Hi all,
We are planning to apply for PR.Will Life Insurance Policy certificate which has year of maturity as 2030 can be shown as deposit in our name??
Thanks for the reply.I did not understand.Did you mean I have to cash it now?Then I will lose a good amount amount of money if I cash it prematurely.
Will the insurance certificate do any good?
Thanks for the reply.I did not understand.Did you mean I have to cash it now?Then I will lose a good amount amount of money if I cash it prematurely.
Will the insurance certificate do any good?
No - it won't be any good for proof of funds. Proof of funds have to be available / liquid. If this money is locked in and you are going to lose a large amount if you withdraw it - then this money isn't available and won't be accepted as proof of funds. The reason why CIC wants you to show proof of funds that are available / liquid is because you will need this money to establish yourself when you arrive in Canada.
