Canadian Life Insurance

Moderator: Reba

Canadian Life Insurance

Postby fephoo » Wed Apr 29, 2009 5:44 pm

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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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Re: Canadian Life Insurance

Postby Reba » Thu Apr 30, 2009 3:22 am

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Ask the insurance company.
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Re: Canadian Life Insurance

Postby Steven » Tue May 05, 2009 9:11 am

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