Insurance in Estate Planning

Using Insurance in Estate Planning provides a comprehensive and practical examination of how insurance products can be strategically integrated into modern estate plans. Designed for Canadian CPAs and financial professionals, this course explores how life insurance, critical illness insurance, and long-term care insurance function not only as risk management tools, but as powerful mechanisms for tax efficiency, liquidity planning, and wealth preservation. Participants will gain a clear understanding of the tax treatment of insurance under the Income Tax Act, including tax-free death benefits, deemed dispositions at death, and the use of insurance to offset capital gains tax and registered account liabilities. The course also examines corporate-owned life insurance, the Capital Dividend Account, premium deductibility under section 20(1)(e.2), and the structuring of buy-sell agreements to support business succession planning. Through detailed case studies and applied examples, learners will see how insurance can prevent forced asset sales, protect family businesses, equalize inheritances, and support intergenerational wealth transfer. The program also addresses beneficiary designations, spousal and dependent rollover rules, and the ethical and fiduciary responsibilities CPAs must consider when advising clients in this area. Delivered online and self paced, the course includes video instruction, downloadable reference materials, and knowledge checks to reinforce learning. By the end of the program, participants will be equipped with the technical insight and practical framework needed to confidently evaluate and incorporate insurance strategies within comprehensive estate planning engagements. This course is part of the Canadian Tax Mastery Certificate, the Certificate in Personal and Family Taxation, and the Estate and Succession Planning Certificate, and contributes toward continuing professional development requirements.