Insurance is an extremely useful tool for risk minimization, spousal income replacement, business tax planning, estate tax planning, etc. However, like any tool, it needs to be used in the appropriate situation.
In Canada, all insurance advisors are paid commissions by the insurance companies for their insurance advice. A flat fee option does not yet exist. However, being fiduciary financial planners, we only recommend insurance policies after careful need analysis.
BrokerUnion was formed to offer the best insurance policies to its clients at a competitive rate. Since its inception, it aims to offer professional, personalized, and transparent advice. Because of its eagerness to serve their customer better, we believe that it would be a perfect match with FIRE Financial.
BrokerUnion Insurance offers life, critical illness & disability, home & auto, commercial insurance, travel, liability insurance, so and so forth. BrokerUnion has access to all major careers such as Manulife, Sunlife, BMO Insurance, Canada Life, RBC Insurance, Intact, etc.
To learn more about BrokerUnion, please visit their website.
No, while we highly recommend having a financial plan before buying any product, you do not need to be an ongoing financial planning client to buy insurance products. However, we will ask many questions to determine your insurance coverage need.
No, insurance advisors get paid by the insurance company for their advice. So, you do not have to pay FIRE Financial any separate fee for the insurance product.
We do an annual review close to your anniversary date of the insurance policy to make sure the coverage is still right for your specific situation. However, you can also book a follow-up meeting if there is any life event that needs urgent attention.