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Benefit of working with an insurance broker

 

Access to multiple insurance carriers and a wide variety of products

An insurance agent (or representative, known as a captive agent) works directly for and represents the insurance company.  They are only authorized to sell policies to their clients on behalf of the company  that they work for.  On the other hand, an insurance broker works with multiple carriers to compare and help the client select insurance products based on their specific needs.  The broker tends to have a broader understanding of various companies’ offerings and key benefits, not just one company.

Independent insurance brokers have an extensive knowledge of products from multiple insurers​, therefore familiar with the pros and cons of each product.  By working with different insurance companies, they are able to identify nuances in clauses of insurance contract which are not so obvious to general individuals, and eventually help you avoid pitfalls.

All this allows brokers to craft the most competitive and comprehensive insurance package to suit your needs.

Save you time

Without an insurance broker, you need to make a request to each insurer that you are interested in for a quote and then compare them by yourself.  It may take you days to make the inquiries and weeks to gather all information together.  While comparing on your own, you may overlook certain features built in policies provided by different insurers, therefore missing out what really matters to you.  When you are working with a broker, he/she can efficiently navigate the market, identify policies that align with your specific goals, and make non-biased recommendations by their industrial knowledge and experience.​

With all being said, you get to know the best price over a short phone call.  Register to find out the lowest price today.

Expert advice 

​A licensed life insurance broker is dedicated to helping you make sound decisions and to guiding you through the complexity of life insurance procedure.  Since insurance brokers are not incented to sell product of a specific insurance company, they are able to provide valuable insights, clarify any confusions, and assist you in making well-informed choices that align with your financial objectives.

It's more personal

Most importantly, your broker works for you, not the insurance company.  They provide expert advice, peace of mind, and flexibility when it comes to your insurance.

Don't like talking on the phone?  No problem.  After getting in touch with the broker, you can choose to interact via phone call, text message or email.  All communications aim to understand your situation thoroughly and therefore provide you with the best- informed recommendations.

Types of insurance

Life insurance

The most affordable protection available on the market is through term life insurance (10 years to 40 years term).  Term life insurance is very straightforward and easy to understand once you take the time to learn how it works.  It is a type of life insurance that provides coverage for a specific number of years, known as the term.  Typically, you will try to match the length of the term with how long you require life insurance.

 

However, if you are looking for a coverage that will never expire, and will grow cash value therefore build up your wealth, whole life and universal life insurance may be the right choice for you.  See Frequently asked questions.

Disability insurance

Disability insurance is designed to replace your income if you become disabled and are unable to earn an income.  Disabilities can result from a number of causes, for instance, an injury, a serious illness including mental health issue.

 

You can choose to protect your income from disability caused by injury or illness, or disability caused only by injury for which the premium is more cost effective and you don't need to go through a medical exam during the underwriting process.  Talk to an insurance broker to learn more.

Critical illness insurance

A diagnosis of illness is obviously difficult news to accept.  Fortunately, critical illness insurance will allow you to devote all of your energies to healing.  

 

It does not have to be as difficult to understand as most people make it out to be.  Basically you purchase a policy and if you are diagnosed with one of the covered conditions, the insurance company will send you a cheque tax-free which you can spend whichever way you wish. There are no limitations on the way you spend the money.  It is 100% yours and you can do what you wish with it.

Guaranteed acceptance life insurance

Guaranteed life insurance is a very simple, yet unique type of life insurance available to purchase in Canada.  It is designed to provide a limited amount of insurance coverage for Canadians who cannot get approved for life insurance.  This is usually because of past or current health problems.

 

If you are in a situation where you find it difficult or even impossible to get approved for a traditional life insurance with regular underwriting (e.g. medical exam), guaranteed life insurance offers many benefits which help you get lifelong protection in place.  However, it has a two-year deferment or "waiting period" which means if you pass away due to illnesses within two years after purchasing the policy, the desired death benefit will not be paid; instead, all premiums paid would be refunded.  Register to consult an insurance broker.

 

Our brokers will get in touch with you in order to understand your insurance needs thoroughly, research among all insurance providers to find out the product that best suits your needs within your budget, as well as guide you through the entire underwriting process.  See why brokers.

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