Comments on: Is Your RESP Protected by Deposit Insurance?

By: Paula

Paula — Mon, 09 Apr 2018 16:21:20 +0000

In reply to Kyla. Right? Me too. That's why I checked it recently. WHEW. Also happy to see those CDIC stickers up on financial institutions where I bank.

By: Paula

Paula — Fri, 09 Jun 2017 02:47:11 +0000

In reply to Sandy. Thanks Sandy! I didn't know much about it actually and was also surprised by the 43 failures as well.

By: Kyla

Kyla — Fri, 09 Jun 2017 00:06:29 +0000

Wow. I had never heard of this before. But, I do pack a ton into that damn little RESP.

By: Carla

Carla — Thu, 08 Jun 2017 20:01:26 +0000

We have RESPs for both of our boys and I never new about insurance for them! That is terrifying that all of your investments could be gone – especially when you start saving when they are so young! Definitely looking into this.

By: Sandy

Sandy — Thu, 08 Jun 2017 19:13:01 +0000

I’ve always understood how important CDIC insurance is, however, I was shocked to read that there have been 43 failures of Canadian financial institutions. Wow. Thanks for sharing this great info.

By: ashley p

ashley p — Thu, 08 Jun 2017 19:00:36 +0000

We don’t have RESPs for the kids, but insurance isn’t something i would have thought about

By: Heather LYnne

Heather LYnne — Thu, 08 Jun 2017 18:00:11 +0000

I had never even heard of deposit insurance before! I need to re-read your post now 😉

By: gingermommy

gingermommy — Thu, 08 Jun 2017 17:32:43 +0000

I had no idea Canada deposit insurance was a thing. I better find out if we are covered

By: Laura

Laura — Thu, 08 Jun 2017 17:20:19 +0000

When we started RESPs for the kids we were given a bunch of different sheets and pamphlets and I know one was the CDIC but I had no clue what it was and never thought of looking into it. Now I know! I honestly never really thought about having insurance on that investment but it is a good thing to have. Thanks for the info!

By: Monica Parlee

Monica Parlee — Thu, 08 Jun 2017 15:04:23 +0000

Saving for post-secondary education is tough enough, I just assumed our investment was protected….my bad! Plus, I had no idea financial institutions in Canada could fail….let alone 43 of them in the past 50 years. Checking this out right now, thanks for the heads up!.