Many people think of life insurance for one need only: income protection for their family. However, it's also important for tax and estate planning, because it:

• Helps reduce or defer taxes on the wealth you want to pass on. That means you will have more savings to invest and grow
• Helps your loved ones pay any final costs on your estate.
• Here are seven ways you can use insurance to help you reduce taxes and plan your estate. By planning ahead, everyone wins.

Learn more now: Seven ways insurance can help you reduce taxes and plan your estate

Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.