{"id":36146,"date":"2026-04-16T10:37:46","date_gmt":"2026-04-16T14:37:46","guid":{"rendered":"https:\/\/silver.rbcinsurance.com\/en-ca\/?p=36146"},"modified":"2026-04-16T15:25:40","modified_gmt":"2026-04-16T19:25:40","slug":"why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook","status":"publish","type":"post","link":"https:\/\/silver.rbcinsurance.com\/en-ca\/discover-share\/life-insurance\/why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook","title":{"rendered":"Why Par Whole Life is the Wealth Transfer Tool Advisors Can\u2019t Overlook"},"content":{"rendered":"\n<div class=\"wp-block-rbc-template-selector templateSelector template__article articleSingle\" data-template=\"article\">\n<div class=\"wp-block-group articleSingle__container tabListStickyWrapper is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero__inner is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span>\n\n\n\n<div class=\"wp-block-group articleSingle__featuredImage__group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__title__group is-layout-flow wp-block-group-is-layout-flow\"><h1 class=\"wp-block-post-title\">Why Par Whole Life is the Wealth Transfer Tool Advisors Can\u2019t Overlook<\/h1>\n\n\n<div class=\"wp-block-group articleSingle__date__group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-post-date\"><time datetime=\"2026-04-16T10:37:46-04:00\">April 16, 2026<\/time><\/div>\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__readTime\">5 Min Read<\/span>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__author__group is-layout-flow wp-block-group-is-layout-flow\">\n<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Avatar.webp?quality=80&w=128&h=128&crop=1\" alt=\"The Globe and Mail\">\n\n\n\n<div class=\"wp-block-group articleSingle__author__details is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"wp-block-rbc-html-element articleSingle__author__name\">The Globe and Mail<\/span>\n\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__author__designation\"><\/span>\n<\/div>\n<\/div>\n<\/div>\n\n\n<figure class=\"articleSingle__featuredImage wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook.webp?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Why par whole life is the wealth transfer tool advisors can\u2019t overlook\" style=\"object-fit:cover;\" srcset=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook.webp 1024w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook.webp?resize=300,200 300w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook.webp?resize=768,512 768w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook.webp?resize=420,280 420w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__container__main is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__page__nav is-layout-flow wp-block-group-is-layout-flow\">\t\t<div class=\"socials-block\">\n\t\t\t\t\t\t<p class=\"socials-block-title\">\n\t\t\tShare this article\t\t<\/p>\n\t\t<div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n\t\t\t\t\t<a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Why Par Whole Life is the Wealth Transfer Tool Advisors Can\u2019t Overlook &#038;body=Hi, I thought you might be interested in this article from RBC Insurance: https:\/\/silver.rbcinsurance.com\/en-ca\/discover-share\/life-insurance\/why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook\" aria-label=\"Email\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n\t\t\t\talt=\"envelope icon\">\n\t\t\t\t<span>\n\t\t\t\tEmail\t\t\t\t<\/span>\n\t\t\t<\/a>\n\t\t<div class=\"social-button-wrapper sharing-copy-wrapper\">\n\t\t\t<button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/silver.rbcinsurance.com\/en-ca\/discover-share\/life-insurance\/why-par-whole-life-is-the-wealth-transfer-tool-advisors-cant-overlook\" aria-label=\"Copy URL\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n\t\t\t\talt=\"copy icon\">\n\t\t\t<span id=\"sharing-copyUrl-Label\">\n\t\t\t\tCopy URL\t\t\t<\/span>\n\t\t\t<\/button>\n\t\t\t<input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n\t\t<\/div>\n\t<\/div>\n  \t\t<\/div>\t\n\t\t<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__content__main tabListHeadings is-layout-flow wp-block-group-is-layout-flow\">\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<p>As Canada\u2019s largest intergenerational wealth transfer kicks into high gear over the next decade, $1-trillion in assets is expected to change hands. For advisors, it can be prudent to position participating whole life insurance as part of estate planning. The product can play a powerful role in holistic strategies that preserve wealth, reduce complexity and support smooth transitions.<\/p>\n\n\n\n<p>These policies allow individuals and their businesses to transfer wealth that would otherwise be taxable. Essentially, the product shifts taxable wealth into a tax-free death benefit. That provides liquidity to protect families and businesses from catastrophic financial loss, while ensuring that taxes and other expenses are minimized.<\/p>\n\n\n\n<p>\u201cIt\u2019s tax-advantaged, ensuring more wealth flows to the heirs,\u201d says Kathryn Bennett, director of Tax and Estate Planning at RBC Insurance.<\/p>\n\n\n\n<p>Participating whole life helps advisors deliver solutions that not only protect clients\u2019 wealth but also empower families to thrive for generations because of the tax advantages, flexibility and permanence of participating whole life, she says. This long-term approach to legacy planning provides more stability and certainty in an uncertain world.<\/p>\n\n\n\n<p>\u201cIt\u2019s about legacy \u2013 what\u2019s left the day after. Insurance helps make sure that legacy happens.\u201d<\/p>\n\n\n\n<p>To that end, beyond helping reduce the impact of estate erosion because of taxes, Ms. Bennett notes participating whole life has a cash value component that can grow over time. That happens from dividends generated from the policy\u2019s underlying investments. Payment of dividends aren\u2019t guaranteed; other factors that can influence them include death benefit payouts, lapses in premium payments, and expenses\/taxes.<\/p>\n\n\n\n<p>Policy owners can take the dividends as income, which are taxable, or can increase the size of the death benefit.<\/p>\n\n\n\n<p>\u201cThere\u2019s also the potential, if the participating [whole life] policy fund performs very well, for a premium offset, whereby the policy could eventually become self-supporting,\u201d Ms. Bennett explains.<\/p>\n\n\n\n<p>As a tool to support the great wealth transfer, participating whole life insurance often appeals to older and more affluent Canadians as their wealth and estate plans become clearer. Yet this insurance can also be suitable for younger clients.<\/p>\n\n\n\n<p>\u201cIt works for them differently,\u201d Ms. Bennett says. \u201cA high-income, growing family could purchase a policy for a lesser amount, with the potential to increase the benefit later when taxable wealth exposure and their capacity to pay higher premiums increase.\u201d<\/p>\n\n\n\n<p>She notes that comprehensive, holistic wealth planning should combine retirement, tax and estate strategies to define the needs and risks insurance is meant to address.<\/p>\n\n\n\n<p>\u201cThere&#8217;s a lot of fact-finding: What do they own? What do they owe? Is the business incorporated? Insurance fills the gap between what you\u2019d like to happen and all the costs that erode estates: taxes, probate, and estate administration costs and debts.\u201d<\/p>\n\n\n\n<p>Participating whole life is often considered when individuals have maximized registered retirement savings plan and tax-free savings account contributions. When surplus income is invested in non-registered accounts, that results in higher taxes paid while alive. Moreover, the capital is likely to grow significantly over decades, creating a sizable tax bill for the estate. The right planning determines if that capital can be put to better use as premiums for a participating whole life policy.<\/p>\n\n\n\n<p>\u201cPeople with additional income during their lifetime can put more money into the policy to grow those tax-advantaged values and the tax-free death benefit,\u201d Ms. Bennett says.<\/p>\n\n\n\n<p>This strategy may be particularly of interest to successful entrepreneurs. Their corporation can be a beneficiary, providing tax-free liquidity that can be paid tax efficiently as dividends to shareholders.<\/p>\n\n\n\n<p>\u201cParticipating whole life inside a corporation has the advantage of no tax on that growth inside the policy. They potentially could put more money in, reallocating from taxable investments into the policy through the additional deposit option.\u201d<\/p>\n\n\n\n<p>More broadly, the benefit isn\u2019t generally subject to probate, avoiding fees in some provinces while allowing beneficiaries to receive the proceeds faster.<\/p>\n\n\n\n<p>The benefit may also be exempt from claims of creditors of the deceased for personally owned policies. &nbsp;For corporations, it provides liquidity to cover taxes associated with the transfer of ownership.<\/p>\n\n\n\n<p>Participating whole life provides the liquidity to address a range of unique needs, such as business succession, creditor protection and covering the costs of estate administration. Given the product\u2019s complexity, Ms. Bennett says advisors should work closely with insurance, tax and estate specialists to maximize the value and determine suitability.<\/p>\n\n\n\n<p>Taking a collaborative approach with other professional advisors can help ensure that the participating whole life policy is aligned with the client\u2019s broader legacy goals.<\/p>\n\n\n\n<p>By introducing participating whole life, advisors can also deepen conversations about legacy across generations and provide greater clarity around long\u2011term planning. \u201cThis holistic wealth planning is about tailoring solutions to a client&#8217;s needs, hopes and their legacy. And participating whole life insurance can make sure that legacy happens as planned.\u201d<\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse2de7ba0a\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse2de7ba0a\" data-dig-id=\"LP-10384-2de7ba0a\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things Our Lawyers Want You to Know\"><div>Things Our Lawyers Want You to Know<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse2de7ba0a\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"has-text-sm-font-size\">*Home and auto insurance products are distributed by RBC Insurance Agency Ltd. and underwritten by Aviva General Insurance Company. In Quebec, RBC Insurance Agency Ltd. Is registered as a damage insurance agency. As a result of government-run auto insurance plans, auto insurance is not available through RBC Insurance in Manitoba, Saskatchewan and British Columbia.<\/p>\n\n\n\n<p class=\"has-text-sm-font-size\">This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":203,"featured_media":36144,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/new-rbci-design.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[54],"tags":[4,25],"article-type":[88],"ppma_author":[198],"class_list":["post-36146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","tag-life-insurance","tag-wealth-management","article-type-discover-share"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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