10.3.8 Life insurance as a retirement investment

From: Financial Consumer Agency of Canada

If you have permanent life insurance with a cash value, you can borrow against those savings and then spend or invest the money you borrow. You can also deduct the cost of the interest on your income tax return. After you die, the death benefit on your policy can pay off the loan.

My personal savings

Use this checklist to mark the types of savings vehicles you are currently using to save for your retirement. Make a note next to ones that you want to investigate further.
Savings vehicle Amount currently held Notes
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