no longer needed.
Whole life insurance may be better for Canadians who want long-term guarantees and stability, as well as predictable estate planning outcomes.
How can I set up a living trust in Canada? Before you set up a living trust (also called inter vivos trust), make sure you’re positive that it’s the right tool for your particular situation.
Estate planning ensures your assets go to the right people, minimizes taxes, and provides clarity for your loved ones. You might wonder whether you need a lawyer, what it will cost, and how to keep the process simple.
The premiums for universal life insurance in Canada can vary significantly depending on your age, health, coverage amount, smoking status, and how the policy is structured.
In Canada, there’s no gift tax, but property gifts can trigger capital gains. Discover how to give generously while minimizing taxes.
Putting a house in a living trust in Canada means transferring legal ownership of the property to a trustee while alive.
An irrevocable trust offers advantages like asset protection, reduced taxes, and avoiding probate.
Gifting a home to your kids in Canada isn’t tax-free. Learn how capital gains tax, the Principal Residence Exemption, and estate planning can impact the transfer.
At what age should you buy universal life insurance? The ideal time to buy universal life insurance is usually in your 30s or 40s, when you are healthy, premiums are lower, and there is more time for the policy to build tax-sheltered growth.