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In The News: Canada Child Benefit About to Increase

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Have you heard?

Families that are entitled to the Canada Child Benefit (CCB) who have children under six years old will be receiving a little bit more money this year!

The last year and a half has been very unpredictable for families – especially ones with young children who have been hit by several additional COVID expenses such as child care and around the house activities. 

In 2021, families can receive up to $1,200 more per child under the age of six.

The first payment was issued on May 28th, 2021, and the final two payments will be issued on July 30 and October 29, 2021.

This additional money can help families pay for child care, food, clothing, etc.

If you are interested in learning more, you can check out these two articles here and here.

Child Plan – the fastest growing alternative to the RESP.

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.

Request Illustration

*illustrations are reflective of the annual premium amount

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