Line 121 - Earnings on a life insurance policy

Report the earnings that have accumulated on certain life insurance policies in the same way as you do for other investments. In all cases, your insurance company will send you a T5 slip. For policies bought before 1990, you can choose to report accumulated earnings annually by telling your insurer in writing.

Completing your tax return

Enter on line 121, your interest from life insurance policies shown in box 13 on your T5 slip.

Forms and publications

• General Income Tax and Benefit Package - Guide, return and schedules
• Schedule 4, Statement of Investment Income

Related topics

• Line 221 - Carrying charges and interest expenses