Should You Buy Insurance For Children?

People are confused about life insurance and about the insurance industry in general. There are too many products, and the products are complicated. As a result fewer Canadians are buying life insurance in spite of the fact that there is a definite need. Those in the insurance industry recognize the problem and see the need for change.

“The insurance industry must try and simplify products in order to make them easier to understand, and less intimidating”, said Louise Mitchell, senior vice president, life and health, TD Insurance. “As an industry, we’ve created complicated products,” she said. “We need to have simple products.”

Insurance for Children is not your traditional company with a dizzying array of complicated insurance products. We have 2 core products – Child Plan for Parents and Child Plan for Grandparents. Insurance For Children is entirely devoted to empowering parents and grandparents to create a solid financial foundation for their children and grandchildren. Our focus is on insuring life. Child Plan for Parents can be used to pay for any education program worldwide; not only those approved by the government. If your child doesn’t pursue post secondary education Child Plan can be used to buy a house, start a business, or as a source of income. Child Plan for Grandparents is a flexible, tax free gift for your grandchildren. It can be used for education, to help with the down payment on a home, as a financial asset to start their own business, or even as a future source of retirement income.

Should you buy insurance for children? Absolutely! We want the best for our children and grandchildren. We want to give them every advantage in life, like a good education, the ability to buy a home and financial security. But, we need a plan – Child Plan. It pays for life! Contact us today and find out how you can help your children and grandchildren achieve their hopes and dreams in 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.

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

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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