In insurance there are two functions of education in the offer that protection and investment. The function of protection applies when there is something for yourself such as death, then it will be paid a certain amount of money that has been disepakakti in the policy for your child’s education expenses. In its function as a means of investment, insurance duty to manage and invest some of the premiums you paid and the amounts as agreed in the policy.
RESP is a product issued by a bank, where you commit to regularly set aside money to be saved in the account and will not be taken until a specified period, usually of your own that determines how long and how large is your target budget for educational expenses.
Both of these do look the same and has the advantages of each. Which one will you choose you can customize to your needs and your abilities. Choose carefully the best for you.