9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 1, 2015-0588941C6 F - Critical illness insurance -- summary under Subparagraph 39(1)(a)(iii)

A corporate owner of a critical illness insurance policy (in this case, "Opco" holding a policy referencing its sole individual shareholder) could transfer it free of capital gains tax, as insurance policies are excluded from capital gains treatment and there is no provision explicitly taxing such a policy’s disposition.