Frequently asked questions (FAQs) about Protect Your Wealth

How is Protect Your Wealth different from going to an insurance company directly?

Life insurance companies can only offer their own products and solutions. As an award winning life insurance broker, we are able to compare multiple insurance company’s products and solutions to find the right one for you.

Is there any fee or cost to deal with Protect Your Wealth?

Never a cost! There is absolutely no fee or cost to you at any time.

How does Protect Your Wealth make money?

We are compensated directly from insurance when you purchase a policy, with no out of pocket cost to you.

Is it cheaper to buy insurance directly from the insurance company?

Simple answer, no! As a completely independent insurance broker we have the ability to compare multiple companies and can offer the exact same quote as an in-house insurance representative. The difference is we are able to compare multiple companies instantly and provide you the best solution.

Will you outsource my information to other companies?

Never! We offer in-house advice and will never sell or distribute your information.

Will there be any pressure to buy a policy immediately?

We can 100% guarantee you will NEVER be pressured to purchase any policy at any time. We are here to help you make an educated decision when the time is right for you.

Will my policy be with the insurance company or Protect Your Wealth?

Your policy will always remain directly with the insurance company. All premiums and policy information are collected and stored with the insurance company directly.

Is Protect Your Wealth licensed?

Yes, we are licensed to sell insurance anywhere in the province of Ontario, and in B.C. whether in person or remotely via video conference or phone. We are licensed by the Financial Services Regulatory Authority of Ontario (FSRA) and by the Insurance Council of British Columbia.

When is the best time to buy life insurance?

Every situation is unique. However today you may be insurable and tomorrow you may not. Furthermore, with added pressure on interest rates, insurance companies are starting to increase premiums. If you have a need for life insurance, it is always best to get insurance as soon as possible.

What is the difference between Whole Life and Term Life Insurance?

Whole Life is a permanent lifelong insurance solution which offers both a savings component and insurance. Term Life is a temporary solution which offers guaranteed premium and coverage for a specified period of time.

How much life insurance do I need?

Depending on your circumstances there are multiple ways to calculate how much insurance you may require. It could be a combination of eliminating debts, providing final expenses or replacing income. Whatever the methodology it comes down to what gives you peace of mind. Working with our experts we will provide guidance, however ultimately you will make the decision that puts your mind at ease.

How much does life insurance cost?

Many factors contribute to the cost of insurance. Age, smoking status, face amount, length of term, medical risks are all taken into account. Our experts at Protect Your Wealth will compare options to find the best solution for you.

Can you get coverage if you have health issues?

Yes it is certainly possible to get insurance. We have access to a wide variety of policies for all different types of health history.

Can I cancel my application or policy without any penalty?

You will always have complete control and are able to cancel any application at any time without penalty. Once the policy is put in force, you have a 10 day free no obligation look at the policy. Thereafter, you may cancel at any time without penalty regardless of the term (minus the premiums paid during the time coverage was in place). Note some policies may have a return of premium or cash value which after a certain time may allow you to receive 100% or more of all premiums paid.

How do I connect with someone to get a quote?

We offer multiple ways to service your needs. Phone, email, text, video conferencing and in person are all available. You may schedule a quick 15 minute initial consultation by visiting our schedule page found here: https://calendly.com/protectyourwealth/15min

Remember there are never any fees associated with using our award winning service.

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