Child Plan™: A secure and flexible way to invest for your child’s future
Your Children’s Future Won’t Be Limited
Freedom to Choose
Annual Dividends for Life
Whole Life Insurance
What is Child Plan?
Child Plan is a Participating Whole Life insurance plan and a tax-free investment that can be opened by parents and grandparents in Canada.
With Child Plan, your child or grandchild will receive a tax-free dividend every year for life, which will give them the freedom to:
- Study any program at any university or college, anywhere in the world without restrictions.
- Buy their first home,
- Start their own company one day, if that’s their dream
- Follow whatever dream in life they will have
And so many more benefits that include,
- Opening a Child Plan “Participating” Whole Life insurance plan for your child as early as 14 days after birth.
- The cash value in the plan grows tax-sheltered for the entire life of the child
- The child can access the cash values for any education or financial need in life
- The plan cash value and life insurance grows tax-free and can be transferred to the child totally tax-free anytime in life after they are 18 years of age.
- The plan includes continuously growing whole life insurance on the life of the child that is intended for future generations
- Child Plan can be opened by parents, grandparents, aunts and uncles or legal guardians.
Receive a Child Plan personalized illustration by email presenting the cash and insurance values for your child’s future.
By clicking ‘Get a personalized Child Plan illustration’ you acknowledge leaving Hudson’s Bay Financial.com to visit a third-party website and agree to the Hudson’s Bay Company Terms and Conditions and Privacy Policy.
With Child Plan, your child will receive a tax-free annual dividend for life that they can use for any education program around the world and towards a down payment on a home or for any financial need in life, even if they don’t attend university.
Sample Illustration of Child Plan Cash & Insurance Values (based on a monthly deposit of $225 per month)
| AGE | ACCUMULATED CASH VALUE | LIFE INSURANCE VALUE |
| 19 | $84,485 (Education) | $606,899 |
| 35 | $182,075 (House) | $832,038 |
| 45 | $314,869 (Security) | $1,053,479 |
| 65 | $911,164 (Retirement) | $1,724,583 |
Sample illustration is based on a $225 monthly premium for twenty years, starting when the child is less than 1. Cash and life insurance values are based on the current dividend scale of 6.20% from a Canadian Life Insurance Company. This example is strictly for illustrative purpose only, the annual dividend scale is not guaranteed and values may differ.
By clicking ‘Get a personalized Child Plan illustration’ you acknowledge leaving Hudson’s Bay Financial.com to visit a third-party website and agree to the Hudson’s Bay Company Terms and Conditions and Privacy Policy.
|
|
POINTS EARNED |
| Enrollment | 4,000 |
Due to provincial regulations, Rewards Points are not available for any quotes or enrolments to customers located in ON, PQ, NS, PEI and NFLD.
WHO IS CHILD PLAN?
As Canada’s leader in financial planning for children, we’re committed to helping parents plan for their children’s futures. Whether it’s your child’s dream to get a first-rate education, buy their own home, start their own business one day or travel the world helping others in less advantaged places, Insurance for Children helps parents invest in their children to achieve their dreams. Whatever they may be.
Did you know?
Did you know that participating whole life plans are the only tax-free investments parents and grandparents can open for their children and grandchildren in Canada?
Latest Child Plan Insurance Articles
Can I Open a TFSA for my Child’s Education and Future?
Canadians of all ages, including children, regularly invest in Tax-Free Savings Accounts (TFSAs). TFSAs allow you to invest and save money without paying tax on any investment income or capital gains earned within the account. Therefore, they’re a tax-efficient way to...
The Gift That Keeps on Giving: A Post-Secondary Education
Picking out the right gift for your child, grandchild, niece or nephew can be tedious. While some people love to add to the piles of “stuff” most kids have by buying toys and other “things”, there’s a better, more thoughtful gift. Whether it’s for Hanukkah, Christmas,...
Benefits of the Child Plan: Protecting Your Bundle of Joy
All parents know there’s nothing more important than the safety and security of their children. Your top priority as a parent is protecting your little bundle of joy from any potential risks. You want to protect your child from physical, emotional, and psychological...
Gift Ideas for Children and Going Back to School
Back to school is a big time of the year for kids, and many parents and grandparents want to celebrate their children's next steps and encourage enthusiastic learning through a special gift. If you’re looking for back-to-school gift ideas for your child or grandchild...
Is Saving For Your Child’s First Home Important?
Saving for your child’s future is an important part of being a parent. While all parents want to invest in their child’s future, the choices Canadian parents have are minimal. Ensuring your child is prepared for whatever paths in life they wish to follow are vital....
What Expecting Mothers Need To Know About Planning Their Child’s Financial Future!
Expecting the arrival of a new baby is an exciting and eventful time in any new parent’s life. Among all of the excitement, there can also be a bit of stress about providing the best possible life and the best possible future for the new baby. This leads parents to...
Give The Gift Of an Education Savings Plan To Your Grandchildren This Holiday Season
As the holiday season begins, many grandparents are hoping to come up with the perfect gift for their grandchild. When a child is young and unable to appreciate and care for precious gifts, it can be difficult to give them a meaningful gift that will impact their life...
Give Your Child The Financial Freedom To Dream Big
As a parent, you’ll want to give your baby everything you can to make them happy; their first hug, their favourite stuffed animal, their favourite blanket. But you also are keenly aware they will grow up and you are already thinking of their future even before they...
What About an Alternative Education Savings Plan?
From the moment they’re born, we put everything into our kids. The success and happiness of our children means the success and happiness of our family and our future, and as parents, we’re always asking ourselves, “is this enough?” or “can I be doing more to ensure my...
How ChildPlan Can Make Buying a Home in the Future Easier!
Wow. The average selling price of a home in Canada is now $678,091, which is a 26% increase vs the prices in February 2020. In Ontario, the average selling price is $864,159, an increase of 24.5% year over year, and in BC it’s $886,695! For those who have a house,...
Why Can’t Grandparents Open a Tax-Free Investment for Their Grandchildren’s Future and Education?
There is no question that times have changed. As grandparents, one of the only constants is your desire to help your children give your grandchildren a better life. But how? Parents invest heavily every year to help their adult children financially. From babysitting...
How to Use the Canada Child Benefit to Invest in Your Child’s Future
Information about the Canada Child Benefit and how parents can use it to invest in their child’s financial planning. The Canada Child Benefit (CCB) replaced the Canada Child Tax Benefit (CCTB) and the Universal Child Care Benefit (UCCB) as of July 1, 2016, and is the...