Canadian parents are facing a planning paradox. They want to protect their families and save for their children’s education, yet these decisions are often made in isolation — leading to underinsurance on one side and underfunded RESPs on the other.
A new partnership between digital life insurance provider PolicyMe and education savings leader Embark aims to solve that disconnect.
To understand how the collaboration works in practice — and why it matters — Fintech.ca spoke with PolicyMe CEO and Co-Founder Andrew Ostro.
In the interview below, he explains how embedding life insurance directly into the RESP journey helps parents make long-term financial decisions as part of one connected plan, rather than two separate and competing priorities.
What gap in the market does the PolicyMe–Embark partnership actually solve for Canadian families?
AO: Most parents think about RESPs and life insurance separately, which often leads to underinsurance on one side and underfunded education savings on the other. Our new partnership closes that gap by bringing life insurance into the conversation at the same moment parents begin planning for their child’s education. It helps families see both needs as part of one plan rather than competing financial decisions.
How does introducing life insurance at the point of opening an RESP improve long-term financial planning for parents?
AO: Opening an RESP is usually the first moment parents seriously think about their child’s future. It is when they are most engaged and receptive to understanding broader risks and trade-offs. Introducing life insurance at that point allows families to secure coverage earlier, align protection with real education and household costs, and avoid periods where their family might be financially exposed if something unexpected happens.
Many parents feel overwhelmed by financial decisions. How does this partnership of PolicyMe and Embark can simplify the journey rather than add another step?
AO: The goal is to make planning easier, not more complicated. Embark clients stay within the experience they already understand, and life insurance appears as a clear, relevant next step. It feels like part of one connected journey instead of an extra task they need to manage.
Is this integration fully digital, and what does the experience look like for an Embark client being introduced to PolicyMe?
AO: The experience is fully digital. After opening an RESP with Embark, eligible clients are introduced to PolicyMe’s platform, where they can get an instant quote, see personalized recommendations, and complete an application in minutes. There is no paperwork and no back-and-forth scheduling. The aim is a smooth, consistent process where Embark supports education savings, and PolicyMe supports financial protection.
Why partner with Embark now, and how does this fit into PolicyMe’s broader distribution or B2B2C strategy?
AO: Embark is a natural partner because its entire focus is on education savings and planning for families, which aligns directly with PolicyMe’s mission of making protection simpler and more accessible for Canadian households. Timing-wise, PolicyMe has been expanding its B2B2C footprint, and embedding our digital insurance rails into trusted platforms like Embark is a key part of the strategy to meet parents where they already are, instead of asking them to start from scratch.
What indicators suggest that Canadian families want more bundled or holistic financial planning solutions?
AO: Families are showing a stronger interest in tools that help them connect the different parts of their finances. Parents are looking for planning experiences that bring savings, insurance, and education goals together. PolicyMe hears this directly from customers who often ask how RESP contributions should fit alongside life insurance decisions. Their questions show that parents see these choices as linked even though the industry has traditionally treated them separately.
Will we see deeper integrations between the two platforms in the future or is this focused solely on education savings and life insurance?
AO: The priority right now is this partnership, linking education savings with life insurance in a way that helps parents plan better for their families’ financial futures. There is room to explore deeper integrations over time, but those decisions will be shaped by what families actually use and value rather than integrating for the sake of it.
How does this partnership strengthen the long-term mission for both PolicyMe and Embark when it comes to supporting Canadian families?
AO: This partnership strengthens both organizations’ missions by bringing life insurance and education savings together in one simple experience for families. It connects two core pillars of financial security so parents can plan for both protection and education with more confidence. The collaboration also includes joint financial literacy efforts, helping families understand how these decisions fit together. Overall, it reflects a shared commitment to giving Canadian parents a more complete and accessible approach to long-term financial planning.
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