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 child has a good life?”. If you’re the kind of parent who has asked themselves these questions, you’re most likely also the kind of parent who has looked into an education savings plan for your child.

Most parents who have the means want to put money aside for their children’s future, whether that be their education, their future home, or whatever life may throw their way. However, in Canada, parents’ options when saving for their children are very limited.

Limited Options When Saving For A Child Under 18 In Canada!

While many parents know about RESPs (Registered Education Savings Plans), they are often disappointed to find out that they can only deposit funds until their child turns 17, and that the funds can only be used for government-approved colleges and education-related expenses. Some parents have asked if they can open a TFSA for their children, but unfortunately, children in Canada under 18 are unable to have a TFSA.

What about opening an investment account for them with Wealth Simple or other trading platforms?

Unfortunately, again, kids under 18 can’t open bank accounts or investment accounts. If a parent does open any of these accounts they need to be aware that these are called informal trust accounts. In short, that means when your child is 18, they can take over the account completely and withdraw all the money without your approval.

Child Plan™ is a Participating whole life insurance plan that offers the security and flexibility that can give your kids more freedom to use the money that has been set aside for them for any education without restrictions, to buy a home or for anything they dream of. This alternative education savings plan is easier to use, allows for savings to be applied to schooling outside of Canada, and locks in a low cost insurance rate for your children’s future.

A Better Way to Save for the Future

With Child Plan™, just fourteen days after your child or grandchild is born you’ll be able to begin ensuring that they can follow their dreams, whether that means going to the best university in the country, buying their first home right out of school, or opening their own business.

This tax-free investment in your child’s financial security puts savings aside for them, where it can grow tax-free throughout their life, and then be used for any educational or financial plans in their future. Whether you are a parent, grandparent, aunt, or uncle, you can start investing on their behalf!

If financial security is something you want your children or grandchildren to have in the future,


As Canada’s leader in financial planning for children, Child Plan™ is committed to helping parents and grandparents plan for their children’s futures. Whether their dream is to get a first-rate education, buy their own home, start their own business one day, or travel the world helping others, Insurance for Children helps parents invest in their children to achieve their dreams. Whatever they may be!