Universal Life - How to Get Tax-Free Income

Author: Ivon T. Hughes

To retire comfortably, you need investments which provide appropriate amounts of wealth appreciation and capital preservation to help ensure you have the financial resources available to you to do the things you want.

For most of us high taxes and contribution rules on registered retirement savings and pension plans prevent us from maximizing our wealth appreciation. To do so you need an investment vehicle that provides tax-efficient wealth accumulation: an investment vehicle such as universal life.

Universal life is a combination of a tax-efficient investment vehicle and life insurance that you customize to meet your investment and protection needs. And, when these needs change, universal life can change with them.

Once you have maximized your RRSP contributions, universal life is an ideal next step for you to incorporate into your financial plan to continue your wealth accumulation tax-efficiently.

Take advantage of universal life's tax advantages and preserve your hard earned savings.

Original article on Trustco.ca