Child Plan™ is a “Participating” Whole Life insurance plan. Participating whole life insurance plans have been used by Canadian parents to save for their children’s education and future since 1847.

Participating whole life insurance plans are whole life insurance plans combining guaranteed cash values with tax-free annual dividends and permanent whole life insurance growing tax-free throughout your child’s entire life and which your child can use for their education and any financial need in life.

Child Plan™ is not an RESP (Registered Education Savings Plan). The RESP is a government program where your child can only use the funds you saved if they attend a post secondary education approved by the government of Canada. Child Plan™ is your private plan and the fastest growing alternative to RESP, and the only tax-free investment parents and grandparents can open for their children in Canada which they can access for any education program around the world and for any financial need during their life. To learn more about how Child Plan™ compares to an RESP click here.

Child Plan™ can be opened by a parent, grandparent, aunt, uncle, or legal guardian for a child as young as 14 days old. While it’s best to start early, Child Plan™ can also be opened for children over the age of 18.

There is no minimum or maximum amount. Your investment depends on your family budget. Our average family contributes $225 per month or $2,700 per year to their child’s Child Plan™; however, we have families who contribute $100 per month and some who contribute $500 per month. It’s entirely up to your budget.

No. You do not need to register your child for a SIN number to open a Child Plan™.

Child Plan™ can be opened by parents, grandparents, aunts, uncles and legal guardians.

Your Child Plan™ is completely funded for your child’s entire life, after 20 years of contributions.

Yes. You and your child will receive an annual dividend for life, completely tax-free.

Child Plan™ is very safe. Your plan is issued and backed by a major Canadian life insurance company. Your contract and contributions are with the Canadian life insurance company.

A Child Plan™ illustration is an illustration that shows you the annual dividends and cash value of the Child Plan™ throughout your child’s life based on the contribution amount you select.

No. After you transfer the Child Plan™ to your child, they can use the cash value for any financial need in life including education, down payment on their first home or for any financial need in life.

You or your child can access the cash values in five different ways. Your Family Advisor will outline the five ways when you speak with them in person or by phone.

Yes, you can open a Child Plan™ if you live outside Ontario. At present Child Plan™ can be opened in Ontario, British Columbia, and Alberta. We will be adding the remaining provinces throughout the rest of the year; please check back with us if we are currently not operating in your province.

No. There are no taxes or fees when you transfer ownership of the Child Plan™ to your child.

Yes. You can request a Child Plan™ illustration right on our website before you decide whether to speak with a Family Advisor. Go to create a personalized illustration, complete the form and we’ll email you a Child Plan™ illustration.

You can open a Child Plan™ in person with a Family Advisor or by phone. Get started with an illustration request and we’ll connect you with a Family Advisor.

Sample illustration of Child Plan™ Cash and Insurance Values

Based on a Deposit of $225 per month

AgeAccumulated Cash ValueLife Insurance Value
21$76,579 (Education)$579,690
35$183,410 (House)$937,650
45$322,675 (Security)$1,200,957
65$919,880 (Retirement)$1,861,831

Sample illustration is based on a $225 monthly premium for twenty years, starting when the child is less than 1. Cash and life insurance values are based on the current dividend scale of 6.25% from a Canadian Life Insurance Company. This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed and values may differ.

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.

Request Illustration

*illustrations are reflective of the annual premium amount

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