Life Insurance – Part of an Estate Plan You Can't Do Without

You've taken the time to build your wealth by carefully planning and selecting investments that have helped you prosper. This type of attention doesn't end during your own lifetime. The same time and care should go into protecting the legacy you leave for your loved ones in the future. Estate planning is a strategy that enables you to plan for tomorrow.

No matter what stage of life you're in, an estate plan can help you simplify the transfer of assets to the next generation and protect your beneficiaries. An effective estate plan that incorporates life insurance can make passing along your assets easier, while minimizing the tax impact on your heirs.

Although it's something no one wants to think about, failing to put your estate in order could cause unnecessary economic hardship to your loved ones. If you don't prepare a proper estate plan, your family could potentially be faced with expenses that could deplete your estate. By incorporating life insurance into your estate plan, you can protect your family from these consequences and preserve the maximum value of your estate for them.

Life Insurance as Part of Your Estate Plan

Life insurance is often overlooked as an investment tool for estate planning. By integrating life insurance into your estate plan, you can choose a customized policy that offers income growth opportunities, insurance coverage and attractive tax advantages. All of these benefits can be passed on to your beneficiaries.

If the policy you select includes an investment portion, it can be tailored to the asset mix and risk tolerance level you are comfortable with. Most appropriate are whole life and universal policies that can permit tax-sheltered growth of capital in certain situations. This may be used any way you see fit: To fund your retirement, pay for a child's education, finance a vacation or to meet any other needs you may have. An Estate Planning Specialist (Financial Security Advisor in Quebec) can help you determine the policy that works best for you.

Insurance Policies

A variety of insurance policies are available to meet your estate planning needs.

• Term Insurance
• Annuities
• Disability Insurance
• Critical Illness
• Universal Life
• Whole Life Insurance

Use our Find An Advisor tool to locate a CIBC Wood Gundy Investment Advisor near you and take the first step to achieving the financial future you want.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.

Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc.