Frequently asked questions

What is the bright start Child plan?

The Bright Start Child Plan is a participating whole life insurance plan that has a tax-sheltered investment component.  Parents and grandparents have been opening this plan for their children and grandchildren in Canada as far back as 1849.

What is "participating" whole life?

It is a tax-efficient asset accumulation vehicle providing guaranteed cash values along with lifelong life insurance coverage.

How much can we save for our child's future?

Please click on the "Request Personalized Illustration" to select different savings options for your child.

What happens if my child does not go to school?

That is a major advantage of the Child Plan over the RESP plan as there are no restrictions on how the funds are used and no penalties are imposed.

Who can open a plan?

Parents, grandparents, aunts, uncles and legal guardians.

How old does my child have to be to open a plan?

You can apply once your child is 14 days old.

Is there a minimum monthly contribution amount?

The minimum monthly contribution is $50.

How do I open a plan?

In order to open a plan we would book a short call to complete an application.  Get started by requesting a free illustration.

How safe is this product?

Very safe!  This plan is with Canadian insurance companies dating back over 100 years.  There is also a non-profit organization called Assuris that protects plan holders from loss.

Is this plan also available for adults?

Yes!  Parents often ask this question when they see the savings potential of the Child's Plan.  Parents tend to open this plan in addition to or in place of an RRSP plan as this plan can be more tax-efficient .