Exempt Policy Status

Tuesday, February 17, 2009

...Thinking of buying permanent insurance?...

here are, broadly speaking, two forms of life insurance: term and permanent. With permanent insurance, sometimes called whole life insurance and other variations, the premiums paid to the insurer create an investment fund for the policyholder. The fund earns investment income and is generally not subject to federal or provincial income tax provided the policy qualifies as an "exempt policy" under the Income Tax Act.

The rules on what is or isn't an exempt policy are complex and best left to the insurer; however, before signing a policy be sure the agreement specifies the insurer will monitor your policy's status and they will ensure it maintains its exempt status.

Why do this? If your policy loses its exempt status it will be subject to income tax and would therefore create a significant tax problem.

Posted 2009/02/17 at 12h06ET in Estate Planning.

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Day 109: Writing a Novel—The Deep Blue Hold

Sunday, March 6, 2017 Note: Unedited writings from my notebook for this novel. Square bracket items represent added comments.
At 18:47 Office ... I barely remembered anything about this story... H as it really been three months? I guess it has. I put it out of my mind [so much so] that I barely remembered anything about this story. Not even the title. [Unreal!!!!!!] I had the general premise and an ending—enough I thought for a novel. What I lacked was a determination and desire to want to write it. Why bother… I wasn’t enjoying the process and I had no reason to believe the result wouldn’t be anything more than what’s gone before—nothing.
James Piper Kitchener, Ontario Post comments on facebook page. Follow me on twitter. Posted 2017/04/14 at 14h02ET in The Deep Blue Cage | Writing A Novel

Words: Fairy—Ferry

Thursday, September 6, 2012
A homonym.
FAIRY—A fairy tale. A fairy godmother. Fairy—not a long, long way to run.
FERRY—A boat or ship to transport drunken Swedes back home from Copenhagen. It’s the Danish beer.
Fairy Ferry Samantha the Swimming Fairy by Daisy Meadows Evening Ferry by Katherine Towler
Posted 2012/09/06 at 5h02ET in Words, Writing.

Bedtime Stories (2008)

Thursday, May 14, 2009 Bedtime Stories. Feature film. (2008, 99 mins) IMDB...a tame comedy that results in few laughs... There's the young Adam Sandler as a boy living with his sister in a small hotel in LA. His father owns and operates it. Sandler helps out. The dream of father and son is for the son to take over some day except there's a problem. The father isn't a very good manager and the place isn't making enough money. Enter the villain to buy it off him. The villain being a Mr. Hilton type who is able to turn lead into gold. Fast forward twenty years or so. The hotel is a large, thriving business, but for Sandler, instead of owning it or even managing it, he's the custodian who repairs broken dishwashers and replaces burnt-out light bulbs. The promise by the villain to put him in charge was either forgotten or ignored. Enter his estranged sister. She's a health freak with two young children. The father left a long time ago. Part of the humour…

James Piper, Author

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