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Will the Banks Open Today?

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Will the Banks Open Today?

By Canadian LIC, July 21, 202, 4 Minutes

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What if you drive to your bank to find out it is closed? Disappointing right? Of course, you would like to be well aware of your bank’s opening hours and holidays beforehand, especially when you have to do tasks like closing your account or making a wire transfer that requires your presence in the bank. 

Even though online banking has made people’s life way easier, certain banking transactions may still require you to visit a bank branch.

So here you will get all the information on the Canadian banks working hours and which banks are open on which holidays so that you can plan your bank trips with ease.

Canadian Banks Working Hours

Usually, Canadian banks are open all throughout the week, that is, all 6 days from Monday to Saturday. But there are also certain exceptions, like CIBC and TD Bank branches, that remain open on Sundays and offer drive-thrus as well. 

You can have access to all ATM services for the entire 24 hours of the day, the entire 7 days of the week, along with drive-through services of certain sites. If the customers want, they can still make use of tellers; however, any ATM in the country or the banking website can provide access to their funds.

The normal bank working hours in Canada are the same as the standard business hours of a normal working day which is mostly between 9 AM to 4 PM or 10 AM to 5 PM. The exact timings vary from location to location and bank to bank. Nonetheless, most Canadian banks on any business day close between 4:00 PM to 7:00 PM.

S.No Bank Day Working Hours
1.) TD bank Monday-Friday 8:00 AM to 6:30 PM
    Saturday 9:00 AM to 2:00 PM
    Sunday 11:00 AM to 3:00 PM
       
2.) Scotiabank Monday to Thursday 9:30 AM to 4:00 PM
    Friday 9:30 AM to 6:00 PM
    Saturday 10 AM- 2 PM
       
3.) Canadian Imperial Bank of Commerce (CIBC) Monday to Friday 8:30 AM to 7:30 PM
    Saturday 9:00 AM – 5:00PM
    Sunday 9:00 AM – 5:00PM
       
4.) National Bank of Canada Monday to Friday 9:00 AM to 6:00 PM
    Saturday 9 AM – 3 PM
       
5.) Tangerine Bank Monday to Friday 9:00 AM to 6:00 PM
    Saturday 11:00 AM to 6:00 PM
    Sunday(Some Branches Open) 12:00 PM to 5:00 PM
6.) Bank of Montreal Mondays to Saturday 8 AM to $ PM

Bank Holidays in Canada in 2023

There are certain dates on which Canadian banks remain closed. Most of the banks in Canada usually remain closed on all Federal Holidays, and some banks remain closed on provincial holidays as well. If you want clarity to your question of ‘Are banks open today?’ or not once and for all, continue reading further, where you will get a good idea about bank holidays in Canada in 2023 

The list of federal and provincial holidays is mentioned below:

List of Federal Holidays in 2023

January 2 , 2023 New Year’s Day
March 17, 2023 St. Patrick’s Day
April 7, 2023 Good Friday
May 22, 2023  Victoria Day
July 3, 2023 Canada Day
September 4, 2023 Labour Day
October 9, 2023 Thanksgiving Day
November 13, 2023 Remembrance Day
December 25, 2023 Christmas Day
December 26, 2023 Boxing Day 

List of Provincial Holidays in 2023

  • Day after New Year’s (January 3 2023): Maily banks in Quebec are closed on this day.
  • Family Day (February 20 2023): In many provinces, the third day of February is a regional statutory holiday known as Family Day. Different provinces celebrate it for different reasons, so they have different names for this holiday. The banks in the provinces of Ontario, Nova Scotia, Alberta, Saskatchewan, and Prince Edward Island are closed on the third Monday of February as per the holiday schedule in British Columbia (BC).
  • Saint Jean Baptiste Day (June 26 2023): This day is observed as a public holiday in Quebec, so all banks remain closed on this day.
  • June Day (June 26  2023): The banks in the provinces of Newfoundland and Labrador are closed on this day as this day is on their provincial bank holiday schedule.
  • Civic Holiday (August 7  2023): This day is celebrated on the first Monday of August. All British Columbia banks, like Ontario, Manitoba, Nova Scotia, Saskatchewan, New Brunswick, and Alberta, remain closed on this day.
  • Regatta Day (August 2  2023): This holiday is observed on the first Wednesday of August. Most banks in the province of Newfoundland and Labrador are closed on this day as it is on their local holiday schedule. The event is postponed to the next suitable day if the weather conditions don’t allow it.

Can you do banking on the day of a bank holiday?

The answer to this is a big yes; even if it is a federal holiday, then also you can very easily do your banking activities. If you cannot take out time to do your banking during the bank’s opening hours, then you only have to make sure to contact the bank’s phone number and use an automated system whenever you are free at your convenience. You will also easily find an Internet banking platform as well as ATMs everywhere around the country. Tellers are also available for all those customers who find in-person transactions more convenient. Hence, it is very important to ensure that your local bank is open on that day, especially if you plan to withdraw a large amount.

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Online Banking

You only require a good internet connection, a laptop, a desktop, or a mobile device in the case of online banking. Tasks from viewing your bank statements, checking your balance, paying your bills, setting up or canceling deposits, and depositing cheques can be easily done through online banking within minutes from anywhere.

ATM machines

You will get 24*7 access to all ATM machines from almost all Canadian banks. ATM also offers the same services as in the case of online banking, as discussed above, like paying your bills, viewing your bank statements, checking your balances, etc. Easily print bank account statements, keep a check on your account balance, or withdraw or deposit your money whenever needed through your bank’s ATM network.

Wrapping It All Up

So by now, you would have got a completely clear answer to your question, “Are banks open today or not?. Isnt it? The best and easiest way to find out whether your bank is open is to check your bank’s website. Usually, all banks in Canada remain working on weekdays and generally on Saturdays as well, even though it is for a limited number of hours. Banks generally remain closed on Sundays or, in the case of National Holidays and, in certain cases, provincial holidays, depending on your bank’s location. If you have any queries related to your banking needs, you can easily contact us directly at 416 543 9000 or 1 844-542-4678. 

We would love to hear from you and provide you with the best possible solution as per your needs.

If you need insurance-related or any other knowledge, you can visit the blog section of our website right away.

 

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Faq's

The most commonly asked questions related to ‘Are the banks open today” are as follows:

Mostly all banks and credit unions remain open just like the usual days in Canada, but you will find federal entities like Canada Post remain closed on Easter Mondays.

Many banks and financial institutions stay open like the usual working day in Canada, as the day before Christmas is not a public holiday. But certain financial institutions like the TD Canada Trust remain closed both on Christmas Eve and Christmas Day. 

Mostly on Saturdays, the banks remain open for less number of hours as compared to the weekdays, and they remain closed on Sundays. But there are a few banks that work on Sundays as well, but just for a few hours, like the CIBC and the TD Bank. It is best to check if your bank is open or not on the weekdays before you step out of your house to visit it.

On public holidays usually, banks in Canada remain closed. Many banks also remain closed on provincial holidays. 

The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.

Please let us know if there is anything that should be updated, removed, or corrected from this article. Send an email to [email protected] or [email protected]

Everything You Need to Know About the Canadian Super Visa Insurance

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Everything You Need to Know About the Canadian Super Visa Insurance

By Canadian LIC, May 10, 2022, 5 Minutes

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Are your parents or grandparents looking to travel from their home country to visit your family in Canada? Then, they must purchase super visa insurance to ensure their medical needs are looked after during their stay. It is certainly an exciting time when your parents or grandparents come over to visit their children or grandchildren. But without super visa insurance, that joy can turn to despair and financial stress in the event of an unforeseen medical emergency. This insurance policy makes sure that your parents or grandparents enjoy their stay as much as possible without stressing much about any medical bills. The insurance brokers at Canadian LIC have years of experience in finding the best super visa insurance plans to help match the needs and the budget of their clients. Please do not hesitate to reach out to our team for further information.

A straightforward process that can help you stay much longer

The Canadian government introduced super visa insurance in 2011 to minimize the huge backlog of applications for parents and grandparents to visit their loved ones in the country. A standard visit visa allows parents and grandparents to stay in the country for only six months. But, with super visa insurance, parents and grandparents can stay in the country for up to two years at a time, and they have the option to apply for an extension at the end of the two-year term. Our insurance brokers at Canadian LIC have built an outstanding relationship with various super visa insurance providers across Canada, ensuring clients get the right insurance policy that matches their specific requirements.

Necessary documentation required to apply for super visa insurance

The major requirement needed to apply for super visa insurance is that the applicant must have purchased private medical insurance from any Canadian insurance provider. This is because in the event of a medical emergency during their stay in Canada, they can breathe a sigh of relief knowing that their medical needs are well taken care of. Additionally, the coverage of the insurance plan must be a minimum of $100,000, and it should be valid for at least one year from the date of arrival to the country. The applicant must also submit other documentation, such as a letter from the host, that they will be able to look after their parents or grandparents during their stay and take care of them financially. The best part is that super visa insurance plans can be customized to meet the needs of grandparents or parents who are visiting from their home country. Our insurance brokers can help identify the right super visa insurance plans that are guaranteed to meet their insurance needs.

Stress-free travelling with super visa insurance

Everyone wishes to have a stress-free trip, but life is uncertain, and we need to make sure that our medical needs are taken care of in case of an unfortunate event. From hospitalization to healthcare, including repatriation, all these will be taken care of with super visa insurance. You no longer have to worry financially when an unexpected illness occurs, an accident, or any other kind of medical emergency. It is nerve-wracking already having your parents or grandparents around; with a super visa insurance plan, you can rest assured that no more worries come along your way during their stay in the country.

Affordably priced and convenient

For a super visa insurance plan to be valid, it must meet certain criteria during the application process, such as the minimum coverage, as well as cover their healthcare needs during their stay in Canada. They can have the time of their life during their holiday knowing their medical needs are looked after should something unfortunate happens. The insurance brokers at Canadian LIC understand their clients’ super visa insurance needs clearly and identify plans from several providers to help them make a more well-informed purchase. For further information on super visa insurance, our brokers will be more than happy to answer any queries you may have.

Canadian LIC – Taking care of all your super visa insurance needs

Super visa insurance is provided to applicants for super visas who are primarily your parents or grandparents looking to visit Canada and spend quality time with their dear ones. A super visa insurance policy covers the healthcare needs of non-residents of the country. You must be insured to avoid any financial stress, as medical expenses in Canada are considerably higher. The insurance brokers at Canadian LIC, with their expertise and experience in the insurance industry, have built sound relationships with several insurance providers across the country to help their clients in getting the best super insurance plan that matches not only their specific needs but also their budget. Schedule an appointment with the team at Canadian LIC to find out more about super visa insurance.

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The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.

Please let us know if there is anything that should be updated, removed, or corrected from this article. Send an email to [email protected] or [email protected]

Hiring An Insurance Broker In Brampton- A Comprehensive Guide

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Hiring An Insurance Broker In Brampton- A Comprehensive Guide

By Canadian LIC, April 11, 2022, 8 Minutes

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Since 2020, with the start of the Covid-19 pandemic and now with countries at war and the talks of a possible world war, it’s practical to say that we live in financially volatile times. Especially the last couple of years has shown us what an economic crisis looks like. In these challenging times, it’s always a good idea to have a financial safety net around you and your family in-case if you already don’t have one, ideally in the form of an insurance policy. However, when it comes to insurance policies, there are so many products available in the market that it might become very confusing for you. This is where the role of an insurance broker comes into play. Not only can they help you find the right insurance policy that meets your financial needs, but they also take care of all related legwork and paperwork while you can take care of more serious matters. Consider this blog as a guide on how you can find a professional insurance broker in Brampton.

Understanding what an insurance broker does

Before you go looking out for an insurance broker, you should know what an insurance broker does. An insurance broker’s main job is to find the perfect policy for their clients (you) at the best price possible. Once you hire a broker, they will sit with you and take note of your financial needs. This would be a question and answer round that might include some documents that you would need to present, such as property valuation reports and appraisals. With the necessary information in hand, they will comb through several insurance policies from different companies and present you with some options that might be suitable for you.

Brokers can also share information and provide support, even after the insurance purchase is complete. On behalf of their customers, they can help in coordinating premium payments, request policy changes and make recommendations when the renewal time comes. Some brokers also offer assistance with claims submission and reimbursement, though the actual claim still has to be made directly with the insurance provider. They will do all the hard work while you can relax.

Things to consider when looking for an insurance broker in Brampton

When you’re planning to hire an insurance broker, it’s a good idea to do a fair bit of research first. You can explore the market, ask for references and also read the testimonials part to get better insights (get to know what their previous clients think about their service).

Here are some fundamental pointers that you should keep in mind when you’re searching for an insurance broker:

  • Consider choosing a broker from a reputable insurance brokerage firm who has professional qualifications as well as experience in this line of trade.
  • The insurance policies they offer should offer complete coverage in terms of what you’re looking for.
  • The interest rates for the policy should be affordable.
  • They should be able to answer all your queries as well as tailor the contract as per your need.

Insurance brokers can negotiate the premium for you as well.

What you should know is, that the insurance broker that you’re about to hire may have worked with numerous insurance companies for a long time. This means that they would have a friendly rapport with them, giving them the benefits of securing affordable monthly premium rates for your insurance. If you go into the insurance market on your own, you may not secure the premium rate that you are looking for. With a broker, you can have complete peace of mind. They can compare several policies for you, set a reasonable premium rate and also make sure that all your requirements are covered.

Need advice on your finances? Your insurance broker in Brampton can help.

Insurance brokers always remain impartial. They will educate you about the policy that you want to apply for and show the loopholes as well. With them, you will have access to more insurance companies, and they can share all the knowledge that they have for you to make a well-informed decision. They will give you honest advice based on your needs and budget, but at the end of the day, you will have the final decision.

Do I need to pay the broker?

That is a good question, and in most cases, the answer is no. Insurance brokers in Brampton earn a commission on the policies that they sell. Once the policy is purchased, the insurance company that provides it will pay the broker a commission for bringing them business. This commission is based on the premium amount, and it can be as high as 20%, depending on the type of insurance that was purchased.

However, you should know that some brokers do charge a brokerage fee, which will have to be paid by you. It’s not a common practice, and in many jurisdictions, they aren’t even allowed. Insurance brokers are regulated provincially, so consider checking with your province’s regulatory body if you’re curious about the rules where you live.

Additional services

Alongside offering help, several insurance policies such as:

  • Universal life insurance
  • Critical illness insurance
  • Term and whole life insurance
  • Super Visa Insurance
  • Disability insurance

You can hire an Insurance broker in Brampton for drawing out buy-sell agreements, help with estate planning policies and much more. You can contact them and ask for a free quote and if you like it, then schedule an appointment to start initial discussions.

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Conclusion

Know this; your insurance broker will always have your best interests in mind. They will work for you and not the insurance company and can offer a variety of insurance products at a low price. Hire an insurance broker and reap the benefits. We hope you know you have a good idea about how you can hire a professional insurance broker in Brampton. For more exciting reads like this, keep an eye on this space.

The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.

Please let us know if there is anything that should be updated, removed, or corrected from this article. Send an email to [email protected] or [email protected]

Benefits Of Using An Insurance Broker

Posted on by canadianlic

Benefits Of Using An Insurance Broker

By Canadian LIC, March 10, 2022, 8 Minutes

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An insurance broker will solely look after your interests and sell you different types of policies at the best rates that suit your budget and specific needs.

Below-mentioned is some of the benefits of an insurance broker in Cambridge:

  • Protecting you from risk

One of insurance brokers’ primary areas of focus is protecting you from financial risk. Our insurance brokers in Cambridge have years of experience helping you get the best insurance plan that suits your lifestyle.

  • Getting you the best insurance plan at competitive prices

Canadian LIC insurance brokers have built a solid relationship with various Insurance Companies across Cambridge to get you the best rates on insurance policies. While Keeping your budget and requirements in mind, Canadian LIC will offer you a range of policies to choose from and make a well-informed decision. The multiple options give you the freedom to choose the coverage plan and select the protection you want. Unlike an insurance agent who works for one Company, you will not get that from Canadian LIC insurance brokers in Cambridge.

  • Various insurance plans to suit your specific requirements

Suppose you are looking for Travel Insurance, Critical Illness health insurance, business insurance, or any other kind of insurance plan. In that case, you can rely on Canadian LIC insurance brokers in Cambridge to help with any type of insurance requirement you may have. Working with a Canadian LIC insurance broker ensures peace of mind, and you can also end up saving money as they look after your best interests.

  • Saves you a lot of time and money

When it comes to any insurance plan, an insurance broker has expert Knowledge in this domain. Searching for the best and most affordable insurance plan can be time-consuming and expensive. Canadian LIC insurance brokers in Cambridge will help you get the protection you want and need. We will also try to get every discount available to you, ensuring substantial savings. Our goal is to help you save time and money.

  • A quick and straightforward service

When you choose to work with a Canadian LIC insurance broker, you can rest assured; the service will be quick, efficient, and straightforward. Canadian LIC insurance brokers in Cambridge will explain the coverage in detail, making sure you clearly understand all the insurance jargon. Additionally, we also help clients navigate through complicated insurance experiences with ease.

  • A personalized service

Canadian LIC Insurance brokers provide a service the way you want it. Via Zoom, phone, email, or in-person, we understand that our clients lead busy lives, and you may be required to resort to some form of technology to serve their needs.

  • Prompt and personal attention

Most insurance brokers nowadays do not offer a personal service to their clients, and it can be frustrating. We must keep in mind that the client’s needs and time must be valued. At Canadian LIC, our insurance brokers in Cambridge are not only experienced but also professional and friendly and will respect your interests, ensuring you get the best service possible. Each time a client gets in touch with us with a query or a claim, we ensure to resolve their needs in the best possible manner.

  • A trusted confidant Advisor, not a salesperson

Canadian LIC insurance brokers have years of experience in the insurance market and know exactly how to meet your insurance needs. We represent several insurance firms that have a solid reputation and give them a fair opportunity & Knowledge to our clients to purchase their insurance plans. Every Company provides different strategies at different prices. Our job as insurance brokers is to assess the quotes and offer advice if we think this policy meets clients’ budgets and needs. Keep in mind that a low-cost plan can cost you much more than a slightly higher insurance plan. You can have peace of mind knowing that Canadian LIC insurance brokers are advisors and not salespeople. Your  & Your family’s financial protection is our aim. We will not convince or force you to buy an insurance policy that does not meet your budget and needs.

  • Experience and expertise

When it comes to insurance, you require the help of an insurance broker. Canadian LIC insurance brokers in Cambridge are licensed and experienced professionals who have taken all the required professional courses to grow and develop their skills. At Canadian LIC, insurance advisors must attend weekly seminars and meetings to keep them up with the insurance market. Our insurance brokers know a whole deal about insurance and are here to help.

  • Your interest is of utmost importance

Because we represent various insurance companies, we do not have a loyalty to sell insurance products of only One Company. Remember, we do not work for an insurance company; we are independent brokers, and our commitment lies with our customers.

  • Expert help with insurance claims

It can be a hassle when making an insurance claim. As clients, You want to know when the issue will be resolved. Canadian LIC insurance brokers in Cambridge know the claims process all too well and will assist you in navigating through the complicated process of claims resolution. Canadian LIC work on your behalf, including communicating with the insurance company to help get things resolved as quickly as possible. We are always happy to help.

  • Continuous care

In a few instances, when you purchase an insurance plan, you don’t usually hear from the Company again until it’s time to renew the policy. Canadian LIC insurance brokers in Cambridge do not operate like that. Our commitment towards providing our clients with ongoing care is second-to-none. You can rely on us to offer assistance whenever you require it.

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The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.

Please let us know if there is anything that should be updated, removed, or corrected from this article. Send an email to [email protected] or [email protected]

Why You Should Use An Insurance Broker?

Posted on by canadianlic

Why You Should Use An Insurance Broker?

By Canadian LIC, February 14, 2022, 8 Minutes

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Insurance brokers are licensed professionals who help individuals with their insurance needs, including identifying the right policy based on their specific needs and budget.

What is an Insurance Broker, and what do they do?

A professional who is an expert in the field of insurance and provides professional advice and continuous service as per the needs of its customers whenever required is an insurance broker. If you are new to the world of insurance and don’t know what to do, then an insurance broker can make everything quite simple and smooth.

They research and provide the best possible insurance solutions as per individual needs. You get access to insurance which offers the best value and peace of mind with the knowledge of an insurance broker. An insurance broker looks after all your insurance needs, thus saving you your time, money and all the worry. They will suggest you a variety of products within your budget after assessing your exposure to risk.

You can gather more information on insurance brokers through the government website as well.

Who should go with an Insurance Broker?

The below-mentioned types of buyers get the most benefits from using an insurance broker to buy insurance:

  • Applicants who are purchasing insurance for the first time in their life.
  • Applicants who are purchasing insurance to review their Insurance policy.
  • Applicants who are purchasing insurance to increase their Insurance coverage.
  • Applicants who have certain special insurance needs.
  • Applicants who are looking for insurance that provides them with the best value for their money
  • Applicants who want to make the insurance buying process simple and time-saving.

Top 11 Benefits of Insurance Brokers in Canada

Below mentioned are the reasons you should use an insurance broker in Brampton:

  • Independent professionals: When you choose to get insurance through an insurance broker, you are dealing with an independent advisor and not the company. You will ultimately make the final decision, and your insurance advisor from Canadian LIC is there to guide you along the process. If you are looking for an affordable insurance plan and need the help of experts to get you the best coverage, look no further than the reliable insurance brokers in Brampton – Canadian LIC, for top-quality service. Additionally, in the event you need to make a claim, you can be rest assured; that our brokers will take your side and help you resolve it effectively.
  • Takes care of all the claims: After purchasing insurance, if something awful happens, or in the event of a terrible loss, you need to ensure that you are covered entirely and your claim is taken care of swiftly and professionally. Insurance brokers offer expert advice during the claims process and also work with your insurance company on behalf of you to assist you. With the help of an insurance advisor, you can rest assured the claim process will be quick, fair, and transparent.
  • Variety of Options: Working with an insurance broker from Canadian LIC gives you access to a wide range of insurance plans to choose from, as they have a large network of insurance companies they consult with. Most insurance advisors will at least provide the client with 3 to 5 plans to ensure they make a well-informed decision. There are several benefits for the client as they can save money and get you the best coverage possible. The experienced insurance advisors in Brampton – Canadian LIC will identify the best deals to ensure you the best quotes and insurance options.
  • Highly professional and certified: Every insurance broker in Brampton from Canadian LIC is required to be licensed and regulated. The licensing process is strict, and a lot of applications don’t make the cut. Additionally, insurance advisors are required to take education courses every year to make sure they are up-to-date with the latest details. Whether you are working with a broker in person, over the phone, via text, or online, you can have peace of mind knowing you are dealing with a highly trained professional who will take accountability for your actions.
  • Human touch vs. digital: If you are a person who likes to handle things for yourself, there are a plethora of insurance advisors that provide this kind of service. But if you choose to have a hands-on service, you are more than welcome to get in touch with our insurance advisors in Brampton today. Whatever your specific requirements, our brokers are up-to-date with all the latest information offering the best service that is guaranteed to meet the needs of our clients.
  • Free and reliable advice: An insurance broker earns from the service that is built into the cost of the insurance policy. There is no additional fee asked or taken to your insurance premium. For many, an insurance plan is a major expense. Having an insurance broker in Brampton. Canadian LIC, which provides a personal service and guides you to make a well-informed decision is worth taking advantage of.
  • Specialized service: Most insurance brokers help with a range of insurance plans like Life Insurance, Critical Illness Insurance, and investment plans to name a few. There are a few insurance advisors in Brampton that specialize in one insurance category. When it comes to understanding the nuances of the various coverage options, Licensed insurance advisors are experts. They also have a wealth of experience in identifying the best policy that provides stable rates.
  • Saving you a lot of time and hassle: If you do not wish to work with an insurance broker, the other alternative is to do it yourself, which can be time-consuming and stressful. The significant advantage of working with an insurance broker is that you will be dealing with an individual who has expert knowledge and can help solve any queries that you may have.
  • Free and reliable advice: An insurance broker earns from the service that is built into the cost of the insurance policy. There is no additional fee asked or taken to your insurance premium. For many, an insurance plan is a major expense. Having an insurance broker in Brampton. Canadian LIC, which provides a personal service and guides you to make a well-informed decision is worth taking advantage of.
  • Free and reliable advice: An insurance broker earns from the service that is built into the cost of the insurance policy. There is no additional fee asked or taken to your insurance premium. For many, an insurance plan is a major expense. Having an insurance broker in Brampton. Canadian LIC, which provides a personal service and guides you to make a well-informed decision is worth taking advantage of.
  • Free and reliable advice: An insurance broker earns from the service that is built into the cost of the insurance policy. There is no additional fee asked or taken to your insurance premium. For many, an insurance plan is a major expense. Having an insurance broker in Brampton. Canadian LIC, which provides a personal service and guides you to make a well-informed decision is worth taking advantage of.
  • Free and reliable advice: An insurance broker earns from the service that is built into the cost of the insurance policy. There is no additional fee asked or taken to your insurance premium. For many, an insurance plan is a major expense. Having an insurance broker in Brampton. Canadian LIC, which provides a personal service and guides you to make a well-informed decision is worth taking advantage of.

Can we trust an Insurance Broker?

Insurance brokers usually get commissions from the insurance companies for the many types of insurance they sell if they are able to sell it successfully. These insurance agents work with a number of insurance providers, so there are very few chances of them having a monetary bias for any one particular product. Hence they are unbiased and impartial parties and provide you with a policy that would be in your budget as per your requirements from so many different insurance companies in their knowledge.

Do Insurance Brokers Understand the Products They Sell?

You will definitely be able to make a much better decision if you buy insurance through an insurance broker rather than directly from any insurance company. An insurance broker’s job is to have all the best knowledge about the best insurances available in the market from the best insurance companies and hence will advise you for one which is perfect for your budget. These insurance brokers in Canada are very well aware of the application requirements, coverage terms, and pricing.

Whatever insurance you are looking for, be it critical illness insurance, disability insurance, life insurance, etc., you can easily buy through an insurance broker in Ontario after comparing them with each other. Mostly all the insurance brokers cover all types of insurance, but you might find a few who specialize in specific ones. So if you want an expert opinion on a particular insurance, you can go to these types of insurance brokers in Canada.

The Benefits of Working with an Insurance Broker in Toronto

Alongside helping you choose the ideal insurance policy for you and your family, working with expert insurance brokers has its advantages. Here’s how you will benefit from hiring an insurance broker in Toronto before choosing a policy:

  • Experienced and best insurance brokers in Canada always keep themselves up to date with the latest trends in the insurance market; they can help you choose the ideal insurance plan based on your needs and industry standards.
  • Your insurance broker in Toronto will be connected with many companies, and that gives them access to several insurance products. Once they know all your needs, they can compare multiple plans and policies and present the ones suited to your requirements and within your budget.
  • Once you have selected a policy, they can help negotiate premiums and see that you get an affordable monthly rate for the plan you choose.
  • If you are not sure which insurance policy is ideal for you, an insurance broker can share their unbiased advice so you can make an informed decision.
  • They can also help in settling claims. Once you have submitted your claim, your insurance broker will follow up to ensure the claim is processed correctly.
  • An insurance broker can help you settle legal disputes with the insurance company as well.

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Some Tips On Choosing The Right Insurance Broker​

Although there is no established formula for finding the right broker for your insurance needs, what you should look for is someone who has a minimum set of attributes to shift through several policies and identify the right option for you. Here are some tips that can help you hire an insurance broker:

  • Visit their website and have a look at their customer reviews. This will give you a better insight into how they have worked with their previous customers.
  • Check if the insurance broker works with several companies; if they do, that would mean that they are well-established in the industry.
  • You can ask them for proof of their experience, as all registered insurance brokers must possess a minimum set of qualifications.
  • Ask for a consultation, and during the first meeting, you can resolve all the queries you may have.
  • Also, when you are searching for an insurance broker, you should pay close attention to their availability, as well as how long they take to return phone calls or respond to emails. Choose an insurance broker who is always prompt with their replies.

Process of Application

During the Application process, certain documents will be needed from you, such as:

  • Personal health records
  • Lifestyle habits
  • Income
  • Assets and Liabilities list

There are certain insurance policies that might even require you to go for a Health Exam before the issue of the policy, but it has become really rare now. 

Whatever situations you might be facing for the type of insurance you are dealing with, you will have complete guidance and support from the insurance broker in Toronto you are working with. A few things to consider before making your decision to buy your policy are as follows:

  • Is the policy fulfilling your needs?
  • Clarity of the coverage terms and the fine print
  • Are you getting the best value for the plan you are going for?

If in case you have missed anything or want to add to your plan, your broker should be able to do that for you effortlessly. Once you have made up your mind, the insurance broker will complete the application process and will proceed with the payment process for you. If you are required to make a claim, the broker might also support you after the coverage gets life.

To learn more about the application process, you can read – Getting an Insurance Policy.

What is the cost of buying Insurance from the Best Insurance Broker in Canada?

An insurance broker is paid by insurance companies and not by clients. They cannot charge a fee; if they do, then it might be a scam. 

You only have to pay the fee for the insurance policy you buy but not any fee to the broker. The prices of different insurance policies vary to a great extent as per their type and coverage.

In fact, if you buy insurance from an insurance broker in Canada, it might be cheaper than buying directly from the insurance company. This happens because the insurance broker provides you with various discounts and also negotiates the price of the plan. You can even take the benefits of rebates by bundling different policies together.

Thus to put it in simple terms, you might experience a vast difference in the cost of insurance when you buy it through a broker but not in any case, you will have to pay fees to the broker. You will only have to pay the price of the insurance policy you are buying after you have made the decision to buy it.

Get The Best Insurance Quote From Canadian L.I.C

Call 1 844-542-4678 to speak to our advisors.

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Other Insurance Buying Options​

You can even buy your insurance directly through the insurance company or work with an agent if you are not interested in buying through a broker. But if you do so, then you will lose the biggest benefit of comparing different insurances available in the market. If you decide to work with an agent, it is best advised to do your proper research so that you are able to grab the best deal for your plan. 

Final Thoughts

Hiring an insurance broker can be difficult, but if you choose our team at Canadian LIC in Toronto, you will be hiring a team of professionals who can help you get a tailored insurance policy at affordable premium rates. Please schedule a consultation today; we look forward to meeting you. We are based in Toronto.

The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.

Please let us know if there is anything that should be updated, removed, or corrected from this article. Send an email to [email protected] or [email protected]