A client recently told their advisor, "I've already maxed out the RESP for my granddaughter. What's another meaningful way I can help her in the future?"
The client wasn't looking for another investment account. They wanted to create something that could potentially help with a first home, a future business opportunity, retirement, or simply leave a lasting family legacy.
That's where a participating whole life strategy may be worth exploring.
With a Desjardins participating whole life policy on a grandchild, clients can:
• Preserve the child's future insurability
• Build tax-advantaged cash value over time
• Retain control of the policy while the child is growing up
• Potentially transfer ownership to the grandchild in the future, subject to applicable tax rules
Many grandparents have already funded education savings. The next conversation may be about creating a legacy that extends well beyond tuition.
Have a client who wants to leave more than an inheritance? Let's connect.