My approach with my clients is simple. I will break down my process below:

I first either meet in person or chat over the phone with my clients about what they know about insurance. This allows me to gauge how well they understand the industry, what insurance is, and how it works.

During my meeting, my first step is to do the needs analysis with the client finding their exact needs for their insurance. Then I learn about what coverage they may feel or know of, that they are interested in. Young couples usually know they need term insurance for their house, while on the other hand, couples with teenage kids explore whole life insurance or universal life as both of those policies come with a death benefit which is accompanied by an investment/return component.

Following that, I understand the financial goals, death benefit concerns, affordability, existing policies, and if applicable, their insurance history.

At this point, I have a good understanding of the client and their needs. It is at this stage, I recommend the client the type of policies that may be a good fit considering all factors discussed.

Questions are asked and I educate the client of each policy I suggest. We also discuss beneficiaries (who get the money if a death occurs), who pays the premium, and other technicalities.

The conversation then steers to medicals. When you purchase life insurance, with the exception of no medical life insurance, you will have to undergo some form of medical examination. Usually blood work but some policies can work with urine and or saliva samples. The reasoning behind the medical is to let the insurance companies know about your health and how to underwrite you. In simpler words, the better your health, the cheaper the rates, the more comparisons you will have.

At this point, I email my clients policy wordings, summary of the conversation, and multiple quotes for each policy discussed. I recommend my clients to sit on our discussions for at least 1 week and during this period I answer questions or concerns.

If the decision is made to proceed with acquiring coverage, I schedule a medical for the customer with a nurse. The nurse comes to your house in most cases. The examination is conducted. There is no cost associated with the medical process.

At the same time your application is submitted to the insurance company decided. Once your medical results arrive, they are sent to the insurance company for underwriting. In normal circumstances, policy gets approved within two to three weeks.

I schedule a meeting with the client to discuss the policy further. At this stage the client has the choice to change the product of their choice and if needed, I request a reissue if the client chooses something different.

If all okay, the client pays the insurance premium.

If no further information is required from the insurance company, the policy is approved and I deliver that policy to the client.

The whole process described above can be much simpler or even more complicated depending on the type of life insurance in discussion.

I am licensed broker which allows me to sell life insurance and investment products across Ontario, Canada. If you are in the Greater Toronto area or surrounding regions, I prefer to meet my clients in person as my office is located in Thornhill, which is not too far . In the event you are further away, we would be conducting this whole process remotely. Either way, the process of insuring or providing life insurance quotes is the same.

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