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From $180 Diaper Bags to $900 Strollers, Parents Want the Best For Their Children

“At the end of the day, the most overwhelming key to a child’s success is the positive involvement of parents.”

Jane D. Hull

Parents have dreams and hopes for their children – a better life, good education, great job, wonderful family of their own. As time goes by the cost of living, post-secondary education and raising a family continues to rise at an alarming rate. According to Statistics Canada, the average household annual expenditures in Toronto are:

  • Housing $17,185
  • Personal Taxes $18,488
  • Transportation $10,676
  • Food $8,132
  • Personal Insurance Payments & Pension Contribution $5,734
  • Recreation $3,549
  • Household Operation $4,053
  • Health Care $1,824

This list does not take into account post-secondary education for your children, clothing or other personal expenses.

According to the Canadian Centre for Policy Alternatives, “The price tag for a university degree is significant: when books, living expenses and transportation costs are added to tuition and other compulsory fees, the cost of a four-year university education is estimated to reach over $80,000.” I’ve seen estimates for the costs of a university education for children born this year at $140,000 – $160,000 and this does not include books, living expenses, transportation costs and other fees.

As parents we have our hearts in the right place and the best of intentions. We may have no problem affording a $180 diaper bag or a $900 stroller, but what about $140,000 – $160,000+ for a university education?

Did you know that for the price of two lattes a day, your child can go to university, buy a home for their family and have the financial freedom to pursue their dreams?

Child Plan can help your dreams for your children come true. Contact us today and find out how.

Sample Child Plan™ Cash and Insurance Value Illustration

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 for a child under age 1 based on a monthly deposit of $250 for twenty years. There will be no further contributions required after year twenty. The cash and insurance values are based on a dividend interest rate of 6% from a Canadian life insurance company.

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.

*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.