After working on the police force for 50 years, today’s guest, Jim Hanifan from Nova Scotia, Canada, got into finance and insurance in his desire to help people properly plan to ensure their families are protected. He believes that helping others plan for their future, their investments, and the next generation’s future is his way of giving back to his community.

Jim joins me today to share the benefits of having a life insurance policy. He gives an overview of how insurance can be a tool for better taxation, how it can protect your investments and assets, and how you can safeguard the future of your family - especially the next generation.

 

“If they’re looking at all into investments like oil or gas, real estate or some other investments, this insurance becomes a part of the leg that helps to protect all of those assets.” - Jim Hanifan

In This Episode of Real Money Talks: 

• The benefits of investing in life insurance
• Benefits policyholders can enjoy concerning the Income Tax Act
• How entrepreneurs benefit from life insurance policies in case of bankruptcy
• How you can prepare and fund the next generation

Questions to Ask When Reviewing Your Life Insurance Policy:

1. What are your goals?
2. What is your purpose?
3. What are the things you want to achieve in life?
4. How can we get the insurance to incorporate into that planning process?

 

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