You know that becoming an informed consumer is key to any significant purchase—especially one as important as life insurance.
But even if you’ve done your homework, you may have many unanswered questions about the taxation of life insurance:
Do you have to pay taxes on your life insurance proceeds in Canada?
If so, when would your family receive the death benefit?
Is this money subject to other taxes?
What happens if you don’t have a beneficiary?
The list of questions goes on and on. But by learning as much as possible about life insurance—either on your own or with advice from a professional—you can do more to protect your loved ones by making sure they receive the most money in the easiest way possible.
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