Tax Free Annuity lost:Universal Life
At one time, the annuity portion was tax free. Imagine another TFSA.
However, about 10 years ago The Feds saw too much money leaving the tax trough, and made T5s to be issued on all future policies. Old policies are left alone though.
As for investment, this is a funny beast, it is called a "Segregated Fund". What that means is that each week the profits are taken, and re invested next week. What ever you start with , you will only lose the change for the following week. In other words, the gains are basically protected.
"Seg Funds" operate like mutual funds, and can be managed for you or self directed to different funds operated by the Company. Your call.
Best I ever did was 24% annual return. Some years have been 1 % s some years 6 %, some years 15%.
Biggest truth is no Life Insurance is a good deal. You only collect when you die, and then it doesn't matter to you anyway.
However, Term gets VERY expensive past age 55, and can be refused right at the time of life when health issues create the most need.
Drewski
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