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LEGATO WEALTH MANAGEMENT
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    • Part 1: Legacy Gifting Private Company Shares
    • Part 2: Legacy Gifting Private Company Shares
    • Life Insurance As Fixed Income Plus
    • Smooth Transitions
    • Reduce Estate Shrinkage
    • Take Time For Your Legacy
    • Protect Your GrandChildren
    • Another Asset Class
    • Take Five
    • Inheritance & Taxation
    • Cash Me If You Can
    • Think Wider
    • Succession Planning
    • Legato 3
    • Retirement Income
    • Look Across
    • Lest We Forget
    • Partners In Search For A Cure
Comparison of Common Types of Life Insurance
In general term, life insurance plans fall into one of two categories:

 Legato1
​
 Life Insurance for 10 or 20 Years
 Monthly or Annual Premiums
 * Fitness Program



 Tax-Free Death Benefit
 Tax-Free Dividends (CDA)

​ Term Life
​


2Legato2
  Life Insurance ~ 15 or 20 Years
  Single Premium Deposit
  Mututal Fund Investment


​​ 
Tax-Free Investment Growth
 Tax-Free Death Benefit
 Tax-Free Dividends (CDA)


​ Universal Life



​ Legato3
 Life Insurance For A Lifetime
 Deposit Premiums Over 7-10 Yrs
 5%+ Yield from Investment Pool
 "Fully Paid Up"

 Tax-Free Investment Growth
 Tax-Free Death Benefit
 Tax-Free Dividends (CDA)


Whole Life PAR

Steps To Legato1
Corporate Legato3 Information
Term Insurance (Legato1)
Picture
Life insurance protection for a specific, limited amount of time, typically to age 70 or 75.
​
  • ​Each 10 year or 20 year policy term is renewable until the life insured reaches that age without a medical review.
  • Lowest premium costs.
  • No cash value
  • Often used for a specific need like protecting a young family or insuring a home mortgage.
  • ​Tax-free payout to beneficiary(s) on passing of life insured.

​** Steps to Legato1: start here.
  ​Permanent Insurance 
​
(Legato2 & Legato3) 
Picture
Life insurance protection that can last a lifetime.

  • ​Permanent life insurance coverage on person or shareholder.
  • Tax-free growth of Legato policy just like an RRSP or TFSA.
  • Legato2 creates tax-protected mutual fund investment.
  • Legato3 creates tax-protected commercial real estate and corporate bonds investment, typical yielding 5-6% per year. 
  • Tax-free death benefit payout of the Legato policy paid to the named beneficiary(s), such as a spouse or family member(s), upon the passing of the life insured.
For Corporately-Owned Legato3 Policies
  • Tax-free payout of the death benefit into the corporation upon the passing of the insured shareholder.
  • Tax-free dividends can be distributed to the shareholders's estate or other owners due to the large CDA generated by the payout of the Legato3 death benefit into the corporation.

​** Steps to Legato3 for life: start here.

Copyright 2023- Legato Wealth Management Inc. 

  • Home
  • About
    • Mission & Principles
    • Our People
    • Strategic Relationships
    • Community
    • Learning & Connecting
    • Contact
    • Meeting Legato >
      • Meeting Checklists
      • Parking
      • Review Online
  • Solutions
    • Invest For Succession
    • Legato "Fund" for Estate Freeze
    • My PAR Gift
    • Philanthropy
    • Creating & Distributing Wealth
    • Legato Plans
    • Steps to Legato1
    • Policy Search
    • Will Search
  • Articles
    • The Pair: Estate Freeze & Legato Plan V2
    • 70 Years and 214 Days
    • Tax Apportionment in Estate Planning
    • Beneficiary Designations and Resulting Trusts Revisited
    • Reviewing A Shareholder's Agreement
    • Part 1: Legacy Gifting Private Company Shares
    • Part 2: Legacy Gifting Private Company Shares
    • Life Insurance As Fixed Income Plus
    • Smooth Transitions
    • Reduce Estate Shrinkage
    • Take Time For Your Legacy
    • Protect Your GrandChildren
    • Another Asset Class
    • Take Five
    • Inheritance & Taxation
    • Cash Me If You Can
    • Think Wider
    • Succession Planning
    • Legato 3
    • Retirement Income
    • Look Across
    • Lest We Forget
    • Partners In Search For A Cure