How life insurance brokers get paid Mar 25th

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A life insurance broker gets paid to provide you with the best life insurance coverage for your needs. But how does the process work? To answer that, we’ve outlined what insurance brokers do, how insurance brokers get paid (by you and/or the provider?), and how to spot a great broker, so you can end up with a policy tailored to your needs (instead of your broker’s commission).
What life insurance brokers do
Insurance brokers sell and package life insurance, living benefits and wealth-related products. These can include life insurance policies (like term and whole life insurance) and living benefit riders (like disability, critical illness, long-term care, individual, health and dental insurance). Life insurance brokers can also sell wealth products, like segregated funds and annuities.
In addition to selling these products, brokers are required to follow industry guidelines set by provincial insurance counsels and other regulators like the Canadian Life and Health Insurance Association (CLHIA)…

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