Set Your Child Up for Lifelong Success with the Million Dollar Baby Plan
As a parent or grandparent, you want to provide the best opportunities for your child. The Million Dollar Baby Plan is a powerful strategy designed to grow tax-free, funding major life milestones like education, a home, or even retirement, ensuring financial security and flexibility throughout your child's life.
Built on Proven Insurance Strategies Trusted by Thousands of Canadian Families
The Million Dollar Baby Plan offers your children or grandchildren tax-free growth and access to funds for major life milestone events — ensuring financial security for education, home purchases, business ventures, and a lasting legacy for future generations.
By starting early, you let your child leverage the power of compound growth and life insurance tax advantages to build a significant financial security asset over time.
What is the Million Dollar Baby Plan?
The Million Dollar Baby Plan is a long-term wealth-building strategy using a specially structured high cash value life insurance policy. With the right contributions, it can grow into a substantial financial asset by the time your child reaches adulthood.
This plan offers unmatched financial security and flexibility to support your child's key life events such as education, home buying, and business ventures.
Unlike market-dependent savings, this plan uses a guaranteed, secure whole life insurance policy. It’s designed to grow predictably, without market volatility — giving you peace of mind, flexibility and long-term wealth your family can count on.
How it Works
The Million Dollar Baby Plan uses high cash value life insurance to grow wealth tax-free, access funds when needed, and transfer assets tax-free to the next generation, ensuring financial stability and a lasting legacy for your family.
Set Up a Whole Life Insurance Policy
You, as the parent or grandparent, purchase a specially structured whole life insurance policy for your child or grandchild that's designed to grow very high cash values.
Grow Cash Value Forever
Watch the policy’s value grow steadily every year — tax-deferred within CRA rules — so you’re not just saving, you’re building a solid and stable financial legacy.
Leverage for Major Milestones
The cash values can be accessed quickly and easily through loans or withdrawals to fund any of life's major milestones like education, a down payment on a home, a wedding, or even a business startup.
Pass On a Legacy
When your child or grandchild reaches financial maturity, ownership of the policy can be transferred to them, tax-free. The policy also provides a guaranteed life insurance benefit for their future family.
Benefits of the Million Dollar Baby Plan
Canadian parents and grandparents can grow wealth for their kids, fund life milestones, and build a lasting legacy in a secure and tax efficient way.
Financial Flexibility
This plan gives you massive flexibility. Use the funds for education, a home down payment, starting a business, or anything else that supports your child’s journey. It’s their financial launchpad for any of life's major purchases.
Stay in Control
As the parent or grandparent, you keep full control and decision-making power over the plan — until you choose to pass it on. You choose when your child is ready to manage their own wealth. It’s wealth you build, guided by your values and timing.
Generational Legacy
Give them more than money — give them peace of mind for life. This plan includes permanent life insurance protection, so your gift continues well into adulthood and even the next generation.
Tax-Advantaged Growth
Let your money work quietly and powerfully behind the scenes. The cash value grows year after year — tax-deferred — so you don’t have to worry about taxes eating into your child’s future.
Secure and Predictable
Unlike market-dependent investments, whole life insurance offers steady, proven, reliable growth for generations - professionally managed by some of Canada's biggest and oldest insurance companies.
Create a Self-Funding System for the Future
Set it and forget it. With the right structure, the plan can continue to grow even after you no longer contribute. It’s like planting a tree that keeps growing — providing shade and fruit for decades.
No Government Strings Attached
Unlike registered plans, this private contract stays between you and the insurance company. No government interference, use the money for any reason, no income restrictions and no mandatory withdrawals.
Teach Financial Literacy by Example
Show your child or grandchild what smart money decisions look like. As they grow, they’ll inherit not just financial security — but the mindset that built it.
Ready to Get Started?
If you’re interested in creating a Million Dollar Baby Plan for your child or grandchild, let’s talk. Contact us today to explore how this strategy can work for your family and build a brighter future for generations to come.
Secure Your Child's Future TodayRESPs Are Great for Education. This Plan Goes Beyond.
The Million Dollar Baby Plan is a great complement to an RESP Registered Education Savings Plan. Together, these financial tools can help build a strong and stable financial future for your child or grandchild.
Advantages of an RESP
- Government matching grants of 20% makes RESP an attractive option for education savings.
- Widely known and easy to set up - we can help you set up an RESP at the same time as a Million Dollar Baby plan.
- Take advantage of market investments to grow your child's RESP value over time.
Disadvantages of an RESP
- Funds can only be used for post secondary education.
- $50,000 lifetime contribution limit is not enough for some families.
Advantages of the Million Dollar Baby Plan
- Funds are not restricted to education; they can be used for any purpose.
- The plan continues to grow and provide value well after your child has finished school.
- Builds a legacy with lifelong insurance coverage and benefits.
- This financial security asset gives your child the freedom to think big and take risks knowing they have a solid financial foundation for their whole life.
Real Numbers
Here is an example of a parent who funds the child's Million Dollar Baby plan with $250 per month for 20 years and then stops.
A Legacy for Generations
By setting up this plan, you’re planting a seed for a financial tree that will support your child and future generations. The policy’s death benefit can pass on wealth to your grandchildren or great-grandchildren, ensuring a lasting legacy for your family.
The Million Dollar Baby Plan is a term we coined to highlight this innovative use of life insurance. While the concept has existed for years, it’s not a bank product, and that’s probably why most Canadians have never heard of it.
It’s a private strategy used by savvy families who understand how the wealthy build lasting legacies.
You can start funding a Million Dollar Baby plan for your child or grandchild as soon as they are born.
Client Testimonials
See how our strategies have been successful from our clients.
"We worked specifically with Jordan who was knowledgeable, thorough, and patient."
We worked with Safe Pacific Financial to help us find the right life Insurance policy for us, and we are very happy with the service they provided. We worked specifically with Jordan who was knowledgeable, thorough, and patient with our many questions. We would certainly work with Safe Pacific Financial again and would recommend them to friends and family.
"Jordan was amazing to work with!"
Jordan was amazing to work with! He was patient and understanding when it came to answering all my questions and concerns. I highly recommend Jordan for any financial needs!
"Jordan was able to explain them in a simple and digestible manner."
My wife Brooke and I had a great experience working with Safe Pacific and their team. Although some of the insurance industry and the investment products can be complex, Jordan was able to explain them in a simple and digestible manner which really helped us to understand the long term value. I would highly recommend the Safe Pacific team and we look forward to working with them more in the future.
"Had a great experience with Safe Pacific."
Had a great experience with Safe Pacific. As someone who doesn't understand the business of insurance, I was not stressed at all with the process and Jordan and his team made it smooth and explained the entire process. They were responsive in a timely manner and helped me get a great deal on my disability insurance. Would highly recommend!
"Would highly recommend their services and support."
Jordan and Megan were very helpful in helping my partner and I secure term insurance and CI insurance. We talked with both of them about our current situation and context, and Jordan was able to walk us through the options and clearly laid out his recommendation. He answered all of our questions and followed up promptly as we moved along with the selection and registration process. Would highly recommend their services and support.
"They always make me feel like a priority."
The great thing about working with Safe Pacific is the personal touch they add to the service and how they always make me feel like a priority. Thanks Laurent and Rob for taking care of me.
"I highly recommend them to my colleagues."
I have worked with Robert Trasolini and Laurent Munier several times and I find them extremely helpful when it comes to Life, Critical illness and Disability insurance. They are able to explain things clearly and are really great guys to work with. I highly recommend them to my colleagues, clients and friends.
"Every step of the process."
Robert recently helped me acquire life and critical illness insurance. Not only did he explain every step of the process and walk me through it in a thorough and detailed manner, but Rob is great at taking complex terms and concepts and explaining them in simple, easy to understand manner.
Take the Next Step
Whether you're a parent or grandparent, we’ll show you exactly how the Million Dollar Baby Plan could work based on your family's budget and goals.
We’ll walk you through how it grows, how to access the funds and how to structure it to create long-term generational wealth.
Let’s explore what this could look like for your family — no pressure, no obligation. Just a conversation to help you make an informed decision.
Secure Your Child's Future Today
