- How are you remunerated?
- How do I know that you are recommending the best product for my needs and not the one that offers the higher compensation for the advisor?
- Why not choose the least expensive insurance solution?
- My doctor says I’m perfectly healthy, why is the insurance company charging me more or declining me?
- Why do I have an exclusion for travel to my home country?
- There are only a couple of years left to my term renewal date, why don’t I just wait until then?
The company with which we place the business will pay us a compensation once the contract is approved and in effect. For some services, such as Insurance Audit, we will charge an hourly fee.
It is not in anyone’s best interest to recommend a product that does not fit the client’s need. We are heavily penalized financially if a client decides to cancel their insurance contract. Our goal is to build a long-term relationship with our clients.
Each insurance solution serves a specific need. The least expensive solution may not always be the right solution for your specific needs. It may be less costly in the short term but then for the long term it may prove to be extremely cost prohibitive.
This may be true, but the doctor looks at your health as it stands today. Insurance company underwriters analyse your health history, statistics related to your age & health conditions and how those may affect your longevity. Some medical conditions and lifestyle factors are deemed riskier than others. This risk is accounted for in the premium you pay. If the risk is too great, the insurance underwriter may decline to offer you coverage. It is your health that purchases the insurance contract, and your bank account pays for it.
Unfortunately, as long as the Canada Travel Advisory indicates"AVOID ALL TRAVEL" or "AVOID ALL NON-ESSENTIAL TRAVEL" to a country, insurance companies will exclude that country if they suspect any intention/desire/possibility/contemplation of travel to it.
It's your health that purchases an insurance contract. The healthier you are, the more likely you are to be approved and the reverse is true. As such, what your health condition will be in the future is unknown. You should always take advantage of your current good health to purchase your insurance. The longer you wait, the higher the risk of experiencing a health changing event that may prevent you from being insurable.
Your age: as you get older, the premiums associated with the insurance you contemplate will increase. The older you are at time of purchase, the higher the premium.
The rates for insurance offered by insurance companies. Insurance companies revise and change their rates for insurance continually to keep up with the changing economic situation, statistics, profitability and so on. Therefore, what a contract may cost today for a certain age may not at all be the same in the future.