MILIFE: CANADA RETIREMENT SAVINGS PLAN

A Secure & Flexible Way to Invest in Your Future

MILIFE Parent Plan is an insured retirement strategy that will address your dual need for insurance & retirement income supplement. The power of compounding works by growing your wealth exponentially and investing at young age since time has the power in the formula. The immediate need for protection on outstanding debts such as mortgages and other loans and the need to provide for the family in the case of sudden loss is best addressed by life insurance.
IRP concept that transforms a life insurance policy and a bank loan into the potential tax-deferred accumulation of funds today and tax free access to those funds in the future. The concept is simple: the accumulated value of an exempt life insurance policy purchased from us today provides you with cash flow / retirement income in the future by serving as collateral for a loan from any bank in Canada for purposes of the Insured Retirement Program, the loan is structural as a line of credit.

Sample illustration of MILIFE Parent Plan Cash / Retirement income & Life Insurance values

Case Study:
Male: Age 35, Non- smoker, Standard Health.
Mortgage & other loan balance total up to $500,000.
Retirement age 65.
Premium payable until age 65, for 30 years.
Retirement income from age 66.
Based on monthly premium of $500 to age 80.
Net Cash Value Age Net Life Insurance value(Tax Free)
$0 35 $750,000
$50,006 45 $803,256
$101,785 55 $910,762
$165,707 65 $665,100
$283,609 75 $764,307
$561,463 85 $849,537
$1,006,416 95 $1,270,037
Age 35- 65: Annual
deposit of $6000
Age 66- 80: Tax free annual retirement income of $22,690 ie., for 15 years
This example is strictly for illustration purposes only & value may differ.

Personalise your MILIFE Parent Plan

Request an illustration to see how much cash value & life insurance you will have.
*Illustrations are reflective of the annual premium amount.