Could Your Retirement Plans Be Jeopardized Because of The Cost of Your Child’s Post Secondary Education?

If you’re like many Canadian families, the realities of retirement may be causing a full scale panic, especially if you have university age children. A Leger Marketing survey discovered that:

  • A surprising 92% of parents with children under the age of 18 were concerned that their retirement savings plan could be derailed.
  • 29% of parents with children under the age of 18 are concerned that their own retirement could be derailed by their children’s post-secondary education costs.

Families have every right to be concerned. According to the Canadian Centre for Policy Alternatives:

  • Average fees, in current dollars, have increased from $1,464 in 1990-91 to $6,348 in 2012-13.
  • They are expected to climb to $7,437 in 2016-17.

According to the Association of Universities and Colleges of Canada (AUCC), enrolment at post-secondary schools is at an all-time high; a ringing endorsement as to the importance of a post-secondary education in today’s global marketplace. Since 2000 the number of full-time undergraduate students in Canada has grown by nearly 44%. The federal government estimates that 75% of new jobs in the coming decade will require post-secondary education. Who has been paying for all of these university degrees? You and I! In February, the federal government wrote off $231 million in unpaid student loans from more than 44,000 cases, which means that taxpayers are footing the bill for more than half a billion in uncollected student debt over the past few years.

Who is going to foot the bill for your child’s post-secondary education? Will you have to jeopardize your retirement savings to ensure that your child acquires the necessary skills to succeed in life? There are other ways to pay for a college education without resorting to your retirement fund or student loans. Insurance for Children has created Child Plan™ Education Achiever so that parents can help their children follow their dreams and achieve their goals in life. Contact us today and let us show you how.

Sample Child Plan™ Cash and Insurance Value Illustration

Based on a Monthly Deposit of $250 per month

Age Accumulated Cash Value Life Insurance Value


$82,568 (Education)



$177,953 (House)



$303,299 (Security)



$834,276 (Retirement)


Sample illustration is for a child under age 1 based on a monthly deposit of $250 for twenty years. There will be no further contributions required after year twenty. The cash and insurance values are based on a dividend interest rate of 6% from a Canadian life insurance company.

Personalize Your Child Plan™

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

To learn more how Child Plan™ will provide your child with the funds for their future education and financial security for life, book a virtual meeting with a Child Plan™ Advisor.