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An Insured Retirement Plan (IRP) is a financial solution designed to provide permanent life insurance coverage along with tax-efficient retirement income planning. This plan helps your business accumulate cash value inside a tax-exempt life insurance policy, creating a valuable financial asset. Unlike traditional taxable investments, the IRP leverages the policy’s cash value to generate a tax-free stream of income during retirement, benefiting business-owners and key executives. Additionally, it ensures essential permanent life insurance coverage, protecting your business against unforeseen circumstances while offering powerful tax-saving advantages and strategic estate planning opportunities.
An Insured Retirement Plan starts with business-owners or key executives purchasing a permanent life insurance policy and consistently funding premiums to grow its cash value. Once these values have sufficiently accumulated, typically after the guaranteed payment period and around retirement age, the policyholder assigns the policy as collateral to obtain a tax-free lump sum or regular income from a lender. Eventually, the loan balance is repaid using the policy’s death benefit, ensuring efficient wealth transfer to beneficiaries
Get expert advice, customize your plan, share documents, and activate your tax-efficient retirement strategy with confidence.
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Leave A Lasting Legacy
80% of high-net-worth individuals use life insurance in retirement strategies.
Apply NowReceive a personalized insurance policy designed to meet your specific coverage needs.
Once approved, you’ll receive your insurance certificate and be fully covered.
Unlock permanent wealth growth, tax-free retirement income, creditor protection, flexible funding, and estate planning advantages while maintaining full financial control through your corporation.
Instantly boosts net worth with an immediate death benefit
Generate tax-free retirement income via collateral loans against your policy.
Safeguards your policy cash values from creditors, subject to certain legal conditions.
Allows you to easily adjust investment amounts according to changing financial situations.
Provides continued tax-free growth of policy cash values even after accessing funds through loans.
Enables you to withdraw only the funds you need, precisely when required.
Offers tax-efficient transfer of wealth to beneficiaries upon death.
Gives you complete control over managing retirement income, loans, and wealth transfer.
Collateral loans allow you to access your policy’s accumulated cash value tax-free without selling assets or triggering taxable events. Interest typically accumulates and is paid along with the outstanding loan balance from your policy’s death benefit upon passing
Ensure tax-efficient wealth transfer, preserve estate value, support dependents, and leave a lasting legacy.
Provides heirs immediate, tax-free financial support to cover estate taxes, debts, and expenses, ensuring your legacy remains intact.
Policy death benefits paid directly to named beneficiaries avoid probate, saving time, legal costs, and providing rapid access to funds.
Facilitates fair inheritance distribution, allowing for balanced transfers of business interests or assets among multiple heirs.
Enables you to leave a meaningful, tax-efficient legacy by directing part of your benefit toward charities, supporting causes important to you.
Offers structured financial support for special-needs dependents without compromising eligibility for government assistance.
Helps maintain your estate’s value by using the tax-free benefit to cover estate taxes or debts, especially beneficial for estates with illiquid assets like real estate or business shares.
Adjust your plan as life changes, ensuring your plan remains aligned with evolving goals and financial circumstances.
Allows you to structure charitable giving directly from the policy proceeds, leaving a meaningful impact on causes important to you.
Affordable and comprehensive coverage for peace of mind.
Schedule A MeetingUnlike RRSPs and TFSAs, an IRP allows unlimited tax-deferred contributions combined with permanent life insurance coverage, offering tax-free access to funds via collateral loans. This plan suits higher-income earners and business owners who seek tax-efficient retirement solutions beyond conventional accounts, especially when focused on estate planning and legacy creation.
A real-world look at how high-income individuals can rethink retirement planning with smarter, tax-efficient strategies designed for long-term growth and control.
Jim is a high-income earning individual who over the years has built up significant non-registered investments. Having already maximized his registered investment accounts, Jim is concerned with the amount of tax he is paying on his investments and is looking for an alternative asset that can help him enhance his retirement lifestyle.
40 Years Old Male
Non-Smoker
Healthy, Active Lifestyle
The fixed income portion of Jim’s existing non-registered investments are being heavily taxed. Considering the tax and low interest rates, Jim is concerned he will quickly deplete his non-registered investments in retirement and not have anything left for his heirs.
After meeting with Jim, his advisor considers possible solutions to ensure tax on existing non-registered investments is reduced and sufficient income will be there for him during retirement, while leaving a significant legacy for his heirs. The advisor recommends the Insured Retirement Strategy from Empire Life for the following reasons:
Using non-registered fixed income assets to fund a participating life insurance policy provides a viable opportunity to:
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