What if we could show you a way to make a significant donation to your favorite charity and have the income tax man pay for the entire amount?
There are 3 ways you can deal with any remaining registered savings upon your death:
- Do nothing. The tax man will take 39% of your registered savings.
- Insure the income tax. Pay the income tax payable with life insurance so your heirs will receive the full value of your registered savings.
- Charitable Giving. Using life insurance proceeds, make a charitable donation equal to the full value of your registered savings. Your heirs receive the full value of your registered savings and the tax man RECEIVES NOTHING!.