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What will you learn about?

Insurance Products

  • Property and Auto Insurance
  • Life Insurance
  • Disability, Health and Critical Illness Insurance
  • Tax Treatment of Life, Disability and Health Insurance

Insurance Needs and Business Considerations

  • Risk Management Over Time and Assessing Life Insurance Needs
  • Insurance Considerations for Small Businesses and the Self-employed

Personal Trusts and Estate Planning

  • Personal Trusts
  • Taxation of Trusts
  • Estate Freezes
  • Estate Administration
  • Estate Planning for Farmers and Owners of Small Businesses

What is the course syllabus?

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Chapter 1 - Property and Auto Insurance

Topics covered in this chapter are:

  • Scope of Coverage
  • Homeowner, Secondary or Seasonal Residence Insurance, Condominium, and Tenant’s Insurance
  • Loss Indemnification (Actual Cash Value versus Replacement Cost)
  • Illustration — The Scopes Case
  • Personal Automobile Insurance
  • Loss or Damage to Vehicle
  • Factors Impacting Automobile Insurance Premiums
  • Automobile Insurance Strategy
  • Automobile Third-Party Liability
  • Automobile Accident Benefits
  • Personal Umbrella

Chapter 2 - Life Insurance

Topics covered in this chapter are:

  • Insurance Strategy
  • Temporary (Term) Insurance
  • Permanent Insurance
  • Life Insurance Premiums and Pricing
  • Policy Provisions and Options
  • Child Rider
  • Mortgage Insurance

Chapter 3 - Disability, Health and Critical Illness Insurance

Topics covered in this chapter are:

  • Disability Insurance
  • Additional Definitions of “Disability”
  • Claim Costs
  • Group Disability Plans
  • Government “Insurance” Programs
  • Assessing the Need for Disability Coverage
  • Group Health Insurance
  • Critical Illness
  • Long-term Care
  • Travel Insurance
  • Other Types of Coverage
  • Illustration — The Carson’s Case

Chapter 4 - Tax Treatment of Life, Disability and Health Insurance

Topics covered in this chapter are:

  • Tax Treatment of Life Insurance
  • Tax Treatment of Disability and Health Insurance

Chapter 5 - Risk Management over Time and Assessing Life Insurance Needs

Topics covered in this chapter are:

  • Risk Management Over Time
  • Assessing Life Insurance Needs

Chapter 6 - Insurance Considerations for Small Businesses and the Self-employed

Topics covered in this chapter are:

  • Risk to Business Assets
  • Exposure to Business Income Interruption

Chapter 7 - Personal Trusts

Topics covered in this chapter are:

  • Definition and Characteristics of a Personal Trust
  • Parties to a Trust
  • Types of Personal Trusts
  • Revocable Trusts versus Irrevocable Trusts
  • Discretionary Trusts versus Non-discretionary Trusts
  • Spousal Trusts
  • Role of the Trustee
  • Purposes/Uses for Trusts

Chapter 8 - Taxation of Trusts

Topics covered in this chapter are:

  • Transfers of Assets to a Trust
  • Spousal Trust, Alter Ego Trust and Joint Spousal Trust
  • Taxation of Income Earned on Trust Assets
  • Attribution Rules
  • 21-year Deemed Disposition Rule
  • Tax Treatment of Income Retained by a Trust
  • Income Attributed to the Settlor of the Trust
  • Preferred Beneficiary Election
  • Earnings Distributed by a Trust
  • Trusts for Minors and Qualified Disability Trusts
  • Capital Property Disposed of by a Trust
  • Reporting for Trusts
  • Multi-jurisdictional Tax Considerations

Chapter 9 - Estate Freezes

Topics covered in this chapter are:

  • Rationale for an Estate Freeze
  • Favourable Environment for an Estate Freeze: Opportunities Warranting an Estate Freeze
  • Types of Estate Freeze
  • “Thawing” a Corporate Estate Freeze

Chapter 10 - Estate Administration

Topics covered in this chapter are:

  • Notification of Executorship (Liquidatorship)
  • First Steps in the Administration of an Estate
  • Communication to Interested Parties
  • Documentation
  • Administering Assets
  • Letters Probate in Common Law Provinces
  • Taxation of the Deceased and the Estate
  • Investment Powers and Decisions
  • Family Law, Matrimonial Law and Dependant Relief Claims
  • Settlement and Distribution of the Estate
  • Distribution of Assets Outside of the Will

Chapter 11 - Estate Planning for Farmers/Fishers and Owners of Small Businesses

Topics covered in this chapter are:

  • Succession Planning for Owners of Family Farms/Fishing Property
  • Succession Planning for Owners of Closely Held Small Business Corporations
  • Succession Planning Issues Common to Owners of Family Farms/Fishing Property and Closely Held Small Business Corporations
  • Buy/Sell Agreements

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Textbook readings available in PDF and printed format
  • Learning objectives that keep you focused
  • End of chapter activities including review questions to help you reinforce your learning and identify topics that may need to be revisited during exam preparation
  • Two self-assessments and practice questions so that you can assess your progress
  • Online assistance from CSI’s academic support specialists