If an advisor wants you to buy whole or universal life insurance, be sure it’s based on your needs—and not a big, fat selling commission. LSM Insurance looked at the average first-year commission and bonus that agents at Canada’s top five life insurers are paid when they sell new policies. While there are some situations where costly permanent life insurance makes sense, most families are better off buying cheaper term life insurance for a specific period, usually 10 or 20 years
