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Insurance Broker Ontario
WELCOME TO Canadian L.I.C. INC
Discover Exceptional Insurance Solutions with Canadian LIC
At Canadian LIC, your search for experienced and reliable insurance brokers in Ontario comes to a fulfilling end. We pride ourselves on offering a comprehensive spectrum of insurance policies tailored to meet the unique needs of individuals and businesses alike. From critical illness coverage to whole life insurance, our goal is to provide you with the best possible premium rates, ensuring that you receive unparalleled value and benefits.
Why use insurance broker?
Using an insurance broker in Canada offers several significant advantages for both individuals and businesses seeking insurance coverage. Here are some key reasons why people opt for insurance brokers:
Expert Advice and Personalization
- Expert Guidance: Insurance brokers possess extensive knowledge about the insurance market and can offer expert advice tailored to your specific needs. They understand the complexities of various policies and can simplify this information for you.
- Personalized Service: Brokers assess your personal or business risks to recommend the most suitable coverage. They work for you, not the insurance companies, ensuring that your interests are their top priority.
Wide Range of Options
- Access to Multiple Insurers:Brokers have access to a variety of insurance providers and can compare different policies on your behalf. This broad market access helps in finding the best coverage at competitive prices.
- Customized Solutions: Given their access to numerous products, brokers can tailor insurance solutions to perfectly match your individual circumstances, providing a custom-fit policy that direct insurers may not offer.
Cost-Effectiveness
- Competitive Pricing: Insurance brokers often have the leverage to negotiate better rates with insurance companies due to the volume of business they generate. This can result in more cost-effective premiums for you.
- Value for Money: Brokers can identify where you might be over-insured or under-insured, optimizing your coverage to ensure you're getting the best value for your investment.
Support and Advocacy
- Claims Assistance: In the event of a claim, your broker acts as your advocate, guiding you through the claims process and working to ensure a fair and prompt settlement from the insurance company.
- Ongoing Support: Insurance needs can change over time, and brokers provide ongoing support, reviewing your coverage periodically and suggesting adjustments as necessary.
Convenience
- One-Stop Shop: With a broker, you can manage all your insurance needs in one place, whether it's for personal policies like home and auto or specialized business coverage.
- Saves Time: Researching insurance options can be time-consuming. Brokers save you time by doing the legwork, comparing policies, and presenting you with the best options.
Professional Standards
- Regulated Profession: Insurance brokers in Canada are required to maintain professional licenses and adhere to strict regulatory standards, ensuring they act in your best interest.
- Confidentiality and Trust: Brokers are bound by a code of ethics to maintain client confidentiality, build trust, and ensure that your data and privacy are protected.
Are insurance brokers worth it?
In Canada, insurance brokers offer significant value by providing personalized, expert advice that matches policies to your specific needs, potentially saving you money and time. They have a deep understanding of the market, allowing them to negotiate competitive rates and ensure you’re neither under nor overinsured. Brokers act as advocates, especially during claims, making the process smoother and less stressful. Their professional standards and regulatory compliance add an extra layer of trust and security. For many, the convenience, advocacy, and tailored services brokers provide outweigh any perceived costs, making them a worthwhile investment for managing insurance needs efficiently.
What does insurance broker do?
In Canada, an insurance broker acts as an intermediary between consumers and insurance companies. They are licensed professionals who provide several key services:
- Assessment of Needs: Brokers evaluate your personal or business insurance needs to identify the types of coverage that best suit your situation.
- Market Research: They search the market to find the most appropriate insurance policies that meet your requirements, often accessing a wide range of products from various insurance companies.
- Personalized Advice: Brokers offer expert, unbiased advice on choosing the best insurance options based on your specific needs and financial situation.
- Policy Management: They assist in managing your insurance portfolio, ensuring your coverage remains relevant to your circumstances over time.
- Claims Assistance: In the event of a claim, brokers act as your advocate with the insurance company, guiding you through the process and helping to negotiate settlements on your behalf.
- Ongoing Support: Insurance brokers provide continuous support, answering questions, and making policy adjustments as your needs evolve.
Their goal is to ensure you are adequately protected by finding you the best insurance coverage at competitive rates, all while offering a high level of personalized service.
Can insurance brokers get better rates?
Yes, insurance brokers in Canada can often secure better rates for their clients. This is possible due to several reasons:
- Access to Multiple Insurers: Brokers work with a variety of insurance companies and can compare rates across a broad spectrum of policies to find the most competitive premiums.
- Customization: Brokers tailor insurance policies to precisely fit the client's needs, eliminating unnecessary coverage and thereby reducing costs.
- Expertise and Negotiation: With their knowledge of the insurance market and relationships with insurers, brokers are skilled at negotiating rates that might not be directly available to the public.
- Volume Discounts: Insurance brokers often handle a large volume of business, which can enable them to secure discounts from insurers that are passed on to their clients.
By leveraging these advantages, brokers can provide value by finding policies that offer the best balance of coverage and cost, potentially leading to savings for their clients compared to standard rates available directly from insurance companies or through online quotes.
Why Choose Canadian LIC?
Personalized Consultations
Our team of licensed brokers is dedicated to understanding your specific requirements. We believe in a consultative approach, ensuring that you are presented with various plans that align with your needs. Our expertise allows us to recommend the best options, but the final decision always rests with you.
Comprehensive Coverage Options
Canadian LIC stands out in the highly competitive insurance market through our extensive range of policies. Whether you’re looking for protection against critical illnesses, seeking a robust life insurance plan, or aiming to safeguard your mortgage, we have you covered. Our tailored solutions are designed to provide peace of mind and financial security for you and your loved ones.
Financial Safety Net
Life is unpredictable, and having insurance serves as a crucial financial safety net. Whether it’s the loss of income due to unforeseen circumstances or the need for financial support in times of health emergencies, insurance from Canadian LIC ensures that you and your family are protected.
Our Offerings at Canadian LIC Personal Insurance Policies
Every individual or family has its own story and deserves its own personalized insurance policy. As the key decision-maker for your family, you want to know what your options are, and below-mentioned are some personal insurance plans to protect your assets, family and manage your risk.
This insurance provides a lump-sum payment if the insured is diagnosed with one of the specific illnesses covered by the policy. It’s designed to ease financial burdens during such a difficult time, allowing the insured and their family to focus on recovery without worrying about financial pressures. The funds can be used for medical treatments, living expenses, or any other financial needs that arise during illness.
Disability insurance offers income replacement if the insured is unable to work due to a disability. This type of coverage is crucial for individuals who rely on their income to support themselves and their families. It ensures that the insured can continue to cover daily expenses and meet financial obligations without the income from work.
Mortgage insurance is designed to pay off the remaining mortgage on the policyholder’s home in the event of their death or, in some cases, a critical illness or disability. This ensures that the policyholder’s family can remain in their home without the burden of mortgage payments during challenging times.
This insurance covers monthly loan payments under specific circumstances, such as unemployment or illness, protecting the insured’s credit score. It’s an essential safeguard for individuals who have significant loan obligations and want to ensure they don’t default in times of financial hardship.
This insurance is tailored for international students in Canada, covering unexpected medical expenses. It ensures students can access necessary healthcare without the worry of high costs, allowing them to focus on their studies.
Key person insurance is a critical policy for businesses that rely heavily on the contributions of a few individuals. This policy provides financial stability in the event of the death or incapacity of a key employee, compensating the business for the estimated financial loss that the absence of the key person would cause.
Business Insurance Policies
Group insurance benefits employees by covering health, dental, life, and disability insurance under a single policy. It’s an effective tool for businesses to enhance employee welfare, aid in retention, and attract talent by offering a comprehensive benefits package.
Term life insurance provides coverage for a specified period, offering a death benefit to the beneficiaries if the insured dies during the term. It’s an affordable way for individuals to obtain significant life insurance coverage, with the flexibility to adjust as their needs change over time.
These permanent life insurance policies offer coverage for the insured’s entire life, coupled with a savings component that can grow over time. Whole life insurance provides guaranteed cash value growth, while universal life insurance offers more flexibility in premiums and the potential for higher cash value growth, depending on how the policy is managed.
As a holder of a Universal Life Insurance Policy you have options on the terms of the contract you sign. You can select a policy that allows you to take a loan against the cash value the policy has accumulated. You can also, potentially, withdraw some or all of the cash value of the policy.
This policy guarantees a return of the premium paid to policyholders who outlive the term of their life insurance policy. It combines the benefits of life insurance protection with the assurance of getting back the premiums paid, making it an attractive option for those looking for both security and investment returns.
Specifically designed for parents and grandparents of Canadian citizens and permanent residents, this medical insurance meets the requirements for obtaining a Super Visa. It provides coverage for healthcare, hospitalization, and repatriation, ensuring that visitors can enjoy their stay without worrying about potential medical expenses.
This is a legal agreement that outlines what happens to a business partner’s share of the company if they die, become disabled, or leave the company. It ensures business continuity by providing a clear plan for transferring ownership, often funded by a life insurance policy on each partner’s life. This helps prevent disputes and financial strain on the business or the departing partner’s family, ensuring a smooth transition under difficult circumstances.
Each of these services offered by Canadian LIC is designed to provide security, financial stability, and peace of mind to individuals and businesses, addressing the unique challenges and needs they may face.
Beyond Insurance: Planning for Your Future
Canadian LIC is not just about insurance. We also offer investment options like RRSPs for retirement savings, TFSAs for flexible savings, and RESPs for your child’s education. Our advisors are ready to help you plan and secure your financial future.
Let's Connect
If you’re looking for expert advice, customized insurance solutions, or have any queries regarding our services, Canadian LIC is here to assist. Contact our team or schedule an appointment today. Experience the peace of mind that comes with knowing you’re well-protected with Canadian LIC.
Canadian LIC: Your Trusted Insurance Brokerage in Ontario.
Get in touch now: Call 1 844-542-4678 for expert advice and get the best insurance quote today.
Ali Shahzad
Dealt with Akansha, she was professional and quite helpful in answering all questions
Nusrat Ahmed
akanksha....105 great advisor one call solution solved .
Mithun Das
Was really nice dealing with Canadian LIC for setting up supervisa insurance for my mother. Harpreet from the customer support team was very responsive and I was able to get the things sorted out quickly.
Chona Limoico
Excellent service
Wafaa Hammoud
highly recommend Canadian L.I.C. insurance. Very knowledgeable, friendly and helpful. I called and got help right away. The service was quick, clear and easy. Akanksha gave the best price and service by following up.
Keep it up, great job.
FAQs
That’s quite normal, you can discuss your insurance requirements with us and we can advise you on what type of policy would be suitable according to your needs.
The premium amount may change depending on any change according to the insurance contract.
In some cases, you may get a part of the premium that you paid overtime for the insurance policy. Contact our team for further details.