RRSP Season and the 250% Rule

Did you know that RRSP season is a great time to remind your Universal Life (UL) clients of the 250% rule? Because 80% – 90% of all UL sold in Canada has been sold on a minimum funded basis, RRSP season is the ideal time to consider the advantages of...

Sunset of the 250% Rule

Did you know that the 250% exempt testing rule applied to Universal Life contracts in Canada expires at age 85? The Canadian Income Tax Regulation #306 subsection 4b speaks to this. In short, exempt testing which applies to all Universal Life contracts starting in the...