Life/Health and Travel Insurance

FSCO licenses and regulates insurers that sell life and health insurance in the province of Ontario to ensure they comply with the law.

In Ontario, life and health insurance products are sold to consumers directly by companies or through insurance agents. All agents are required to be licensed with FSCO. Some agents sell products for one company and some agents sell products for many companies. Insurance companies that sell insurance directly to the public typically sell policies by telephone, direct mail or through the Internet. As policies and rates vary from company to company, it pays to shop around and compare coverages and rates.

For information on buying travel health insurance, select the link " Shopping for Travel Medical Insurance".

Insurers may write individual or group policies. Insurance coverage may include:

• accident and sickness
• life
• supplementary health
• out-of-country medical insurance

Life insurers may also sell other products such as segregated fund investments (Individual Variable Insurance Contracts).

Consumer Information:

• Licensing Link: Search for Agents Licensed in Ontario
• Shopping for Travel Medical Insurance
• What to do if You Have an Insurance Complaint

Company Information:

• Prudent Portfolio Investment Rules
• Insurance Licensing Information
• Becoming an Agent - Life Licence Qualification Program (LLQP)
• Update on Regulatory and Administrative Matters Affecting Ontario's Life Agents
• Licensing Bulletins
• Annual Returns & Instructions
• Conflicts of Interest, Compliance and Governance in Financial Services (PDF)
• IVICs Letter (August 2006)
• Report On Trading Practices Involving Individual Variable Insurance Contracts - June 2005
• Recommendations for Changes in the Regulation of Mutual Funds and Individual Variable Insurance Contracts (PDF)
• A Comparative Study of Individual Insurance Contracts (Segregated Funds) and Mutual Funds (PDF)
• Company Complaint Collection and Reporting Requirements
• Cost of Borrowing Disclosure Draft Regulations Under: Credit Unions and Caisses Populaires Act, Insurance Act, Mortgage Brokers Act