Principal Issues: Policyholder requested we verify the computation of the taxable policy gain on the disposition of his life insurance policy. More specifically, we were asked whether the policy premiums and policy dividends were correctly accounted for.
Position: Question of fact. Provided general comments.
Reasons: General comments based on section 148 of the Act. Specific concerns as to amounts reported must be referred to the insurer. Disputes between policyholders and their insurers may be referred to the OmbudService for Life and Health Insurance or Financial Services Commission of Ontario.