Redeeming lawful money at a Canadian bank

[amosfella]

I've been doing more reading on this, and all policies executed are paid out in lawful money and are not taxable, while policies cashed in early are not. policies cashed in early are subject to tax on the increase in the value of the policy over what is paid. I believe that's called capital gains.
Interesting that this is posted on a Canadian Government website.

http://www.btb.termiumplus.gc.ca/tpv...LAWFUL%20MONEY

In the province that I"m from, the insurance act section 528.
http://www.canlii.org/en/ab/laws/sta...NhbmFkYQAAAAAB