Life insurance is a great tool to leave a legacy, ensure estate debt is covered, and help with your family’s income. In Canada, when life insurance is paid out to an individual and the owner is an individual the death benefit is tax-free to those who are receiving it.
Covering funeral costs with life insurance
How are you going to cover the cost of your funeral. Some planning is going to be needed.
End of life planning
Doing end of life planning helps your family know your wishes.