announces the launch of Child Plan

The only alternative to RESPs in Canada

Toronto, ON (Sept. 15, 2014) – With the cost of a four-year degree expected to reach $130,000 by the time a child born today starts university, will the 20% or $7,200 in Canada Education Savings Grants on a parent’s deposit of $36,000 to their child’s Registered Education Savings Plan have any real impact on the cost of post-secondary education?

More and more parents are saying no and have started looking for alternatives. Many have found Child Plan™ from – a ‘Participating’ Life Insurance plan that also doubles as an education savings fund and the newest entry into the Canadian financial planning market.

“Participating Life Insurance plans have actually been used by Canadians as a reliable and safe way to save for their children’s education and financial future for over 100 years,” says Michael Lampel, President and founder of “They just haven’t been shown to parents by their banks or other financial advisors since the introduction of the RESP Government grants in 1998.”

While there are contribution limits with an RESP and the Government grants are only paid to the child’s age of 17, there is no maximum on how much a parent can contribute to a Child Plan™ and the Child Plan™ pays annual tax-free interest and dividends throughout the child’s entire life so cash values continue to grow even after the child completes their education.

The biggest difference, though, is the flexibility and freedom of Child Plan™ Unlike an RESP, parents will not have to close Child Plan™ or return any money if their child decides not to pursue post-secondary education or attend a school not on the government approved education list. The money can even be used by the child as a down payment on their first home or as a financial asset to fund a business.

Michael was one of the parents who rejected the 20+ years of financial advice given to Canadian parents. He went in a different direction, choosing instead to open a ‘Participating’ Life Insurance plan for his 9-month old daughter in 2010.

“My friends thought I was kidding when I told them I was using a life insurance policy as a savings plan for Elizabeth” said Michael. “When they saw how much more flexible it was than an RESP and how much accumulated cash value the plan will have for her future, they all wanted one.” And was born.

Another key benefit of Child Plan™ is that it can also be set up and opened by grandparents, which many of Michael’s customers were happy to learn. “A good chunk of my clients are grandparents who want to invest in their grandchildren’s education and future rather than just give them money to spend on holiday or birthday gifts.”

Child Plan™ from is ideal for families that want to work together to build a financial foundation for their children’s future.