Do you own your business? If you do and you need to borrow money - TopicsExpress

Do you own your business? If you do and you need to borrow money and the lending institution wants you to transfer your personal life insurance policy to your company as collateral or vise-versa, beware of the possible tax consequences. This article gives you some information on what you should consider before doing so. My best advice is to always consult with your advisor and your accountant before changing the policies owner. Forwarded by hpsolutions.ca or 705-222-2477. advisor.ca/insurance/life/tax-consequences-of-transferring-life-insurance-146759?utm_source=EmailMarketing&utm_medium=email&utm_campaign=AM_Bulletin

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