A popular form of TFSA is the life insurance policy. This usually allows you to choose an underlying set of unit trust funds in which to invest.  The advantage of a life policy structure is that it is simpler to manage in the event of your death - the named beneficiaries receive the proceeds relatively quickly and it does not form part of your estate for the calculation of executor fees. You are, however, able to contribute and withdraw from the fund just like for unit trusts. Life policies are often sold by financial advisors.

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