Great-West Lifeco and Canada Life to hold annual meetings in a virtual-only format
Annual meetings to be held virtually on Thursday, May 5
News and highlights
September 9, 2021
Winnipeg, MB, September 9, 2021. . . A recent Canada Life study found that while the majority of Canadians (92 per cent) are aware of Registered Education Savings Plans (RESPs), less than half (49 per cent) are currently using this savings tool. Additionally, a mere 17 per cent claim they’re knowledgeable about the contribution limits and benefits they offer.
“With the rising cost of post-secondary education, a RESP can be one of the most effective ways to save for your child’s education while helping them avoid excessive student debt in the future,” said Paul Orlander, Executive Vice-President, Individual Customer, Canada Life. “At the same time, many Canadian parents need expert guidance and financial advice to help make the most of RESPs. Canada Life is here to help with that.”
“An advisor can assist in opening a RESP and help you maximize all of its benefits,” said Orlander. “Every Canadian has their own unique needs, and an advisor can help you every step of the way – you don’t have to figure it out alone. They can provide you with tailored advice and a plan that works for you.”
Orlander notes that there are several benefits parents – or anyone contributing to a RESP – will see when they maximize their investments:
For more information on finding the right investment options for you, visit canadalife.com/investing.
These are the findings of a study conducted by Canada Life from August 3 – 9, 2021, with an online sample of n=1,510 Canadian adults who are members of the Angus Reid Forum. The margin of error for a probability sample size of 1,501 is ± 2.5% 19 times out of 20.
1 Knowledge First Financial, Projected Costs of a Four-Year Program, https://knowledgefirstfinancial.ca/learn-about-resps/future-education-costs.aspx - Opens in a new window
Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we’ve made.
On January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve more than 12 million customer relationships from coast to coast to coast.
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Liz Kulyk
Assistant Vice-President, Media & Public Affairs
The Canada Life Assurance Company
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Media.Relations@canadalife.com
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