Hi Everyone,

I was looking to leverage life insurance to protect the money tax free in my corporation because of a financial advisor suggestion. The idea is instead of keeping money in my bank, it goes into the life insurance. The Life insurance investments grow at about 5% while obviously having to pay monthly premiums. When I need that money I simply burrow against it and use life insurance as collateral. Therefore it keeps growing and the money burrowed can be invested. This is better than paying myself personally because I won't have to pay taxes on personal I assume and I can just burrow the money when needed interest free? That way it is much cheaper paying premiums then it is paying taxes personally.

Am I understanding this correctly and a good option for myself?