Ontario Insurance Blog

Used Car Dealership Insurance: Are You Covered?

2011-10-04T11:53:00.000-07:00

If you are the owner or operator of a used car dealership in Canada, you need flexibility and other coverages which are typically not available through generic insurance policies. Luckily, there is a company which offers a customized policy specifically for pre-owned auto dealers!

Custom Used Car Dealership Policies

TEN STAR is a Canadian insurance company which introduced a new approach to used car dealership insurance. The custom dealer’s insurance program includes comprehensive key coverages which other companies are typically unable to provide.

Key Pre-Owned Car Dealership Coverages include:

· Garage Automobile Dealer Plate & Inventory

· Open Lot Theft

· False Pretense

· Conversion Coverage

· Auto Dealers Errors & Omissions Liability

· Odometer & Prior Damage Liability

· Business Interruption

· Umbrella Liability

· Pollution Clean Up

· Commercial Property

· Commercial General Liability

· Installment Payment Plan

· Legal Assist Service

Finding Used Car Dealership Insurance

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. It is very important that your insurer completely understands your operations so they can stand behind you at the time of a claim. Be sure to thoroughly review your operations with your broker when requesting a quote to insure you receive adequate coverage. Remember, insurance brokers are there to answer your questions. So be prepared to ask questions, and be prepared to receive answers.

Travel Insurance Canada: Only Get the Policy You Need

2011-10-02T11:51:00.000-07:00

When you leave home, you shouldn’t have to worry about anything. If you are planning a trip this year, you need to protect yourself and your loved ones with a travel insurance policy. What do you need to know when finding a policy?

What Do Travel Insurance Policies Cover?

Travel insurance policies in Canada often cover the ticket amount for your journey, lost luggage should you happen to lose anything during your trip, and cancellation of your ticket. The cost of travel insurance in Canada often varies according to the travel distance, risks associated with traveling to the destination, and the items you bring with you. Some travel agencies may offer travel insurance as an additional fee when booking the trip, however many travelers prefer getting their travel insurance policy directly from a brokerage.

Types of Travel Insurance Policies

There are two main types of travel insurance policies in Canada: single trip policies, and annual or multi-trip insurance policies. If you are a frequent or avid traveler, obtaining a multi-trip travel insurance policy is likely the most cost effective solution. This is especially helpful for those who travel a few times a year for business. If you are a recreational traveler, who is only planning to travel once in the year, your most cost effective solution is likely to find a travel insurance policy for the single trip.

Finding Travel Insurance in Canada

When discussing travel insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. Remember, insurance brokers are there to answer your questions. So be prepared to ask questions, and be prepared to receive answers.

Segregated Funds: Canada’s Unique Insurance Option

2011-09-28T11:42:00.000-07:00

Canadians across the country are inquiring more and more about savings plans and mutual fund alternatives. Many look to RRSPs and TFSAs, but have you considered the unique option of a segregated fund? Take advantage of this insurance product for Canadians, and see its big advantage over mutual funds and how it is protected from potential creditors.

What is a Segregated Fund?

Segregated funds are an insurance product, only offered to Canadians. Very similar to mutual funds, segregated funds are when a large pool of money is invest in stocks, bonds, and other securities with the goal of growing the entire value of the pool. Segregated funds are structured more like insurance contracts, in that they have the same benefits as a mutual fund (excluding maturity and death benefits), but also offer creditor protection.

Segregated Funds and Creditor Protection

If you are concerned with protecting your money against a possible case of bankruptcy, despite how unlikely this may be, you should consider the protection a segregated fund may be able to offer. Under provincial laws, the interests of insurance beneficiaries may override the claims of creditors.

If the beneficiary you have named on your policy qualifies, your segregated funds are generally protected against seizures by your creditors. If you are a business owner or a professional wanting protection against an unexpected lawsuit or bankruptcy, a segregated fund can be a big advantage.

What Is the Main Advantage of a Segregated Fund?

The main advantages of a segregated fund are the guarantees! Segregated funds guarantee 75% to 100% of your contributes (less your withdrawals) when the contract matures or on your death.

Mutual Funds: Canadians Can Make More Annually!

2011-09-22T11:38:00.000-07:00

You can make more money this year, than you did last year! Consider investing with mutual funds and begin to see the dollars in your accounts grow. Investing can be easier than you think, and to get started, all you need to know are a few basics.

What are Mutual Funds?

Mutual funds are professional managed investment strategies which pool money together from a number of investors, often whom do not know of each other. Pooled money is then invested into stocks, bonds, and other investment securities, building a diversified investment portfolio. Mutual funds are purchased by a professional investment company on the behalf of the investor with the goal of obtaining a return on investment.

Why Choose A Mutual Fund?

Mutual funds are generally considered lowered risk and more stable than traditional stock investments. As mutual funds are solely handled by professional investment companies, there is also less decision-making required by the investor. Mutual funds typically offer a greater return than interested generated from bank accounts, and this is a common advantage discovered by investors new to mutual funds and financial planning.

Where Can I Find A Mutual Fund Advisor?

When you need to find a mutual fund broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

· Recommendations: Ask around and see if your friends or family members have spoken with a mutual fund broker recently

· Proximity: If you pass by a brokerage near your home, or workplace, they may offer the type of services you are looking for. Walking in and asking questions are great first steps with deciding.

· Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a mutual fund broker nearest you

Insuring Your New Hairdresser Business

2011-09-20T11:35:00.000-07:00

Your red, white, and blue striped is still shiny and placed out front where you can see it; your barber shop or hair salon is brand new and open for business! Insurance coverage for any business is important, but did you know that many standard policies do not include appropriate coverage for your unique business?

Items like professional liability or situations where your stylists rent your chairs may not be included. You should also consider your inventory and equipment when arranging for your hair salon insurance policy. After building up your business to where it is today, you could end up back at square one if your inventory or equipment was damaged or destroyed in Canada. Having the appropriate hair salon insurance coverage for your Canadian business would allow you to make a claim on your insurance policy should anything get lost, destroyed, or damaged, even when it is transit to you from a wholesaler or supplier.

If you own a hair salon business then you need to make sure all your angles are covered by getting the appropriate coverage. Finding a specialist insurance company is the best first step. Insurance brokers who offer specialized rates for your type of business will have the required experience to get you tailored coverage for your situation and at the best rates.

Executive Pension Plans: Tax Free?

2011-09-16T11:32:00.000-07:00

Why bother risking the wealth you have worked for all your life? Plan wisely, and consider an executive pension plan! There are much better ways for you to save than through a Registered Retirement Savings Plan (RRSP). Save thousands of your corporate taxes this year!

What Can You Do with an Executive Pension Plan?

While there are numerous benefits to having executive pension plans (EPPs), but the most obvious benefit is executive pension plans can dramatically increase your retirement savings, even when compared to an RRSP. Unlike an RRSP where the maximum allowable contribution is limited to the earnings of the individual, an EPP does not have the same limitations. This is especially beneficial to higher income earners where investments will determine how much will be tax-deferred. Contributions made to the pension plan are tax-deductible in Canada, by not only the employee, but deductable by the employer as well!

Are Executive Pension Plans Difficult to Setup?

Before setting up executive pensions, it is commonly recommended that you first consult a certified financial planner, at a brokerage like Ten Star. Consulting with a professional with years experience is advice you can appreciate. Your Ten Star Financial adviser knows that contributions made to the fund allow the participants to make additional contributions as well.

Finding a Financial Planner for Business

When discussing financial options with your adviser, prepare a short list of questions before the meeting. Finding a knowledgeable adviser with experience dealing with the type of financial planning you need, can help you in the long run, so remember to take your time when finding the most appropriate adviser for your needs.

Disability Health Insurance: Coverage for Your Financial Future

2011-09-10T11:23:00.000-07:00

Why risk losing your home, cottage, automobile, and retirement savings? Protect yourself and your loved ones with disability health insurance and secure your future financial stability. Getting the right coverage doesn’t have to break the bank!

What is Disability Health Insurance?

If you lose your income as the result of a disability, accident, or sickness, disability health insurance can cover you. Your future income is your greatest asset, and protecting your financial stability with disability health insurance coverage is a step towards freedom.

Choosing a Disability Health Insurance Broker

When you need to choose disability health insurance broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

· Recommendations: Ask around and see if your friends or family members have spoken with a disability health insurance broker recently

· Proximity: If you pass by a brokerage near your home, or workplace, they may offer disability health insurance policies. Walking in and asking questions are great first steps with deciding.

· Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Making Sure You Get the Best Disability Health Insurance Rates

When talking about policies with your disability health insurance broker, it is in best practice to prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Commercial Auto Fleet Insurance: Should you be saving money?

2011-09-08T13:35:00.000-07:00

If you run a business and are using a vehicle for commercial purposes, like making deliveries or picking up supplies, those vehicles should be rated by your insurance company for commercial use. But how can changing the rating drop your monthly insurance payments?

Commercial Auto Fleet Insurance Ratings

Canadian Insurance companies and brokers like Ten Star Financial Services offer discounts which you may be eligible for, if you have 5 or more commercial rated vehicles. It is very likely that your business already meets the quantity qualification, but are you vehicles known by your insurance company to be commercial? It is important for your vehicles to be rated correctly to ensure that there are no surprises should you have need to file a claim, but also so that you can take advantage of commercial auto fleet insurance and other available discounts.

Finding Commercial Auto Fleet Insurance

Dental Care Benefits: You too can save!

2011-09-06T13:54:00.000-07:00

Citizens across Canada make use of free health care every day in provinces across the country, but this free health care system does not include dental care. Looking for cost cutting measures, many small and medium sized businesses are looking to remove dental care benefits for their employees, but offering this incentive can be more cost effective than before.

What are Dental Care Benefits?

Dental care benefits provide comprehensive dental services and supplies to plan members and their eligible dependants. While policies include coverage for basic services such as dental examinations, x-rays, cleanings, fillings and more – there are alternative policies which also include major dental restoration such as dentures and bridgework, and orthodontic services.

Finding Dental Care Benefits

When you need to find a dental care benefits broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a dental insurance broker recently
Proximity: If you pass by a brokerage near your home, or workplace, they may offer dental care insurance policies. Walking in and asking questions are great first steps with deciding.
Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Making Sure You Get the Best Dental Care Insurance Rates

When talking about policies with your dental care insurance broker, it is in best practice to prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Condo Insurance: Why You Need It

2011-09-04T13:49:00.000-07:00

Congratulations! You’re looking at buying a condominium, but there are a few things you should about getting condo insurance in Canada. Condominiums are different from houses as the condo corporation’s insurance policy will usually cover the external elements of the building, including its property and structure. The majority of buyers then opt to get insurance solely on the contents of their condos.

What if you decided to do renovations within your unit, which are not done by the corporation? It’s spring time and as renovation season begins, you decide to spruce up you bathroom and kitchen. Owners can opt to include Improvements and Betterments Protection which would compensate you for any upgrades you’ve put into your condo, in addition to what the builder placed initially.

Supplemental condo insurance can also be extended to insure the unit itself, in case the condo corporation’s insurance does not fully cover a loss to your unit. If you take the responsibility to insure your condo unit, apart from basic contents insurance, you can better eliminate the potential risk of not being able to regain any loss due to the your condo corporation’s insufficient coverage, when your neighbours may not be as lucky.
When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. Buying a home is a great step in your life, so take comfort in knowing that you will be covered for those rainy days.

Commercial General Liability Insurance Canada: Stay Protected

2011-09-02T13:36:00.000-07:00

Over the course of your day-to-day work, your business operations go full cycle. Unfortunately, your company’s well-being may become at stake in the event of a lawsuit. A lawsuit could devastate a company financially. Even if you win in court and you case is dismissed by the judge, your legal fees could rise to the tens of thousands, or more. Consider how commercial general liability insurance Canada can help cover you!

What does Commercial General Liability Insurance Cover?

If your company becomes involved in a lawsuit by a third-party for bodily injury or property damage which has been caused by your business products or operations, a commercial general liability policy protects your business. By planning ahead and protecting yourself for rainy days while it’s still sunny, you can save your business thousands of dollars and insure the future of your company. Contacting a broker is the first step in determining your liability insurance rates.

Finding Commercial General Liability Insurance Rates

Offering Group Health Benefits for Your Employees

2011-07-28T12:06:00.000-07:00

Offering Group Health Benefits for Your Employees

When you are small or medium sized business owner, and you want to go a little further for your employees, your first look should be towards offering group health benefits for your employees. Traditional health and dental insurance is not actually “insurance” because employers indirectly pay the health and dental claims. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage.

Offering group health insurance is a wonderful incentive for keeping your currently employees happy, as well as attracting potential candidates for future positions. With today’s economy, many small and medium sized businesses do not believe they can afford health benefits for their employees because they are only aware of traditional benefit plans. Offering benefits to employees can often be the defining factor for your company when a job candidate is being offered a position as individual health coverage is significantly more expensive for the consumer. Ask your group health broker about Ten Star’s Group Plus and discover how you can offer more, for less.

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Group Health Benefits: It’s What Your Employees Want

2011-07-26T11:54:00.000-07:00

Group Health Benefits: It’s What Your Employees Want

When you are small or medium sized business owner, and you want to go a little further for your employees, your first look should be towards offering group health benefits for your employees. Traditional health and dental insurance is not actually “insurance” because employers indirectly pay the health and dental claims. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage.

Why Offer Group Health Benefits?

When you offer your employees a plan for group health benefits in Ontario, you are introducing another factor towards employment longevity, and introducing a defining factor for attracting potential candidates for future positions. Many small and medium sized businesses do not believe they can afford health benefits for their employees because of today’s economy and because they are only aware of traditional benefit plans which is often very expensive. But individual health coverage is significantly more expensive for the consumer, and including this as an employee benefit can go a long way to boost employee morale and retention. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage. Ask your group health broker about TEN STAR’s Group Plus and discover how you can offer more, for less.

Choosing a Group Health Benefit Specialist in Ontario

When you need to choose a group health specialist, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a group health broker recently
Proximity: If you pass by a brokerage near your home, or workplace, they may group health insurance policies. Walking in and asking questions are great first steps with deciding.
Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a great broker nearest you

Finding Group Health Benefit Plans

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. As many policies vary, it is important to create a dialog with your broker and openly discuss all variable options. A great broker should be able to clearly explain and review the pros and cons of policy modifications with you, allowing you have an easier understanding of exactly what your employees will be receiving.

Critical Illness Protection: Insurance You Can Rely On

2011-07-24T11:46:00.000-07:00

Critical Illness Protection: Insurance You Can Rely On

Cancer, strokes- a critical illness can happen at any time. Critical illness protection is designed to help financially when you need it the most. Finding the best coverage now can dramatically affect your financial stability later on. What can you do to make sure you get the best and most affordable coverage?

What is Critical Illness Protection?

A critical illness protection policy is an insurance policy to protect yourself and your loved ones should you get a critical illness. Having a stroke or being diagnosed with cancer can happen at any time, but if you are protected, the insurance company will provide you with a lump sum payment if you suffer from a covered illness. The lump sum payment can be used towards private nursing, personal medical equipment, debt re-payment, and also loss of income. If you purchase critical illness insurance, for a specified period of time, your premium remains the same for the extent of your CI insurance.

Critical Illness Protection Policies

Policies with insurance companies regarding critical illness protection do very from provider to provider. However, these insurance policies can often be customized specifically to your needs and concerns. Some illnesses may not be covered out of the box, although typical covered conditions are: cancer, heart attacks, strokes, blindness, Alzheimer’s, multiple sclerosis, organ transplants, kidney failure, and paralysis.

Finding Critical Illness Protection Coverage

Long Term Care Insurance in Ontario: What to Consider

2011-07-22T11:34:00.000-07:00

Long Term Care Insurance in Ontario: What to Consider

You have spent the majority of your life working hard to achieve your personal and financial goals. After many years on the job, you are closer to retiring on a tropical beach. Unfortunately, the reality is that most of us have a very good chance that our or our spouse’s health will change during our retirement years, and will require nursing or long term care. Are you prepared with protection for your retirement stability?

What is Long Term Care Insurance?

Long term care insurance in Ontario is a type of insurance developed specifically to cover the costs of long-term care services. Services may include in-home assistance with daily living activities, as well as care in facilities and retirement homes.

Long Term Care Facility

Provincially subsidized long term care facilities in Ontario cost approximately $2, 800 per month, but often have long waiting lists and are only able to house you when a bed is available. These select facilities may also be a long distance away from your friends and relatives. Privately ran long term care facilities may cost in the range of $5,000 to $10,000 per month! If you are diagnosed with Alzheimer’s disease, your life expectancy is 10 years. Without long term care insurance in Canada, caring for a loved one for this time could be financially devastating.

Start Planning for Long Term Care

Life Insurance: Honest Brokerages in Canada

2011-07-20T10:57:00.000-07:00

Life Insurance: Honest Brokerages in Canada

There are a number of life insurance brokerages in Canada, so how can you choose an honest brokerage to deal with when planning for your future, and the future of your family? There are a few simple steps you can follow to help assure yourself that you are dealing with an experienced and trustworthy brokerage. What can you do to find an honest life insurance brokerage?

Types of Life Insurance Brokerages

Many brokerages specialize in different types of insurance, and even different types of life insurance which is commonly placed under the ‘life insurance’ umbrella. For instance, there are life insurance policies like mortgage life insurance, critical illness protection, and term life insurance, which are different policies but are referred to by the same common term.

How Can I Find An Honest Life Insurance Brokerage?

When you need to find a life insurance brokerage, there are a few ways to find an honest and friendly brokerage which will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a life insurance brokerage recently
Proximity: If you pass by a brokerage near your home, or workplace, they may offer the type of life insurance you are looking for. Walking in and asking questions are great first steps with deciding.
Online reviews and testimonials: Just like restaurants, products, and movies, you will probably be able to find a review of a brokerage nearest you online

Getting the Best Rates from Your Life Insurance Brokerage

When discussing options at your life insurance brokerage, prepare a short list of questions to ask before arriving to your initial appointment. Finding a knowledgeable brokerage with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate brokerage for your needs. Getting life insurance coverage is an important process, so take comfort in knowing that you and your loved ones will be protected.

Group Health Insurance: Finding Cheap Quotes

2011-07-18T10:46:00.000-07:00

Group Health Insurance: Finding Cheap Quotes

When you are in charge of a small or medium-sized business, offering your employees an added incentive for their commitment to your shared business goals can be a fantastic way to improve the longevity and productivity of your staff.

What is Group Health Insurance?

Individual health insurance coverage is significantly more expensive for the consumer than group health insurance policies. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage. Ask your group health insurance broker about Ten Star’s Group Plus and discover how you can offer more, for less.

Finding Cheap Group Health Insurance Quotes

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.
Offering group health insurance is a wonderful incentive for keeping your currently employees happy, as well as attracting potential candidates for future positions. With today’s economy, many small and medium sized businesses do not believe they can afford health benefits for their employees because they are only aware of traditional benefit plans. Contact Ten Star today for a custom quote!

Group Life Insurance: How do you Rate your Coverage?

2011-07-16T10:32:00.000-07:00

Group Life Insurance: How do you Rate your Coverage?

If you have group life insurance in Ontario, how would you rate your coverage with out of 10? What if you do not have it at all? Group life insurance can be a great way to get the coverage you need for yourself and your employees, and save a lot of money along with way by benefiting from group rates.

What is Group Life Insurance?

Obtaining a group life insurance policy is slightly different than getting a policy for an individual. A group policy, usually issued to a group of employees, puts multiple people under a single master policy. This is often used by employers or association members. Offering group life insurance and other group health benefits can an effective perk for attracting and retaining employees.

Finding a Group Life Insurance Broker in Ontario

When you need to find an Ontario broker for group life insurance, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a group life insurance broker recently
Proximity: If you pass by a brokerage near your home, or workplace, they may offer group life insurance policies. Walking in and asking questions are great first steps with deciding.
Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Getting an Inexpensive Group Life Insurance Policy

When discussing policies with your group life insurance broker, it is best to prepare a short list of questions before meeting. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Group Life Insurance: is it worth it?

2011-07-14T09:01:00.000-07:00

A common employee benefit in Canada is group life insurance. The increased savings available at group rates is a good opportunity to offer more for your employees; individual life insurance policies are often much more expensive.

What is Group Life Insurance?

When a company or association insurances a number of related people under a life insurance policy, insurance companies will refer to this as group life insurance. Many policy holders often find one of the main perks of getting group life insurance is medical examinations are usually not required. For more info, see Wikipedia's article on life insurance.

Finding a Group Life Insurance Broker

When you need to find a broker for group life insurance, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a group life insurance broker recently
Proximity: If you pass by a brokerage near your home, or workplace, they may offer group life insurance policies. Walking in and asking questions are great first steps with deciding.
Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Getting the Best Rates for Group Life Insurance

When discussing options with your group life insurance broker, it is best to prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Life Insurance Brokers 101

2011-07-14T08:44:00.000-07:00

Ontario Life Insurance Brokers: What You Need To Know

Purchasing a life insurance policy for yourself or a loved one is an important and serious process. We do not often like to think about worst case scenarios in respect to the health of our friends and family, but proper preparation is important. Speaking to brokers about life insurance policies can be easy if you take a moment to understand the various options available. Finding a great broker with a wealth of knowledge and experience can be easy if you know the best steps to take when searching for your best match.

Types of Life Insurance Policies

There are many types of life insurance policies in Ontario, and types of insurance which are very similar to what is commonly referred to as simply “life insurance”. For instance, there are life insurance policies like mortgage life insurance, and term life insurance, which are different policies but are referred to by the same common term. It is important that you speak with your broker when discovering which policy works best for your needs, so that you know exactly what coverage you are getting. Doing your own research online is always a great start, and is especially helpful to do so, prior to your first discussion with your broker. To make the best out of your initial meeting, having your pending questions immediately answered will make you feel a lot more comfortable and informed during your decision process. With the numerous aspects to a life insurance policy, an educated conversation with your broker can only work to your benefit.

Finding a Life Insurance Broker

When you need to find a life insurance broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

Recommendations: Ask around and see if your friends or family members have spoken with a life insurance broker recently.
Proximity: If you pass by a brokerage near your home, or workplace, they may offer the type of life insurance you are looking for. Walking in and asking questions are great first steps with deciding.
Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you.

Getting the Best Rates from Your Ontario Life Insurance Broker

When discussing options with your life insurance broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. Getting life insurance coverage is an important process, so take comfort in knowing that you and your loved ones will be protected. A great broker should be able to clearly explain and review the pros and cons of policy modifications with you, allowing you have an easier understanding of exactly what you will be covered for.

Ontario Insurance Blog

Used Car Dealership Insurance: Are You Covered?

Travel Insurance Canada: Only Get the Policy You Need

Segregated Funds: Canada’s Unique Insurance Option

Mutual Funds: Canadians Can Make More Annually!

Insuring Your New Hairdresser Business

Executive Pension Plans: Tax Free?

Disability Health Insurance: Coverage for Your Financial Future

Commercial Auto Fleet Insurance: Should you be saving money?

Commercial Auto Fleet Insurance Ratings

Finding Commercial Auto Fleet Insurance

Dental Care Benefits: You too can save!

What are Dental Care Benefits?

Finding Dental Care Benefits

Making Sure You Get the Best Dental Care Insurance Rates

Condo Insurance: Why You Need It

Commercial General Liability Insurance Canada: Stay Protected

What does Commercial General Liability Insurance Cover?

Finding Commercial General Liability Insurance Rates

Offering Group Health Benefits for Your Employees

Offering Group Health Benefits for Your Employees

Group Health Benefits: It’s What Your Employees Want

Group Health Benefits: It’s What Your Employees Want

Why Offer Group Health Benefits?

Choosing a Group Health Benefit Specialist in Ontario

Finding Group Health Benefit Plans

Critical Illness Protection: Insurance You Can Rely On

Critical Illness Protection: Insurance You Can Rely On

What is Critical Illness Protection?

Critical Illness Protection Policies

Finding Critical Illness Protection Coverage

Long Term Care Insurance in Ontario: What to Consider

Long Term Care Insurance in Ontario: What to Consider

What is Long Term Care Insurance?

Long Term Care Facility

Start Planning for Long Term Care

Life Insurance: Honest Brokerages in Canada

Life Insurance: Honest Brokerages in Canada

Types of Life Insurance Brokerages

How Can I Find An Honest Life Insurance Brokerage?

Getting the Best Rates from Your Life Insurance Brokerage

Group Health Insurance: Finding Cheap Quotes

Group Health Insurance: Finding Cheap Quotes

What is Group Health Insurance?

Finding Cheap Group Health Insurance Quotes

Group Life Insurance: How do you Rate your Coverage?

Group Life Insurance: How do you Rate your Coverage?

What is Group Life Insurance?

Finding a Group Life Insurance Broker in Ontario

Getting an Inexpensive Group Life Insurance Policy

Group Life Insurance: is it worth it?

What is Group Life Insurance?

Finding a Group Life Insurance Broker

Getting the Best Rates for Group Life Insurance

Life Insurance Brokers 101

Ontario Life Insurance Brokers: What You Need To Know

Types of Life Insurance Policies

Finding a Life Insurance Broker

Getting the Best Rates from Your Ontario Life Insurance Broker

Free life insurance calculator at www.TenStar.ca