Community life insurance broker

Insurers pay commission on policies you arrange. Clients are families and individuals who prefer face-to-face advice, often in their own language.

Commission on each approved policy, plus renewals and referrals. Trust and word of mouth usually drive growth, so income tends to build slowly.

• Relationship building
• Speaking the community's language, if relevant
• Presenting to small groups
• Patience with longer decisions

• Licensing rules vary by province and territory, and Quebec has French-language and AMF requirements
• Be careful with advice for newcomers and vulnerable clients, explain products clearly and check your regulator's conduct rules
• Errors and omissions insurance is usually needed, check with your MGA or regulator
• Travel time and winter driving can eat into your day, plan your meetings by area
• Chargebacks on lapsed policies can reduce earnings, so focus on cover people can keep paying for

Estimates suggest startup costs are typically around $2,500 to $8,000 CAD, depending on licensing, errors and omissions insurance and the events and travel you plan. Check requirements with your MGA or regulator.

Licensing rules vary by province and territory, and Quebec has French-language and AMF requirements. Also check your regulator's conduct rules for advice to newcomers and vulnerable clients, and errors and omissions insurance requirements.

Monthly revenue is typically estimated at around $1,500 to $7,500 CAD, depending on your client base and the policies you arrange. Chargebacks on lapsed policies can reduce earnings. Expect roughly 20 hours a week or more.