Serving Ontario

Keep The Lion’s Share

Who doesn’t want to pay less tax and keep more of their invested funds for themselves and their loved ones?  At Lion’s Share Wealth Management (powered by S.O.S. Financial Group Inc.) we seek out products, services and strategies that help you do just that.  Did you know that life insurance can help too?

Life insurance isn’t only for protecting your loved ones financially after you pass away.  There are products that do that but also come with benefits that can be accessed throughout the lifetime of the insured person.  Products like Participating Whole Life Insurance from Serenia Life ™ can do both!

Serenia Life Whole Life insurance has been designed from the ground up with clients in mind. With many features such as guaranteed premiums, guaranteed death benefit and the opportunity to pay more than the required premiums with the Additional Deposit Option, Serenia Life Whole Life can help meet your unique protection needs.

Participating life insurance, known as “par” in the industry, is a form of whole life insurance providing a guaranteed payout and cash value, just as other whole life products do.  However, a Participating policy also lets clients participate in the investment portion of the policy, or the par account, through dividends.  This provides another avenue for wealth-building while receiving tax-advantaged policy growth and potential dividends. The cash value that accumulates within the policy can be withdrawn, or leveraged, and used for opportunities for the business, to offset expenses or for an emergency fund.

The flexibility of this product, along with its unique features, such as vesting, means that it meets the needs of different client categories including individuals, professionals, and business owners.

“Helping business owners and professionals to grow their money and give less to the government while keeping more for themselves and their loved ones is the #1 goal of our KTLS method.  At Lion’s Share Wealth Management (powered by S.O.S. Financial Group Inc.) we use products like Participating Whole Life Insurance to help our clients meet their goals strategically and cost-effectively.” Shara Carr – Chief Operating Officer – S.O.S. Financial Group Inc.

“Whole life insurance provides a stable investment option for clients with tax-advantaged growth and is considered an exempt life insurance policy under the Income Tax Act (Canada).” *

Participating life insurance can help business owners in other ways too:

  • Key-person coverage protects against the loss of a partner or essential employee, paying out a guaranteed death benefit (remains level as long as premiums are paid) that can be used to help buy the shares of a deceased partner or key employee.
  • Provides a tax-free payout to the corporation if a business partner dies, which can be used to invest in the business, pay off debts or even expand.
  • Most often the tax-free payout is distributed through the capital dividend account (CDA). The CDA is intended to allow tax-free amounts received by a private corporation to be distributed tax-free to shareholders of the corporation.
  • Diversify your investment portfolio using this product that achieves tax-advantaged growth that vests each year, so once vested it can’t be lost.
  • Use the cash value while alive for any reason a client wants, including getting over financial hurdles and hiccups that face most businesses at one time or another.
  • There are several ways to access and use the funds during the lifetime of the insured but all should be explored with your trusted and Licensed Financial Professional to determine which is the best strategy to meet your unique needs.

Whatever your personal and business goals are, participating life insurance is a powerful product to have in your financial plan– one protects your successors in the future but is also available to you today.

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