Canadian Life Insurance

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fephooJunior Member
Topic author
Posts: 14
Joined: 19 Apr 2009

Canadian Life Insurance

Post Wed Apr 29, 2009 6:44 pm

I have a term life insurance in Quebec. If I become a US resident, is it legal to keep this life insurance in QC ? Does keeping it means I would be seen as a Canadian resident and create problem at tax times ? What about taxes in the sad case where money would have to be paid by the insurance ?
Thanks.
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RebaModerator
Posts: 2561
Joined: 16 Jul 2004
Location: North Carolina

Re: Canadian Life Insurance

Post Thu Apr 30, 2009 4:22 am

Ask the insurance company.
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StevenCanuckAbroad VIP
Posts: 3635
Topics: 2
Joined: 28 Sep 2007
Location: Calgary

Re: Canadian Life Insurance

Post Tue May 05, 2009 10:11 am

It probably does count as one of the more minor residential ties, but I wouldn't worry about it too much.
Steve.
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