Point of Sale Disclosure
Thank you for your interest in Innovative Life Insurance Agencies Inc. At Innovative Life Insurance Agencies Inc.
We believe that it’s important to make it clear to our clients and potential clients what we do, how we do it and what type of work and results they can expect from us.
We want you to know the type of relationship we build with our clients and the support we will strive to earn from that relationship. We believe that this full, shared disclosure will serve as the basis for a long and mutually beneficial relationship.
At Innovative Life Insurance Agencies Inc. we focus on the unique income protection requirements of individuals, families and small business owners. We research, develop and implement an innovative approach to your estate, insurance and investment insurance needs.
What you can expect from Innovative Life Insurance Agencies Inc.:
- We are independent professionals who only recommend those insurance planning strategies and products that we ourselves would use if we were in similar circumstances.
- In choosing and recommending disability insurance coverage, Innovative Life Insurance Agencies Inc. and our independent contracted advisors represent you, the client. Innovative Life Insurance Agencies Inc. has access to the major insurance carriers, but place the majority of our business with Manulife Financial with respect to individual disability products. In regards to your other insurance needs, we also deal with Manulife Financial, Assumption Life, BMO Insurance, RBC Insurance, Canada Life, Ivari, Empire Life, Equitable Life, Industrial Alliance, Green Shield Canada, Tugo, Benecaid, depending on your specific circumstances.
- We maintain your file completely confidential and will release your information to no one unless required by law.
- With your agreement, all of our recommendations are based on a thorough understanding of your situation.
- We offer regular reviews of your situation when you desire to make any modifications to your coverage.
- We respond to your questions as soon as we are able and return of all telephone calls and e-mail inquiries.
- We treat all new client referrals from you with the professionalism we do you and realize that an endorsed referral is the highest praise we can receive for our work.
- In the event that you are dissatisfied with our service and we cannot make satisfactory improvements we will transfer your client file with us without fee or condition to any other financial services professional you choose.
- We subscribe to our industry standard Code of Ethics and always hold your needs above our own.
What we will need from you….
Your open mind to new and innovative approaches to dealing with your financial affairs.
- Full disclosure of the personal and business information we require in order to make an appropriate recommendation based on your situation.
- Serious consideration of our recommendations and proposals.
- The right to do business with you on matters we have drawn to your attention.
- Full and accurate disclosure of all information required by the underwriters of any insurance we may undertake to arrange on your behalf.
- Prompt notification of all corporate and personal events that could possibly affect your financial exposure or insurability.
- Your permission to use your personal information to advise you of future needs, service your accounts and policies and to aid you and your heirs in making claims.
- Open communication with us to let us know how we are doing. If we’re off track tell us fast. Please call our office toll free from anywhere in Canada at1-800-265-4275. If we are doing well, your personal endorsement to others in similar circumstances when you believe that our advice has been valuable to you.
- If you have any questions about our collection, use, or disclosure of client information;
- If you would like access to the personal information about you held by us;
- If you have any complaints or other inquiries; or
- If you would like to receive written information about our policies and practices;
Click the links below to download our Initial PA Claim Form or our PA Pre-Authorized Debit Form.
Scope of Services
Innovative Life Insurance Agencies Inc. is licensed to transact financial services in a number of classes and business, including: Life Insurance, Disability Insurance, Critical Illness Insurance, Travel Insurance, Long Term Care Insurance, Segregated Funds, and Employee Benefit packages.
Our specialty is disability insurance. We are always working to enhance our knowledge in this market segment and are confident of our advice in this respect. You can count on us as your source for your disability insurance products and service.
To provide you with the full range of financial advice and products if required, we also have at our disposal a team of licensed independent contracted advisors specializing in each of the other fields indicated above. Through our association with these qualified professionals our clients get dedicated professionals specializing on each of the particular needs.
Whenever we come across situations that would be more appropriately handled by another specialist, we promise that we will make the appropriate referral.
Our independent contracted advisors and Innovative Life Insurance Agencies Inc. are compensated by the companies with whom we place your business. This compensation is usually in the form of commissions paid when your contract is issued and delivered. This commission is paid from the premium you pay – it is not an additional cost to you.
The amount of the commission will depend on which plan(s) you purchase. Sometimes our compensation is on the basis of continuing commissions’ payable each year your plan is in effect. We are also liable to repay commissions received if your business does not stay with the supplier company according to their regulations.
Our company and our independent contracted advisors may receive other benefits such as bonuses and incentive prizes should a certain volume of sales be achieved.
In addition, we hope to build a relationship with you where you will feel comfortable referring us to friends and associates that you feel might be able to benefit from meeting us. This is the most valuable compensation for us.
We Care About Your Privacy and Security
As a valued client, we offer you the opportunity to learn about our privacy policies.
We are committed to building your trust and confidence by promoting and complying with the use of business practices that help protect the privacy of our clients.
You will have the opportunity to review our policies for collecting, using, securing, and sharing information the first time we do business with you.
Privacy & Security
We value your privacy. This policy describes how we handle personal information.
Our Privacy Principles
- We do not sell client information.
- We do not allow those who are doing business on our behalf to use our client information for their own marketing purposes.
- We contractually require any person or organization providing products or services on our behalf to protect our client information.
- We do not share client medical information with affiliated companies unless: •You expressly authorize it; or
- It is permitted or required by law; or
- Your insurance policy contract with us permits us to do so.
- We afford our prospective and former clients the same protections as existing clients with respect to the use of personal information.
We Protect Client Information
We maintain physical, electronic, and procedural safeguards to protect client information. In addition, we regularly review our policies and practices, monitor our computer networks, and test the strength of our security.
Information We Collect
Types of information we collect and how we gather it may include:
- From your applications and other forms related to our products and through your conversations with Innovative Life Insurance Agencies Inc. representatives, including agents
- From your transactions or experiences with us, such as payments, underwriting, and claims
- From affiliated companies
How We Use Information About You
We use client information to:
- Underwrite and rate your policies
- Service your claims
- Service your billing
- Service your policies
- Enhance your client experience
- Offer you other insurance and financial services products that may suit your needs
- Prevent, detect and prosecute fraud
Your Awareness and Permission
By purchasing our insurance or financial services, you provide us with your consent to the collection, use and disclosure of certain personal information, including that previously collected, for the purposes of communicating with you, our insurers; assessing your application for insurance and financial services products, and underwriting these products; servicing claims; detecting and preventing fraud; analyzing business results; and acting as required by law.
We may also use personal information in order to tell you about other insurance or financial services products that may suit your needs.
If you would rather not receive such additional marketing information, please contact your agent.
You have the right to access and correct the personal information we have on file about you by contacting us at the address or phone number listed below.
How We Share Information About Our Clients
We share information about you, including information about our service transactions (such as payments and claims) with you with our affiliated companies and with Innovative Life Insurance Agencies Inc. agents to help meet your current product and service needs. We share information about you with third parties for our everyday business purposes and as permitted or required by law. We share information about you with companies that perform marketing or other services for us or with whom we have joint marketing agreements. These agreements allow us to provide a broader selection of insurance and financial products to you.
We reserve the right to transfer any personal information we have about you in the event that we sell or transfer all or a portion of our business or assets to a third party.