Here is a Money Bag that Wealthy Canadians have been using for Generations. It is called an ‘Insurance Tax Shelter’. If you own a ‘Permanent Life Insurance’ Policy, Government rules allow you to open a ‘Tax Sheltered’ Investment Account, under the umbrella of the ‘Life Insurance Policy’. What that means is, the deposits and the growth are ‘Tax-Sheltered’.
There are the 3 Key Components: