Insurance Brokers in Toronto
Getting life insurance is an important decision and one of the best things that you can do to protect your family. But sorting through all the information and knowing the best policy for you can be complicated. That’s why it’s important to work with an insurance broker in Toronto – so you can be confident that you are getting the right product to suit the needs of your and your family.
Why Should You Choose an Insurance Broker in Toronto?
When you are reviewing various types of insurance, an insurance broker in Toronto can prove to be an invaluable resource. They will be able to explain the various types and options to you and help you find a plan that suits your needs and budget.
Your insurance broker in Toronto can also help you calculate how much coverage you’ll need so you won’t have to worry about whether or not your family is fully protected. Additionally, your insurance broker can help you in the event there is ever a dispute between you/your family and the insurance company.
Finally, because insurance brokers can sell products from a number of different companies, they can compare rates from various insurance companies to help make sure you are getting a good price on your policy.
Your insurance broker is there to make the process easy for you. They will answer your questions, and you can always reach out to them in the future should you have any additional questions about your policy.
How to Get the Best Coverage for the Lowest Premium
Work with an Insurance Broker:
Your insurance broker will shop around for the best rate. They will take some basic information from you (such as age and smoking status) and then get quotes from a number of different companies to ensure you are getting the best price.
Be truthful when applying:
It may be tempting to overstate how good your health is or understate activities like drinking and smoking, but lying on an insurance application is fraud. And if you are caught, lying, it could result in your insurance being revoked. Instead, tell the truth and trust your insurance broker in Toronto to find you the best possible rate.
Understand the difference between permanent and term insurance:
Term insurance is the most budget friendly insurance in the short term, but if you know you are going to need that insurance past the 10 or 20 year term, understand that the renewal rate will be considerably higher. You may be better off getting less coverage but getting permanent insurance or getting a combination of permanent and term insurance that works with your budget. Discuss your needs and your budget with your broker so they can help you find the best solution.
Know how much coverage you need:
It is possible to be over-insured, and if you get more coverage than you really need, it is going to cost you more.
Know your budget:
Unfortunately, it is possible that your insurance needs may be greater than you can actually afford. But if you extend yourself too far, the premiums may be unmanageable and you may end up having to cancel your insurance. It is better to get a lesser amount of coverage but at a rate that you can afford.
Advantages of Working with an Insurance Broker in Toronto
There are many advantages to working with an insurance broker in Toronto including:
Insurance brokers will shop around on your behalf to help ensure you are not paying more on premiums than is necessary.
Insurance brokers have a deep understanding of various insurance products and will find the right policy to suit your situation.
Insurance brokers must follow a strict code of ethics and conduct as they are governed by The Financial Services Regulatory Authority of Ontario.
When you have an insurance claim, your broker will help ensure that it is handled fairly.
Your insurance broker is a trusted advisor who can help you on any insurance decision.
Insurance brokers are professionals who are committed to giving your excellent service and ensuring your interests are protected.
Contact us today to speak with one of our insurance brokers in Toronto.
Comprehensive range of insurance and investment opportunities that we offer:
With InsLyf Brokerage, what you get is the option to choose from a large portfolio of insurance products and investment opportunities. We work with numerous reputable insurance companies, which give us access to their entire range of financial products, and in turn, give you more options in the plans and policies you are interested in. Have a look at what we can offer:
When you think of life insurance policies, you may think of either a long-term solution or a short-term investment. Well, we have both options available:
Term life insurance:
As a popular choice for Canadians in life insurance policies, it's known for its affordability as well as its flexibility. You can choose a term of up to 50 years, and we can help in customizing the contract as per your insurance needs.
Permanent life insurance:
There are two types of permanent life insurance policies that we offer at InsLyf Brokerage- whole life insurance, which comes with an investment component and grows tax-free over time, and universal life insurance, where you can choose your coverage amount and time. Our team can help you select the ideal one based on your requirements.
Critical illness insurance:
Major heart surgeries, cardiac arrest, cancer- the treatment for all of these life-threatening conditions is covered by critical illness insurance policies. Post-surgery care, such as nursing services, also comes under coverage; please contact our insurance brokers for more details.
Disability insurance:
If you are not able to work due to any physical disability, then this policy offers the perfect solution. Not only does it cover most of your annual income that covers your finances, but if you are eligible, you can also get medical benefits.
Heath and dental:
From prescription medication and medical equipment to emergency medical services and customized health care products, everything is covered under a health and dental insurance policy. If you have any queries, feel free to contact us and get them resolved.
In the present day and age, making a saving is not enough to grow your fortune. You will need to invest if you want to truly be financially independent. If you are looking for investments options in the market, here's what we have to offer:
TFSA:
Tax-Free Savings Accounts are one of the best options available in the market if you are planning to secure your financial future. This type of account can help you save enough funds for your child's education, to buy a house or if you wish to secure your retirement.
Segregated funds:
If you choose to invest in segregated funds, then you get the guarantee of maturity and death benefits. You will also have the option to lock in your gains as a part of the principal when you reach a maturity or death guarantee for an additional fee. The funds in the policy will also not be reduced because of taxes and the associated fees that come with settling an estate.
If you are a family man, we understand that you would want the best for your children, whether it comes to securing their financial future or helping them with their higher education.
RESP:
Our team can help you with opening a Registered Education Savings Plan that you can use to save funds for your child's future. Even the Federal government will match 20% of your contributions, and you can save up to $50,000.
Whole life and universal life insurance:
here are children's plans for these policies as well, and you can help your child avoid financial crises by gifting these policies to them.
Once you retire, you will want to be completely financially independent; well, here are some policies that can help you achieve that:
RRSP:
A Registered Retirement Savings Plan (RRSP) can help you start saving for your golden years when you are working. You can invest in a wide variety of investments, such as GICS, Mutual Stocks, bonds and ETFs, and you won't need to disclose the amount you contribute to the plan in your annual income tax filing. Also, your investments grow tax-free.
RRIF:
Registered Retirement Income Fund is one of the best options available in the market if you want a steady stream of income after your retirement. Your assets grow tax-free within the plan as well. Also, you should know that you can convert your RRSP to an RRIF once you turn sixty-nine. Contact us for further details. We serve across Toronto.
Annuities:
There are four types of annuity plans that we offer at InsLyf Brokerage, these are: single-life, joint-life, term-life and variable annuity. The guaranteed income that you get will depend on the type of annuity plan you choose.
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LIF:
A Life Income Fund (LIF) is a form of registered retirement income fund that can be used to lock in pension funds, including other assets, for a payout as retirement income. However, it cannot be withdrawn as a lump-sum amount. The owners of the fund must utilize the plan in such a manner that supports their retirement income throughout their life.
Estate planning:
Our estate planning services are an excellent choice who wants to create a legal agreement to ensure that all of their financial assets are passed on to all respective beneficiaries. We can create a tailored will that fulfils all your requests without issues.
InsLyf Brokerage also works with business clients across Canada. Here's what we have to offer:
Group insurance:
A group insurance plan for your company employees can effectively boost productivity and reduce turnover. Prescription drugs, paramedical, hospitalization and ambulance services everything comes under coverage in this policy.
Group retirement:
Group retirement plans combine RRSPs as well as dental coverages, life insurance solutions for spouses and dependants and much more. Even coverage for accidental deaths and dismemberment benefits are included.
If you are looking for travel insurance, we have three curated options that can complete your requirements.
Visitors' visa insurance:
A visitor's visa insurance can help you avoid financial stress during your travel within or outside Canada. Starting from trip cancellation and emergency evacuation to lost luggage and emergency medical expenses, everything is covered.
Super Visa Insurance:
Our team can help you secure super visa insurance at an affordable premium for your parent or grandparent. It is a mandatory policy for any super visa holder, and we can help you secure it as quickly as possible.
International student insurance:
We offer medical insurance for international students pursuing higher studies in Canada as well.
Insurance broker Toronto
Insurance is one of the most important things you can purchase for yourself and your family. It protects you financially in the event of an accident, illness, or death. An insurance broker is a professional who specialises in helping people find the right insurance coverage for their needs. Inslyf Brokerage is an expert in the field of insurance and can help you choose the right policy for your individual situation. Insurance brokers are required to have a license in order to practice, and they must adhere to strict ethical standards. If you are considering purchasing insurance, it is essential to consult with an insurance broker to get the best coverage for your needs.