A Detailed Guide to Travel Insurance in Victoria BC Get The Best GIC Rates in Victoria BC With Discove | Page 4

The Insurance Advantage
 Many investors realize that you can purchase bank GIC’s at your local branch. But did you know
you can buy similar investment products offering very competitive rates from insurance
companies?
 GIC’s issued by insurance companies offer three distinct features that set them apart from bank
GIC’s: an estate planning benefit, more extensive potential protection from creditors and tax
advantage for non-registered contracts.
 The estate planning benefit means that if you name a beneficiary other than your estate on the
insurance GIC contract at the time of purchase, the proceeds (including interest) of your
investment will bypass your estate if you pass away.
 This is significant because it means that your beneficiaries will receive the proceeds privately* and
directly, without administrative charges, while avoiding potential probate** and estate fees.