Independent health and dental cover advisor

Insurers pay you commission, so clients usually pay nothing directly. Typical clients are self-employed people, contractors, retirees, newcomers to Canada and families without workplace benefits.

Commission from the insurer on each policy sold, often with smaller renewal commissions while the client stays covered. Income is lumpy at first and grows as your client base builds.

• Explaining complicated products in plain language
• Honest, patient sales conversations
• Careful paperwork and record keeping

• You must be licensed in each province where you sell, and the rules differ. Check with your provincial regulator.
• Quebec has its own licensing and French-language requirements, so check with the AMF if you plan to sell there
• Errors and omissions insurance is usually required by MGAs or insurers, so check the cost and terms
• Commission may be clawed back if a client cancels early, so check chargeback rules in any contract
• Clients' health information is sensitive, so check the privacy rules that apply to you
• Ask an accountant how tax applies to your commission income

Startup costs are typically around $1,500 to $5,000, depending on licensing, software and insurance. Errors and omissions insurance is usually required by MGAs or insurers, so check its cost and terms.

Estimated monthly revenue is typically around $500 to $2,500, depending on how many clients you place. Insurers pay commission, and it may be clawed back if a client cancels early, so check chargeback rules in any contract.

Check licensing with your provincial regulator, since you must be licensed in each province where you sell. For Quebec, check AMF licensing and French-language requirements. Also check privacy rules for clients' health information and how tax applies to commission.