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Real Tax News You Can Use with Evelyn Jacks
Insurance Planning: New Risks, New Wants, New Directions
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What role does life insurance have in your life and what role should it have? Almost half of Canadians – 42% - don’t have it or are not sure if they do, according to a 2025 survey by PolicyMe and Angus Reid. More significantly, 49% have no plans to purchase any in the next five years. The key reason is affordability: one in three Canadians without coverage (34%) say it’s too expensive, that goes up to 42% among households with children. But lots more don’t think they need it.
They don’t understand that life insurance benefits are completely tax exempt and can really shore up an estate, especially if the deceased is young and leaves young children.
In a world in which people live paycheque to paycheque, 25% of Canadians aren’t confident their families would be financially secure if they passed away unexpectedly – a huge lack of confidence and peace of mind. The consequences of not having life insurance can be staggering: the loss of the family home, relocation for the family and in severe cases, bankruptcy. At a minimum there would be significant financial trauma.
There are Canadians who don’t need any more insurance but want it as part of their estate planning. . . perhaps to help these young families out?
We’ll find out more now.
Daniel Dessureault, is a prolific academic who holds the ASA, CEA, CLU®, CFP®, RWM™, MFA-P™ designations. As a senior member of the PPI Advisory Sales organization, Daniel is responsible for overall sales growth and development in the High Net-Worth market. He manages key Advisor relationships offering tailored, advanced sales support on complex cases and with innovative tools, all to help Advisors develop and grow their practice. Daniel has more than twenty-five years of experience in the insurance and financial services industry in the areas of marketing, national sales and distribution management including senior management roles with some of Canada's largest insurance organizations.
Melanie Zimmerman, CPA, CA, TEP, is Vice President, Advisory Planning Services at PPI where she supports advisors on estate and tax planning matters and the delivery of advisor educational sessions. She also maintains PPI’s extensive library of tax and estate planning educational material, including the Professional Resource Centre and the Advisor’s Guide to Life Insurance Taxation, which provide up-to-date and in-depth information for advisors involved in advanced planning.
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