RRSPs vs Universal Life

RRSPs and universal life insurance both offer tax deferred investment growth. How else do they compare?

Item	RRSP	Universal Life
Are my contributions tax-deductible?	Yes	No
Is my investment growth tax-free?	Yes	Yes
Can I switch investments tax-free?	Yes	Yes
Can I switch providers tax-free?	Yes	No (tax on gain)
Is there a tax-free estate value?	No (deemed disposition)	Yes
Are my deposits unlimited?	No (contribution limits)	Yes
Am I free of withdrawal requirements?	No (mandated minimums)	Yes

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compare retirement rrsp universal_life

page revision: 7, last edited: 05 Apr 2007 02:26

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