Insurance Service

RESP - Education Savings Plan

Invest in your child's future with government grants and tax-deferred growth. Build education savings that grow with your family's dreams.

RESP - Education Savings Plan coverage and planning
Service Overview

Invest in Education, Invest in the Future

A Registered Education Savings Plan (RESP) is one of the best ways to save for your child's post-secondary education. With government grants that can add thousands to your savings and tax-deferred growth, every dollar you contribute works harder for your child's future.

Key Features

Maximize Your Education Savings

Take advantage of government incentives and investment growth

Government Grants & Bonds

Receive substantial government contributions to boost your savings.

  • Canada Education Savings Grant (CESG) - 20% match
  • Additional CESG for lower-income families up to 40%
  • Canada Learning Bond up to $2,000
  • Provincial education savings incentives

Tax-Deferred Growth

Investment growth accumulates tax-free until withdrawal for education.

  • No tax on investment growth while in plan
  • Wide range of investment options available
  • Professional investment management available
  • Self-directed investment options

Flexible Family Options

Plans designed to work for families of all sizes and situations.

  • Individual plans for single beneficiaries
  • Family plans for multiple children
  • Beneficiary substitution within family
  • No annual contribution limits
Detailed Information

RESP Benefits & Qualifying Programs

RESP funds can be used for a wide variety of post-secondary education options, giving your child flexibility in their educational choices.

Post-Secondary Programs Covered

Wide range of qualifying educational institutions and programs

  • Universities and colleges in Canada and abroad
  • Trade schools and apprenticeship programs
  • Part-time and full-time studies
  • Professional certification programs

How RESP Works

Simple process from opening to using your education savings

  • Open RESP and make contributions
  • Government adds 20% through CESG
  • Investments grow tax-deferred over time
  • Withdraw funds for qualified education expenses

Tax Benefits

Maximize your tax efficiency with RESP strategies

  • Educational Assistance Payments taxed in student's hands
  • Typically lower tax rate for students
  • Return of contributions is tax-free
  • Accumulated Income Payments if not used for education

Give Your Child the Gift of Education

Start saving today and watch government grants and compound growth build your child's education fund.