Perhaps surprisingly, 1in 7 Canadians will develop a prolonged medical condition during their lifetime. Fortunately, the Federal Government of Canada has established a number of program to help those living with a mental and/or physical impairment. The most prolific of these programs is called the Registered Disability Savings Plan (or RDSP).
Someone who markets Disability Plans helps a person that qualifies to open their registered accounts and collect the associated benefits.
The RDSP is designed to help those living with a prolonged health condition to have enough money for their future. Some of the benefits of the RDSP include:
• The Canada Disability Savings Bond (CDSB) - represents $20,000 in deposits made by the Federal Government of Canada. This is literally 'free' money. If a person qualifies, all they need to do to capture the Bond is open their registered account (55% of all account holders qualify for the Bond).
• The Canada Disability Savings Grant (CDSG) - is the matching program associated with having a registered account. The Federal Government of Canada will match any deposits made (with annual and lifetime limits) at a rate between 100% - 300%. If a person deposits $100 into their registered account, the government will deposit an additional $100-$300 into their account. The maximum amount of Disability Grant that a person may receive during the lifetime of their RDSP account is $70,000.
• Tax-deferred growth - the funds invested, and the growth, are not taxed until they are withdrawn, allowing increased compounding to occur.
The Registered Disability Savings Plan is a phenomenal program that helps those that need it most.
The RDSP is a relatively new program (established in 2008). Only 32% of people who are eligible actually have a registered account (RDSP) that allows them to collect the $20,000 Disability Bond and/or the $70,000 Disability Grant. An astounding 68% of those that are eligible have yet to open their account. Why? Because no one has told them about it. This represents a tremendously underserved market that companies are now aggressively looking to capture.
The following types of opportunities are currently available for companies that are marketing Registered Education Savings Plans programs:
• Part-Time (approximately 5-15 hours a week)
• Transitional (beginning part-time with the intention of moving to full-time)
• Full-Time (30+ hours a week)
Pay Structure: Commission + Bonus + Residuals
Potential for Career Upward Mobility: High
Complementary License(s): Life Insurance
Restrictions: Must work within province of residence, may not hold an RESP license.
Training & Development Provided: Yes
Level of Responsibility: Moderate
Required Previous Experience: None
We align Canadians with new career opportunities with leading financial organizations that promote a healthy work/life balance.
