whole life insurance

Setting your child up for security and success

Make sure they’re ready for life, every step of the way

Progress Group Insurance offers comprehensive whole life insurance plans covering children that offer permanent protection with guaranteed premiums, cash values, and death benefit. As a parent or grandparent, you want your children or grandchildren to take smart steps in life. Why not lead by example and help them take the first step for their financial security today by investing in their future at an early age?

Contributing into a whole life insurance plan provides guaranteed lifelong coverage so you can take comfort in knowing that you’re protecting the things that matter most. But it’s more than insurance. Over time, a policy can build value that can be accessed to support your loved ones to pay for larger expenses such as their education, a down payment on a first home, starting a new business or even contributing to their retirement savings. No matter your unique situation, this plan can help.

START AS EARLY AS 14 DAYS AFTER BIRTH

Making contributions to a whole life insurance plan for your child or grandchild is easy. Plans can be customized to meet your budget and their needs. Contributions into a plan can begin for them as early as 14 days after birth and can be opened by any parent, grandparent, aunt or uncle, or a legal guardian. Your plan will be permanently funded after 20 years. No further deposits will be required. The plans also provide your child with an annual tax-free dividend every year for the rest of their life and the accumulated cash values can be used for any financial need in their life.

Benefits for parents 

As a parent, you can transfer a whole life insurance plan tax-free to your children any time after they turn 18, and still be able to control the use of the plan’s cash values, even after transferring it to your child. Life can be unpredictable. A whole life insurance plan provides greater peace of mind. You’ll be able to financially protect your children should the unthinkable occur, and you’ll also be able to continue to play a long-term role in helping your children decide how best to use their plan’s annual cash values.

A gift with permanent legacy

Wouldn’t it be great to provide your grandchildren with a gift that continues to give for the rest of their lives? Life insurance may seem like an unusual gift, however, life insurance can be an exceptional gift that leaves a lasting legacy. Because the cash value in a whole life insurance policy grows on a tax-advantaged basis, it can provide solid returns and is a stable investment option that can be accessed by the child when needed. Unlike portfolio investments or regular savings, life insurance proceeds are not subject to any form of estate tax, which means you can be assured you helped your family enjoy what you’ve worked so hard to build.

A gift with permanent legacy

Wouldn’t it be great to provide your grandchildren with a gift that continues to give for the rest of their lives? Life insurance may seem like an unusual gift, however, life insurance can be an exceptional gift that leaves a lasting legacy. Because the cash value in a whole life insurance policy grows on a tax-advantaged basis, it can provide solid returns and is a stable investment option that can be accessed by the child when needed. Unlike portfolio investments or regular savings, life insurance proceeds are not subject to any form of estate tax, which means you can be assured you helped your family enjoy what you’ve worked so hard to build.

sample plan projections

Based on a deposit of $2500 a year for 20 years

Based on a deposit of $1500 a year for 20 years

(1) Sample illustration is based on stated yearly premiums for twenty years, starting when the child is less than 2 years old. (2) Cash and Life Insurance values are based on the current dividend scale of 6.2% from a Canadian Life Insurance Company. (3) This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed and values may differ.

sample plan projections

Based on a deposit of $2500 a year for 20 years

Based on a deposit of $1500 a year for 20 years

(1) Sample illustration is based on stated yearly premiums for twenty years, starting when the child is less than 2 years old. (2) Cash and Life Insurance values are based on the current dividend scale of 6.2% from a Canadian Life Insurance Company. (3) This example is strictly for illustrative purposes only, the annual dividend scale is not guaranteed and values may differ.

The Independent Advantage

Progress Group Insurance is a proudly independent insurance provider, free from third party influence. Our only incentive is to offer you the best solution. We leverage established and deep relationships with an extensive list of reputable insurance companies to make sure you are matched with the right coverage from the right carrier at an excellent value.

The Independent Advantage

Progress Group Insurance is a proudly independent insurance provider, free from third party influence. Our only incentive is to offer you the best solution. We leverage established and deep relationships with an extensive list of reputable insurance companies to make sure you are matched with the right coverage from the right carrier at an excellent value.

SERVICE Details

Tailored insurance solutions for your needs

Progress Group Insurance’s comprehensive offerings include:

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Life Insurance

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Critical Illness

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Income Replacement

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Group Benefits Solutions

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Estate Planning

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Private Health Plans

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Business Owner Solutions

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Mortgage Insurance Solutions

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Travel Insurance

Partner, Insurance

Peter

Graceffa

CONTACT

(905) 448 3495 x5917

CONTACT US

GET IN TOUCH

We’d love to work with you. Let’s talk.

Oakville Office
860 Progress Court
Oakville, ON L6L 6K1

Toronto Office
67 Mowat Ave, Suite 441
Toronto, ON M6K 3E3

(905) 448 3495

(289) 919 2494

Partner, Insurance

Peter

Graceffa

CONTACT

(905) 448 3495 x5917

CONTACT US

GET IN TOUCH

We’re ready when you need us. Let’s talk.

[email protected]

Tel: (905) 448 4395

Fax: (289) 919 2494

Oakville Office
860 Progress Court, Oakville, ON L6L 6K1

Toronto Office
67 Mowat Ave, Suite 441, Toronto, ON M6K 3E3