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INVEST in their future.
INSURE them for life.
RESP's are a great way to save for the future.
But they aren't the only way.
How can a Whole Life Insurance Policy benefit you & your child?
give your child a head start with
A Child Policy
Keep Readng.
What Is Whole Life?
It's An Insurance policy That provides a child with:
guaranteed cash value
tax advantaged growth
permanent insurance for life
It's a savings vehicle & an insurance product rolled into one.
How Does It Work?
GROWS IN VALUE As They Grow
Invest
A small investment into a Whole Life policy pays for the insurance & accumulates a cash value for the child's future.
The cash value is the savings component of a whole life insurance policy. It also grows tax-deferred. The policy owner can borrow against the cash value or surrender the policy for the money at a later date. A certain portion of the cash value is guaranteed.
Most Canadian families receive a tax-free monthly payment (Canada Child Benefit) for each child in the home - an easy way to invest a monthly amount without drawing from other places in the family budget.
If a child develops a medical problem early in life they may not qualify for coverage later in life.
When a child is insured at a young age, they usually have guaranteed insurability for later in life - regardless of their future health. And they can even buy more insurance as an adult.
A Whole Life policy for a child provides them with guaranteed insurability as young as 14 days old. When the child is older, the policy is transferrable to them anytime after they turn 18 years old. It is also transferrable to a different parent or guardian at any time.
PROTECT A CHILD Against
Future Health Concerns
Insure
Parents aren't the only ones who can purchase a policy for a child. A grandparent, aunt, uncle or legal guardian can also give a child the gift of a secure future with a participating Whole Life Policy.
The cash value of the policy is a GIFT that can fund:
- Future Education
- A Down Payment For A First Home
- Future Business Ventures
- A Variety of Other Needs
Give
GIVE A GIFT
For the Future
SAMPLE ILLUSTRATION
What is an illustration you ask?
Good question! (HINT: It's Not Artwork...)
An illustration will show you the annual dividends and cash value of your child's plan based on the amount of contributions over the lifetime of the policy!
