Mother’s Day Poll Shows Moms Concerned About Paying For Their Children’s Education

What’s keeping you up at night? If you’re like most Moms, it’s retirement and paying for your children’s education. A recent poll by Nesbitt Burns found that:

  • 83% of surveyed mothers are concerned about affording their ideal retirement
  • 67% are worried about paying for their children’s education
  • 40% of mothers stated that they or their family do not have a financial plan – potentially putting these families at risk of not being able to fund key life events

According to Charyl Galpin, co-head, BMO Nesbitt Burns, “Canadians feel they need, on average, more than $650,000 for retirement, and a post secondary education may cost as much as $140,000 for a child born in 2013.” The really daunting thing about these figures is that the projected cost of $140,000 for post secondary education is after tax income. How much will you have to earn to fund $140,000 in education costs? Even if you combine student loans and grants, it will merely be a drop in the bucket.

“If you fail to plan, you are planning to fail!”

Benjamin Franklin

Insurance for Children is a company that is entirely focused on the financial futures of children. We’ve created Child Plan Education Achiever so that parents can help their children follow their dreams and achieve their goals in life. Our Child Plan Education Achiever can be used to pay for any education program worldwide; not only those approved by the government. Even if your child doesn’t pursue post secondary education it can be used to buy a house, start a business, or as a source of income.

Money can’t buy happiness but it can solve a lot of problems. Contact Insurance for Children today and let’s show you how with our Child Plan Education Achiever you don’t have to stay up worrying about how to pay for your child’s education. Insurance for Children pays for life!

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.

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*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.

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