PRESENTATION TITLE:
Preserving Wealth and Reducing Taxes: Whole Life Insurance Strategies for Physicians
PRESENTATION OBJECTIVES:
- Understand the Tax Advantages of Whole Life Insurance for Physicians
- Learn how whole life insurance, especially when owned by a corporation, offers tax benefits at various financial planning stages.
- Explore the concept of tax-free growth, tax-free proceeds for the corporation upon the insured’s death, and the tax-efficient distribution of capital dividends to heirs.
- Discover the Investment Stability Offered by Whole Life Insurance
- Gain insights into the stability and reliability of whole life insurance as an investment option for physicians.
- Understand how the policy’s guaranteed growth and annual dividends through a participating whole life policy provide a secure asset class for long-term financial planning.
- Explore the Role of Whole Life Insurance in Tax-Efficient Corporate Investments and Wealth Transfer
- Examine the tax implications of corporate investments and the potential impact on returns and liquidity.
- Learn how participating whole life insurance provides tax advantages, including tax- deferred growth, tax-free death benefits, and tax-efficient access to cash value.
- Discover how whole life insurance can be a valuable tool for long-term financial planning and wealth transfer, allowing physicians to maintain tax efficiency while preserving their wealth.
BIO:
Dr. Mike Long BSc, MD, CFPC is a family physician and the founder of Aurora Family Health Clinic and Mountdale Medical Centre in Thunder Bay, Ontario.
He is an Assistant Professor at NOSM University with a special interest in mentoring residents and physicians on various finance topics.
Dr. Long is a serial entrepreneur with a passion for small business and real estate ventures.
