What insurance suits family business transfers with holding companies?

Marino said Manulife launched the book in 2000 because “when we first entered the insurance business, we realized how few of our colleagues really understood the taxation of life insurance and how it could be used in the various contexts that they’re already giving their clients advice about”.

“We wanted them to be able to understand how insurance would work and the various planning avenues that they were already involved in and they may not have realized, or appreciated, where life insurance could fit.”

The resource includes tax legislation developments, Canada Revenue Agency interpretations, and 

Manulife staff’s insights on where insurance can fit, how it could work, and any deficiencies.

This year, the book includes Bill C208, which sets out a framework for family business transfers involving holding companies.  Marino said, “this legislation puts family business transfers that fall within the rules on the same plane as if you sell your business to an arm’s length third party because there are some specific provisions in the act that would have prevented this similar treatment.