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From $180 Diaper Bags to $900 Strollers, Parents Want the Best For Their Children

“At the end of the day, the most overwhelming key to a child’s success is the positive involvement of parents.”

Jane D. Hull

Parents have dreams and hopes for their children – a better life, good education, great job, wonderful family of their own. As time goes by the cost of living, post-secondary education and raising a family continues to rise at an alarming rate. According to Statistics Canada, the average household annual expenditures in Toronto are:

  • Housing $17,185
  • Personal Taxes $18,488
  • Transportation $10,676
  • Food $8,132
  • Personal Insurance Payments & Pension Contribution $5,734
  • Recreation $3,549
  • Household Operation $4,053
  • Health Care $1,824

This list does not take into account post-secondary education for your children, clothing or other personal expenses.

According to the Canadian Centre for Policy Alternatives, “The price tag for a university degree is significant: when books, living expenses and transportation costs are added to tuition and other compulsory fees, the cost of a four-year university education is estimated to reach over $80,000.” I’ve seen estimates for the costs of a university education for children born this year at $140,000 – $160,000 and this does not include books, living expenses, transportation costs and other fees.

As parents we have our hearts in the right place and the best of intentions. We may have no problem affording a $180 diaper bag or a $900 stroller, but what about $140,000 – $160,000+ for a university education?

Did you know that for the price of two lattes a day, your child can go to university, buy a home for their family and have the financial freedom to pursue their dreams?

Child Plan can help your dreams for your children come true. Contact us today and find out how.

Sample illustration of Child Plan™ Cash and Insurance Values

Based on a Monthly Deposit of $250 per month

Age Accumulated Cash Value Life Insurance Value
20 $82,568 (Education) $612,728
35 $177,953 (House) $1,115,297
45 $303,299 (Security) $1,115,297
65 $834,276 (Retirement) $1,666,824

Sample illustration is based on a monthly contribution of $8.32 a day/$250 a month for twenty years, starting when the child is less than 1 years old. Cash and life insurance values are based on the current dividend interest rate of 6% 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.

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*illustrations are reflective of the annual premium amount

Have a question about Child Plan or wish to speak with a Family Advisor?