Canadian Maple Leaf Card: The Invisible Rich in Your Life?

The "value" of Canadian maple leaf cards is really hard to estimate with specific numbers. The reason is that the benefits and advantages it provides cover many areas of life, and for everyone, their value has its own advantages. Below, I will list the main benefits brought by the maple leaf card in detail so that everyone can understand its value more intuitively.

Educational welfare

Canadian public schools implement 12 years of free compulsory education from kindergarten to high school, which is particularly significant for children holding maple leaf cards. Surprisingly, if international students study at primary and secondary schools in Canada at a tuition fee of 15,000 Canadian dollars per year, they can save up to 180,000 Canadian dollars in 12 years. If this fee is converted into RMB, it is about 1 million yuan!

The University of Toronto's higher education tuition fees, the cumulative fees for local students in four years range from 24,400 to 53,800 Canadian dollars, while the total fees for international students in four years range from 233,900 to 261,600 Canadian dollars. This difference is as high as 200,000 Canadian dollars, and if converted into RMB, it will exceed 1 million.

Medical benefits

Canada has implemented a comprehensive medical insurance system, and people with maple leaf cards can receive free medical care, which covers a variety of services such as medical treatment, hospitalization and surgery (usually, prescription drugs require personal out-of-pocket expenses). In Canada, medical expenses are generally high, and without medical insurance, individuals may suffer heavy financial burdens. Take the example of a major surgery, which may cost tens of thousands or even hundreds of thousands of Canadian dollars, but those who hold maple leaf cards do not need to bear these costs. From this perspective, the value of the maple leaf card is immeasurable, starting at least one million yuan.

Social Welfare

Milk money is a welfare system established by the federal government for children under the age of 18. The distribution standards are determined based on various factors such as family income level, number of children and age. For low-income families, the amount of subsidy available per month may reach three to four thousand Canadian dollars, which is undoubtedly a crucial financial support for families with children.

The government will provide financial support to children under 6 years old for preschool education based on the actual situation of the applicant. The subsidy amount may reach half or even be fully paid, and the subsidy will be directly distributed to kindergartens, thereby effectively alleviating the economic pressure on families in parenting.

The Canadian Pension (OAS) is to live for ten years and reach 65 years old, and the amount will be adjusted accordingly as the consumer price index (CPI) changes. As long as you live in Canada for 20 years after the age of 18, you are eligible for pension even if you live abroad.

All provinces in Canada have pension systems, and local residents need to allocate a portion of their monthly income as pensions to pay. Once they retire or are unable to work due to health problems, they are entitled to corresponding financial assistance.

Other benefits cover various forms such as unemployment insurance, paid leave, government-provided housing, income security allowances, and spouse allowances. Specifically, full-time employees will enjoy two weeks of paid leave every year after serving for one year; after working for five years, they will enjoy three months of paid leave every year; when unemployed, they can receive a subsidy based on 55% of past salary income (usually not more than CAD 501 per week), etc.

Overall, the value of Maple Leaf Card is far beyond the scope of money, and it also covers many aspects of quality of life and family happiness. Looking forward to this article helping you to gain a deeper understanding of the true value of Maple Leaf Card.