Question: Gregory, a 4 year old widower, tus been a successful investor. He has a large registered retirement savines plan CRRS) and a rental property. Both

 Gregory, a 4 year old widower, tus been a successful investor.

Gregory, a 4 year old widower, tus been a successful investor. He has a large registered retirement savines plan CRRS) and a rental property. Both of these assets consistently appreciate. He realizes that the tax consequences on his death will be significant at this point he calculates the bill would be 5.000.000 before accounting for expected appreciation Gregory wants to offset the tax on the RRSP by purchasing life insurance. He also has $250,000 mort on the family home with 15 years remaining He does not want to leave his adult sor with the burden of the mortage should be pass way early. Which of the options below would best meet Gregory's needs while being cost eficent 5650.000 Universali 550.000 Term 100 5400.000 Whole Life Participating and a $250,000 Tom 10 renewablender 400.000 Term 100 and $250.000 Tem 20 not renewable rider Ow OD Oo

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!