Who should you work with: an independent broker or a captive life insurance broker?

We aim to unveil the mystery of life insurance brokers: Independent broker or captive insurance broker? Does having strong ties with more insurers improve or erode the level of satisfaction of policyholders in Quebec? The method of remuneration of brokers determine if they work closely or not with insurers. With consumer confidence being the most important thing for insurers, the Canadian Life and Health Insurance, or ACCAP, announced measures to disclose their links with insurance brokers. Transparency on the commercial aspect of these links between insurers and independent brokers will help consumers to understand how well brokers receive equal monetary compensation. Captive brokers, meanwhile, have much closer connections with the insurance company. The link between the intermediary, the insurance broker, and the insurer is explained in this article to help clients determine the level of objectivity of their broker.