LSM Insurance has been helping our customers in British Columbia with all their life insurance and living benefits needs over 25 years. We served customers in Vancouver, Victoria, Surrey, Kamloops, Kelowna and in many other BC locations through our local, experienced life insurance brokers.
Vancouver, BC, Canada
Surrey, BC, Canada
Kamloops, BC, Canada
Kelowna, BC, Canada
Victoria, BC, Canada
Nanaimo, BC, Canada
Insurance products we offer in British Columbia:
Life insurance in British Columbia, and across Canada, is tied to individual risk. Those in British Columbia’s popular industries of forestry, fishing, mining, and construction have a higher risk than those in office settings. However, that doesn’t mean access to great policies at affordable rates is out of reach. Our brokers work with a variety of insurers to make sure everyone, regardless of their health or risk factors, has access to the life insurance they need.
The Insurance Council of British Columbia (ICBC), a regulatory body appointed by BC’s provincial government, is responsible for overseeing agents, salespersons, brokers, and adjusters; promoting ethical and integral conduct; and providing licensee resources. ICBC lists licensed insurance professionals
Life insurance in British Columbia depends on a variety of factors, including you age, risk profile, family history of illness, insurer, and desired financial outcomes (such as leveraging tax advantaged savings through whole or universal life insurance). While it is possible to get life insurance in minutes or online, connecting with an experienced broker in BC enables you to get the best policy at the best price. Brokers have access to more than 25 insurers and can preview the applications, so they know which policy is your best path to approval. Don’t spend more than you have to for a policy that ultimately doesn’t fit your goals.
The following provides average rates for several types of life insurance in BC.
Live insurance rates in BC vary based on the type of coverage you need (life, disability, critical illness, health, etc.) and your risk factors. Term life insurance in British Columbia is the cheapest, but rates increase with each expiry. For example, a healthy 35-year old female non-smoker can get Term 10 insurance from RBC for as low as $16.97/month. Permanent insurance has higher initial costs, but when purchased in your younger years, saves you money over the long term and can help build cash savings. Speak with a broker in BC to find your ideal policy at the best rate.
Life insurance in British Columbia can be purchased through an agent, a broker, some banks, over the phone, or online. A broker’s service is free for you to use and they do all the research for you, comparing rates and policy terms to find your ideal quote.
The Insurance Council of British Columbia oversees brokers in BC and manages all the aspects of licensing. You need to make sure that your insurance broker is licensed with the Insurance Council of British Columbia before doing any business with her or him.
Disability insurance in British Columbia can be purchased through an agent, broker, and some banks (may be in the form of debt, loan, or mortgage insurance where the bank is the beneficiary). Disability insurance is very nuanced and tied to your occupation. Consult with a broker as there are several factors to consider – including the fact that you cannot have benefits that total more than around 85% of your income; you cannot stack disability insurance policies.
