Million Dollar Baby Plan

The Million Dollar Baby™ Plan – Invest in your child’s future

The Million Dollar Baby Plan is an asset class of life insurance called participating whole life insurance. Each policy has a guaranteed cash value and every year, a tax-free dividend is paid into this cash value. These policies have existed since 1847, and a dividend payment has never been missed.

Why choose a Million Dollar Baby™ Plan?

  • Tax-free growth,
  • Use the funds for tax-free income,
  • You can open a plan for your child as early as 14 days after birth,
  • Cash values can be used by your child for any financial need in life including education, down payment on a home, starting a business and even to provide financial security for their future family,
  • You can use the funds in the plan, while it continues to grow,
  • Steady, predictable growth*,
  • Parents, grandparents, legal guardians, aunts or uncles can open these plans and will own and control the policy for as long as they like,
  • Ownership can be handed over to the child at any time, tax free, after they turn 18,
  • Because it’s a life insurance plan, your child will be permanently covered, regardless of any illness that may arise,
  • This is an asset that either you, or your child, can use for retirement,
  • It’s completely funded after a 20-year period. No further deposits are required.

The Million Dollar Baby™ Plan is an asset that grows every year, and unlike an RESP it can be used to fund any purchase in your child’s life, not just education!

Insurance Plan, Investments? So What are We Talking About?

The Million Dollar Baby™ Plan is an investment vehicle that produces stable returns, regardless of market volatility, and will create long lasting wealth. *Canada Life has paid a dividend of over 5.9% every year into their participating policies since 1950. The cash value of the Million Dollar Baby Plan™ can only go up in value!

You can access your investment money tax free at any time and for any purpose. The unique advantage about The Million Dollar Baby™ Savings Plan is that, when you access the money, your account looks like you’ve never touched a dime, and have not interrupted the compounding interest growth in your account.

Million Dollar Baby™

Wealth Transfer

The Million Dollar Baby™ Savings Plan is the perfect solution to creating a tax efficient transfer of wealth. A participating whole life insurance policy contains the non-taxable benefits of permanent life insurance, which will enhance the value of your estate, but without the tax implications. This savings vehicle is the perfect investment strategy for your child, and to help ensure that they have a bright future. Best of all you’re able to use the funds for anything, including education, a down payment on a home, and or to even start a business.

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What Are You Waiting For?

Many individuals are aware of the death benefits of an insurance policy, but the living benefits are rarely heard of or unexplained. We assist our clients to create and control their own banking system utilizing Participating Whole Life Insurance in a way that would allow them to turn their expenses into a warehouse of wealth. Find out more by contacting us today!

Sample illustration of the Million Dollar Baby™ Cash and Insurance Values

Age Accumulated Cash Value Life Insurance Value
21 $80,607 (Education Fund) $610,093
35 $198,480 (Down Payment) $1,015,624
45 $356,305 (Security) $1,327,375
65 $1,059,065 (Pension) $2,114,961

Sample Illustration is based on a $3000 annually ($250 monthly) premium for twenty years starting when the child is less than 1. Cash and life insurance values are based on a current dividend scale of 6.5% from a Canadian Life Insurance Company. This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed and values may differ.