Best Life Insurance for Children in Canada

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A Participating whole life insurance for children, a secure and flexible way of investing in the child’s future, giving them a head start for tomorrow. This plan provides your child lifetime protection, and emphasis on long-term growth of values, which give them a head start for any financial need in life including education, down payment on a home or starting a business.

How Child Plan Will Grow For Their Education

Its “Participating” Whole Life plan also doubles as an education fund.
Guaranteed cash value grow tax-free from the day you open it.
Annual tax-free dividends for life.
It can be given to your child, tax-free, anytime after they turn 18.
Its includes permanent whole life insurance that grows in value throughout your child’s life for future generations.

Sample illustration* of Children plan Cash and Insurance Values:

Based on a monthly deposit of $250 per month You may be able to use the Canada child benefit to pay the premium

Age	Accumulated Cash Value	Insurance Value
21	$68,319 (Education)	$607,899
35	$163,143 (House)	$728,670
45	$285,445 (Security)	$936,584
64	$763,488 (Retirement)	$1,430,775

*Sample illustration is based on a $250 monthly premium for 20 years, starting when the child is less than 1 year old. Cash and life insurance values are based on the current dividend scale of 6.25% from an Equitable Life Insurance Company. This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed, and values may differ.

Features and Benefits of the Plan:

You can open a participating -whole life insurance plan for your child as early as 14 days after birth.
Plan is permanently funded after 20 years. No further deposits will ever be required.
It provides your child annual dividends
Cash values can be used by your child for any financial need in their lifetime including education, down payment on a home, starting a business, even to provide financial security for their future family
Plan can be opened by parents, grandparents, aunts and uncles or legal guardians.
Premiums are guaranteed.

Advantages

Low initial cost – affordable
Premiums guaranteed
Renewable and Convertible feature
Customized to meet specific needs
Death benefit is paid tax free

Disadvantages

Temporary coverage
Premium increases as life insured ages
Coverage not available past a certain age
Policy is worthless at end of term
No cash value

Rashmi, a client of Vertex Insurance and Investments Inc., was asked what made her realize it was time to buy life insurance? Listen to her story!

Gurlove

A Single Mother of 3 grown-up children, a client of Vertex Insurance

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Disclaimer : Vertex Insurance and Investments Inc. is an insurance agency licensed to sell life and travel insurance products in Ontario. Our website’s content is tailored towards Canadian residents and visitors coming to Canada. Any variations between the rates mentioned on our website and shown in the specific company’s software, the latter will be considered final. Please see the policy documents for full disclosure of the terms, conditions and exclusions. The logos and the trademarks used on the website are owned by the respective entities.

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life insurance for children

How Child Plan Will Grow For Their Education