Getting life insurance that you can rely on may seem like an oxymoron to many Canadians. Can you breathe easy knowing that your policy will definitely protect your loved ones? Or will they have to fight tooth and nail to process a claim in their most trying of circumstances?
Firstly, ensure that you have an actual policy with all the contractual obligations of the insurance company. Insurance offered at your bank, and even your group insurance may not offer a policy contract. This can expose your family to “post claim underwriting”…basically when insurance companies try their hardest to get out of paying the claimL.
If you have an actual policy contract, then relax…you’re all good. The life insurance industry in Canada is very well regulated by the government. The regulatory bodies work to ensure that any life insurance product you purchase is fair and reliable.
There are also many independent associations in Canada that regulate brokers and equip them with access to continual professional development.
Dealing With an Independent, Licensed Professional
In order for a life insurance profession to advise in your area, they must be licensed in your province. Licensing requires that they show competence on the Life Licensing Qualification Protocol (LLQP) exam and that they maintain a level of continued education (CE credits) every 2 years.
An Independent advisor is one who is not partial to any one company, but is able to provide quotes and service for many insurance companies…shopping the industry on your behalf to find the most appropriate, least expensive solution for you.
Get some help without the hassle HERE. or call 1-877-755-9293