Independent life insurance brokers provide an extremely valuable service to both families and business owners across this province. When it comes to purchasing life and health insurance, consumers have many options.
If you are like most people, price is the single determining factor when purchasing your life insurance program. But should that really be the sole determining factor to protect your income and your family's welfare? Being aware of the different rates offered in the market is important yes. Also having a clear understanding of the underwriting requirements, future options, claim history and credibility of the insurance company you select are important considerations when purchasing your life insurance program. An independent life insurance broker that you trust can be very helpful in this process.
The main difference between an independent broker and a captive representative is the independent works for the client and not the carrier. Independent brokers sole purpose is to find the best insurance for you, where as many other agents have to sell insurance products mandated from their head office.
Although a captive representative and an independent broker share the common goal of providing you with income protection in the form of life insurance, only a licensed independent life insurance broker can provide you with a variety of choices from many different providers. Because independent brokers do not have an exclusive relationship with any one insurance company, they are able to offer you a wide range of products from multiple sources.
At the end of the day independent brokers work for you, the client, instead of a company representative that will provide you with limited options and a biased opinion. Knowing the different options, prices and insurers in the market place will help you make the informed decision for the coverage that works best for your situation. An independent broker can provide you with a survey of the entire Canadian life insurance market. The survey will provide you with the rate each company offers for the amount of coverage and plan design that works best for you. Different insurance companies have different options and underwriting requirements, so it is essential you are aware of the details behind the scene.
Independent life insurance brokers are able to guide you through the complicated task with acquiring the proper amount of insurance. with many options available to us, we are able to take on even the most challenging accounts that the direct writers would not even look at.