Related Topics:
Replacing existing insurance | The sales and closing interview | Rating Life Insurance Companies | Choosing the life insurance policy | Product Descriptions

Canadians are fortunate to have access to some of the best life insurance companies in the world. According to the 1998 Canadian Life and Health Insurance Facts published by the Canadian Life and Health Insurance Association, about 10 million people in more than 20 countries own life insurance policies with Canadian life insurers. More than 24 billion or 44 per cent of total worldwide premium income is received by foreign clients. These figures attest to the strongly competitive nature of the business in Canada, and to the confidence of foreign clients in the soundness of Canadian insurers.

Informed consumers and demanding brokers force companies to be competitive in all areas of their business including product, pricing, underwriting and compensation. The need to be competitive has forced most companies to apply their resources to product manufacturing away from recruiting, training and housing a captive sales organization. More are relying on "independent" brokers to sell their products and many of those are relying on Managing General Agents or organizations such as Insurance Desktop for service and support.

Most producers deal with several different companies and make their selection for each sale based on product preference, underwriting practice or specific service need.
[top]

Related Topics:
Replacing existing insurance | The sales and closing interview | Rating Life Insurance Companies | Choosing the life insurance policy | Product Descriptions