,CANADA ,CU/OMS                       #A
& ,REV5UE ,AG5CY

              ,9COME ,TAX
          ,9T]PRET,N ,BULLET9
    
,SUBJECT3 ,,9COME ,,TAX ,,ACT
  ,VALU,N ( ,%>ES (A ,CORPOR,N ,RCVG
  ,LIFE ,9SUR.E ,PROCE$S ON ,D1? (A
  ,%>EHOLD]
,NUMB]3 ,,IT-#DAF;,R#C
,DATE3 ,JULY #AJ1 #AIHG
,REF];E3 ,SUBSEC;NS #GJ7#E7 & #GJ7#E.C7

  ,? BULLET9 C.ELS & REPLACES
,,IT-#DAF;,R#B DAT$ ,SEPTEMB] #BF1
#AIHD4 ,CURR5T REVI.NS >E DESIGNAT$
0V]TICAL L9ES4

#A4 ,P>AGRAPH #GJ7#E77A7 DEEMS ! PROP]TY
  (A DEC1S$ P]SON 6H BE5 4POS$ ( IMMLY
  2F D1? = PROCE$S EQUAL 6! FAIR M>KET
  VALUE (! PROP]TY AT T "T4
#B4 ,! PROP]TY REF]R$ 6IN #A MAY 9CLUDE
  %>ES (A CORPOR,N ! VALUE ( :        #A
             ,,IT-#DAF;,R#C          A#A
  DEP5DS AT L1/ 9 "P ^U ! VALUE (A LIFE
  9SUR.E POLICY "U : ! DEC$5T 0 ! P]SON
  ^: LIFE 0 9SUR$4 ,! CORPOR,N'S 9T]E/ 9
  ! POLICY MAY 2 DIRECT OR X MAY 2 "? XS
  [N]%IP ( %>ES ( ANO!R CORPOR,N4 ,9 EI
  CASE1 = D1?S O3URR+ AF ,DECEMB] #A1
  #AIHB1 SUBSEC;N #GJ7#E.C7 PROVIDES T !
  VALUE (! POLICY IMMLY 2F D1? % 2 XS
  CA% SURR5D] VALUE AT T "T Z DET]M9$ "U
  P>AGRAPH #ADH7#I77B7 7SEE #C 2L74 ,":
  ! D1? O3URR$ PRIOR 6,DECEMB] #B1
  #AIHB1 ! -;TS 9 P>AGRAPHS #D & #E 2L
  APPLY4
#C4 ,9 DET]M9+ ! CA% SURR5D] VALUE (A
  POLICY =! PURPOSES ( SUBSEC;N
  #GJ7#E.C71 P>AGRAPH #ADH7#I77B7
  PROVIDES T POLICY LOANS \T/&+1 POLICY
  DIVID5DS PAYA# & ANY 9T]E/ PAYA# ^U S*
  DIVID5DS % 2 4REG>D$4 ,9 A4I;N 6^?
  SPECIFIC EXCLU.NS1 ! ,DE"P;T AL 3SID]S
  T PREPD PREMIUMS & DIVID5DS LEFT ON
  DEPOSIT >E N ELE;TS (! CA% SURR5D]
  VALUE (A POLICY AL? _! VALUES1 &!
  VALUES ( ^? ELE;TS SPECIFIC,Y       #B
             ,,IT-#DAF;,R#C          B#A
  EXCLUD$1 MAY A6ECT ! VALUES (! %>ES (A
  CORPOR,N : IS ! [N] & B5EFICI>Y (!
  POLICY4

    ,D1? ( ,%>EHOLD] 2F ,DECEMB] #B1
                 #AIHB
    
#D4 ,": SUBSEC;N #GJ7#E.C7 DOES N APPLY1
  ! 9SUR.E POLICY1 Z A -PON5T (! ASSETS
  "ULY+ ! %>ES1 W 2 VALU$ 9 A3ORD.E )
  NORMAL VALU,N PRACTICES TAK+ 963SID],N
  ALL FACTS RELEVANT 6! "PICUL> CASE4 ,9
  ? REG>D1 ! VALUE E/ABLI%$ =! 9SUR.E
  POLICY IMMLY 2F D1? %D 2 BAS$ ON
  RELEVANT FACTORS RELAT+ 6! DEC1S$
  %ORTLY 2F D1?1 E4G41 ! "D PRIOR 6D1?
  7SEE #E 2L74
--------------------------------------#B
#E4 ,MAJOR FACTORS T %D 2 TAK5 96A3.T >E
  7A7 ! CA% SURR5D] VALUE1 IF ANY1 (!
    POLICY1
  7B7 ! LIFE EXPECTANCY (! 9SUR$ BAS$ ON
    MORTAL;Y TA#S1 &
                                      #C
             ,,IT-#DAF;,R#C          A#B
  7C7 ! /ATE (! H1L? (! 9SUR$ Z X WD 2
    "KN 6O!R P]SONS4
  ,= EXAMPLE1 ! VALUE ( AN 9SUR.E POLICY
  CD APPROA* XS FACE VALUE IF X 7 "KN T
  ! 9SUR$ _H A T]M9AL ILL;S OR 0
  CRITIC,Y 9JUR$ Z A RESULT ( AN A3ID5T
  & N EXPECT$ 6RECOV]4 ,3V]SELY1 X WD H
  LL A4$ VALUE IF A P]SON 9 APP>5TLY
  EXCELL5T H1L? 7 6DIE UNEXPECT$LY Z A
  RESULT ( AN A3ID5T OR HE>T ATTACK4 ,=
  VALU,N PURPOSES ! /ATE ( H1L? (! 9SUR$
  PRIOR 6D1? WD OV]RIDE ! E6ECT ( AN
  UNEXPECT$ D1? DUE 6A CAUSE N RELAT$
  6ANY "KN H1L? PRO#M4 ,"!=E1 IF A P]SON
  ) T]M9AL C.ER DI$ F AN UNEXPECT$ HE>T
  ATTACK ! ACTUAL CAUSE ( D1? WD N 2
  RELEVANT 9 ! VALU,N1 B ! FACT T !
  P]SON _H T]M9AL C.ER WD4





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