A Guaranteed Return Policy (GRP) is a specially designed Participating Whole Life Insurance Policy. This plan offers three major benefits: Guaranteed…
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Is GRP An RESP?
- CANADIAN CHILD SAVINGS PLAN
No, a GRP is not an RESP. While an RESP (Registered Education Savings Plan) is a government program with certain…
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What Is Participating Whole Life Insurance?
- CANADIAN CHILD SAVINGS PLAN
Participating Whole Life Insurance allows the policy owner to "participate" in the insurance company's profits. It provides guaranteed cash values…
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How Does One Access The Money In The Plan?
- CANADIAN CHILD SAVINGS PLAN
All cash values in the plan can be accessed by either terminating the plan or taking a policy loan for…
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Who Can Open A GRP Plan For A Child?
- CANADIAN CHILD SAVINGS PLAN
A GRP can be opened by a parent, grandparent, aunt, uncle, or legal guardian of the child.
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