Savings & Investments
Registered Education Savings Plan (RESP)
An RESP is perhaps the best tool to invest for your child’s post-secondary education. Parents, grandparents and friends can contribute to their RESP savings plan anytime.
About Registered Education Savings Plan (RESP)
An RESP is perhaps the best tool to invest for your child’s post-secondary education. Parents, grandparents and friends can contribute to their RESP savings plan anytime.
Post-secondary tuition fees have increased dramatically over the years. Meanwhile, youth unemployment remains a concern – for graduating students and parents alike. Take the steps now to help your child graduate debt-free. Without a huge financial burden hanging over their head, they can make the right, calculated decisions to set their career on track.
Why RESP education savings?
An RESP is perhaps the best tool to invest for your child’s post-secondary education. Parents, grandparents and friends can contribute to their RESP savings plan anytime. The contributions are non-tax deductible and the federal government contributes a certain amount to help the savings grow.
No matter the age of your children, they deserve the best RESP registered education savings plan, which could include:
- Federal grants of up to $500 per year
- Canada Education Savings Grant of 20–40% of your contribution, up to a lifetime maximum of $7,200
- An education bonus of 15% of the contributions
- Tax-free growth for your savings
Speak with a Life100 advisor to learn more and find out about all our RESP savings plan solutions in Toronto, Brampton, Ajax, Markham or anywhere in the Greater Toronto Area and Ontario.
How Life100 places it
Your advisor puts the carriers on our panel side by side and explains the trade-offs in plain terms.
Advice and quotes are free. You only pay a premium once you decide to go ahead.
Your advisor reviews the plan as your circumstances change, not just on the day you sign.
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