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A Child Plan™ is a type of life insurance policy that combines life insurance with a savings component to provide both protection and savings for your child’s future needs. Here are some benefits of a Child Plan™:

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A Child Plan™ offers more flexibility than an RESP in terms of how the money can be used. The savings component of the policy can be used for any purpose, such as education expenses, starting a business, or a down payment on a home. The funds can also be withdrawn at any time without any restrictions.

Tax Benefits

Contributions to a Child Plan™ are not tax-deductible. However, the investment growth and the death benefit are tax-exempt. Moreover, some child plans offer additional tax benefits, such as tax-free withdrawals, which can help parents save money on taxes.

No restrictions

A Child Plan™ has no restrictions on the contributions or withdrawals. Parents can contribute any amount they want, and the funds can be withdrawn at any time. There are no restrictions on the use of the funds, unlike an RESP, which is specifically designed for post-secondary education.

Guaranteed Payouts

A Child Plan™ offers guaranteed payouts in the form of a death benefit, regardless of the investment performance. This means that in case of the policyholder’s death, the beneficiary will receive a guaranteed amount, which can help cover the child’s future needs.


A Child Plan™ also provides life insurance protection for the policyholder, which can help protect the child’s financial future in case of the policyholder’s untimely death.


The savings component of the Child Plan™ can be invested in various investment options, such as mutual funds, stocks, or bonds. This can help parents grow their savings and potentially earn higher returns than traditional savings accounts or GICs.

With a Child Plan™ participating whole life plan, your child will:

  • Receive an annual tax-free dividend every year from the day you open the plan for life
  • The cash values are guaranteed and will grow tax-free throughout their life
  • Your child has flexibility to use the cash values for any education around the world when they are 18, as well as to buy their first home and have financial security for life
  • The cash values of their participating whole life plan is secure and never declines, no matter what happens in the stock market.
  • Your child’s plan includes fully paid-up whole life insurance for your future generations.

Request a Child Plan™ Illustration and see how much cash value your child will have for their education and 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.

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

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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