How to Become an Insurance Broker in Canada

Selling insurance is a great business. It’s less impacted by the recession and jobs are high-paying with tons of autonomy. And for anyone who retired out in this industry, there’s a lot of job openings for new people who want to become an insurance broker in Canada.

What is an insurance broker?

In Canada, insurance brokers are professionals who help their clients find appropriate insurance for their homes and automobiles. They are not the same as life insurance salespeople.

A good broker will help their client determine what they need, recommend an appropriate policy and get price quotes from several insurance companies. In the event that a claim needs to be filed, the broker will take care of this for the client and guide them throughout the process. Brokers should be empathetic individuals who are comfortable speaking with clients who have just faced a household incident or car accident.

You can become an insurance broker in Canada by following a very simple 3 step process:

  • Step 1: You’ll need to take the RIBO 1 course before taking this class.
  • Step 2: Passed the RIBO 1 exam
  • Step 3: Apply for the desired position or state that you’re a licensed professional and provide your license application. Your employer will sponsor your application.

In order to get the Level 1 (RIBO Entry Level 1) license, you need to submit your requirements and pass the exam. Once you do this, you’ll be able to sell general insurance from home, car travel and business insurance. If you want to take on more responsibility and make more money, consider getting additional licensing levels like your RIBO 2 Unrestricted Technical or RIBO 3 Unrestricted Management license.

Here’s the problem: most students only plan to study for one hour each day. Step 2 could be the trickiest part of the test. Students are left to read hundreds of pages of highly-technical text, or scour hours on Google looking for answers to their questions on their own.

To help with the stressful exam process, our simplified online courses teach exam concepts in a simple way via text and multimedia lectures. Each course is geared for all kinds of learning styles–so you’re guaranteed to be able to learn at your own pace. And if you ever get stuck on a concept, you can rely on expert help from our course tutors. Email: live chat, or phone when available.

Want to become an insurance broker in Canada?

Click here to learn more about and sign up for our RIBO 1 course.

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