Knowledge First Financial Inc., Canada’s largest RESP company, announced it stopped selling certain RESPs on January 23, 2019 due to lack of sales. The RESP is a government program created in 1972 to help your grandparents save for your parents’ university education. Since then, both the world and education options have changed. When your parents […]
Information about the Canada Child Benefit and how parents can use it to invest in their child’s financial planning. The Canada Child Benefit or CCB replaced the Canada child tax benefit (CCTB) and the universal child care benefit (UCCB) as of July 1, 2016 and is the most advanced government program created to help […]
Typically I begin by asking parents what they believe is an RESP (Registered Education Savings Plan)? Every parent automatically and without hesitation replies that it’s an education savings plan for their children’s future education, where the Government gives them 20% of whatever they deposit to their children’s education savings plan. Following that they are […]
Millennial Parents’ Guide To Financial Planning For Children By Michael Lampel As a parent of three, I understand there is nothing we won’t sacrifice for our children’s future — including sleep, health, financial future, and yes, even retirement. When I had my first child the last thing I was thinking about was protecting her financial […]
Sample illustration of Child Plan™ Cash and Insurance Values
Based on a Deposit of $225 per month
|Age||Accumulated Cash Value||Life Insurance Value|
1. Sample illustration is based on a $225 monthly premium for twenty years, starting when the child is less than 2. Cash and life insurance values are based on the current dividend scale of 6.35% from a Canadian Life Insurance Company. 3. This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed and values may differ.
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Request a Child Plan™ Illustration and see how much cash value your child will have for their education and for life.
*illustrations are reflective of the annual premium amount