Business 49 - Wednesday, February 13, 1985 - North Shore News Life insurance and the RRSP n the past, the Life Insurance Industry got itself a bad name as an RRSP investment because of unsuitable products and high ‘‘front-end loadings’’ which took away most of the early con- tributions in sales commissions. They were not alone in this regard aS some types of mutual funds also had the same high loadings. In those early days the Trust Com- panies, Banks and Credit Unions were not active in the RRSP market and the average consumer was not well informed, Bad memories linger and many financial advisers still recommend against Life In- surance products for RRSPs, LET OTHERS talk about Pacific Rim trading oppor- ‘tunities, Jose Barrieatos likes the North-South links. Bar- ientos, an employee of Latin American Imports on Marine Drive in North Vancouver deals in crafts imported from South and Central America including such items as the ceramic street band and the lamb woo! poncho and the alpaca wool hat he is wearing. Which is unfortunate because the latest forms of RRSPs of- fered by the leading life in- surance companies today are among the best available and have several unique features not available in the plans offered by the other financial institutions. These latest plans can best be described as RRSP “packages’’ combining the features of a savings account and a term deposit within a We're the pre ferred answering servi e in : : he ba ‘We're: "proud‘to. help-you: deferred annuity contract. Although the salesman earns a commission, this is not ex- cessive and the commission is not deducted from the con- tributions. All of the amount contributed plus interest is credited to the RRSP and there are usually no charges except in the case of premature withdrawal from a guaranteed term plan. These features are, of course, similar to those of- fered by other financial in- stitutions. The Life Insurance companies are strictly tegulated as to how they may to indulge in ‘leverage’, invest the money entrusted to which is the practice of len- them. They are not permitted ding money which you do not - By BERT WICKHAM - NEWS photo Stuart Davis _ Of course you want to keep more ofthe money you work hard for. And you could--if you Jet H&R Block prepare your tax return. Asa matter of fact, in a recent survey, 2 out of 3 H&R Block customers who got refunds believed they got bigger refunds than if they Gid their own taxes. H&R Block helps you get every possible deduction, exemption and credit you're entitled to. Call your near- est H&R Block office today. We could help you keep more of your hard-earned money. It pays tc be prepared by HéeR BLOCK THE INCOME TAX SPECIALISTS NORTH SHORE DOWNTOWN OFFICES: OFFICES; 1754 Lonsdale Ave. 984-4288 339 W. Hastings St. 687-5321 Lynn Valley Centie 984.6412 (District Office) eaton' ‘aygz «1107 Robson St. 688-8561 Eaton's Park Royal 922-3925 69 LocATED DOWNTOWN AT: Sears Capilano Mall 985-7722 Woouwards. The Bay. Woodwards Park Royai 922-6111 Eatons. Sears. have, and all investments must be carefully ‘‘matched"’ and backed by high quality reserves deposited in trust. For this reason they do not need the protection of Canada Deposit Insurance which is limited to $60,000.00 per eligible account. Because of the very strict controls im- posed, Federally licensed life companics in Canada can be considered safe for any Legislation and these should be considered separately. Another important item is security from creditors’ claims. Because this form of RRSP is considered a life in- surance contract, it cannot be attached by creditors which makes it an ideal savings plan for the entrepreneur or self- employed professional who may be subject to possible amount of business they care creditor claims or suits for to accept and no such com- neglipence. pany has ever failed to meet its obligations. Although This is the last in our series most life companies in of articles on how to choose Canada are Federally licens» an RRSP. Copies of the cn- ed there are some operating tire series are available by under purely Provincial calling 925-3101. “The Marx Brothers of Brass" (New York Times) in Concert with the Vancouver Chamber Choir Wed. Feb. 20 8:00 p.m. ORPHEUM Generously A CBC sponsored by ¥Antity Broadcast Event Tickets: VTC outlets, CBO, Eaton's, Woodward's. Credit Card Line: 280-4444 Information: 738-6822 A Benefit Concert for the Vancouver Chamber Chair Endowment Fund Invested: 20,200 Value today: $74,800 Investor Jocation: Vancouver, B.C. Fund selected: Industrial Growth Fund Investnient made: March 1977 otal invested: $20,225.00 Value (December 1, 1984): $74,842.00 Has your RRSP done this well? Ifit hasn't, you owe it to yourself to find put more about Industrial Growth Fund and what it has achieved on behalf of more than 100,000 Canadian investors. The example we've shown is an unsheltered investment. And we cant guarantee the same results for you. But. then, long-term past performance is the best guide to the future. Industrial Growth 's record aver the past 17 years speaks for itself, And its manager. Mackenzie Financial Corporation. is very optimistic about the sears tocome. For the complete story on an Industrial Growth Fund RRSP. including a comparison with other investments, return the coupon delow, or call, Today! L) Please send me information on what Industrial Growth Fund could mean ta my rehyement planning. ANDRESS any PHONE (BUSINESS) IRESIDENCE, Cnoyde (OWL Inruestment LL, ences Sed. 988-6737 561 Croydon Place, North Vancouver V7N 229 PROVO RODE Otter micade vats bg prreasgues ites Lee