Privacy & Disclosure Policies

Regarding the Collection, Usage, Storage, and Sharing of Personal Information.

Commitment to Privacy Protection

I adhere to the federal Personal Information and Electronic Documents Act (PIPEDA) and relevant provincial privacy laws, upholding the highest standards of confidentiality for the protection of your personal information (PI). In line with the Canadian Anti-Spam Legislation (CASL), I engage in electronic communications only with your consent or when it’s necessary for maintaining the active status of your policy.

Protection of Your Personal Information

My employees, associated advisors, wholesale organizations, and suppliers with access to client records are legally bound to keep this information confidential and use it only for the identified purposes. I ensure the security of client information through physical and system safeguards and established processes. Your PI is not sold or shared with external organizations for their own marketing purposes.

Limitations on Use, Disclosure, and Retention

I use and disclose personal information solely for the purposes it was collected for, except as consented by you or as required by law.

Responsibility for Personal Information

I am accountable for the PI I receive from you and commit to protecting it with suitable measures, regardless of its form.

Your Privacy Preferences

You have the right to withdraw consent for retaining your PI at any time, subject to legal or contractual constraints, by giving reasonable notice. Withdrawal of consent may impact my ability to provide you with relevant product or service updates.

Your Complaint Rights

Should you believe there’s been an unauthorized breach of your PI, you have the right to file a confidential complaint with me, the insurer, or the Privacy Commissioner of Canada.

With your consent, I collect information necessary for advising and recommending suitable products or services. This includes personal, corporate, financial, and health details, used solely for advice purposes. I share your PI with insurers through Managing General Agencies (MGAs) like HUB Financial Inc. for administrative purposes. I may also share this information for expert consultation outside my expertise. Much of the information is retained for regulatory compliance, ensuring my recommendations address your needs.

By consenting, you acknowledge my obligation to obtain your consent under PIPEDA for using your personal information. This information is collected to assist in evaluating your insurance needs. I may request personal information, including sensitive financial and medical details, to:

Evaluate your insurance needs;
Identify suitable financial and insurance products;
Consult insurers regarding product suitability;
Obtain information from third parties like doctors, lawyers, or insurers;
Share information with third parties for assistance in the services provided;
Determine eligibility for reinsurance, if necessary.

You consent to third parties providing relevant personal information and agree to its sharing for the aforementioned purposes.

Security Measures

I/We take significant measures to protect your personal information from unauthorized access or risks, employing organizational, technological, and physical safeguards.

Consent Withdrawal: Your consent for the collection, use, or disclosure of personal information as outlined can be withdrawn, impacting our ability to assist with your insurance needs. For withdrawal or information access or correction, contact your insurance advisor.

Compliance with CASL: Under CASL, you authorize electronic communications from me for insurance-related needs and information about beneficial products and services. Consent withdrawal is available at any time.

Disclosure Statement

As the President of Abrams Insurance, specializing in life insurance, employee benefits, living benefits, and investment products like segregated funds in Ontario, it’s my duty to provide a clear disclosure of any potential conflicts of interest to my clients. Understanding the products I offer and the companies I work with is crucial for you to make informed decisions. Below is information about my business relationships, the products I offer, and how I am compensated. Please read this information carefully, sign, and date it. You will receive a copy, and I will keep one in your client file.

About me:

I am licensed to sell life insurance, employee benefits, living benefits, and investment products like segregated funds in Ontario. My services include providing coverage for life insurance (both short-term and permanent), disability income protection, critical illness, and long-term care insurance. I also assist clients with investment plans such as annuities and segregated funds.

Products Available

My recommendations are tailored to your financial and security needs, chosen from a wide range of products. I have access to various insurance company products through HUB Financial Inc., including numerous active insurer contracts.

Nature of my Business Relationships

At Abrams Insurance, I maintain a business model that is independent of any insurance company. This autonomy ensures that no insurer holds ownership in my business and vice versa, enabling unbiased advice and product selection.

Compensation

If you purchase a product through Abrams Insurance, we receive compensation from the product provider. This typically includes a sales commission upon policy delivery and acceptance, and a renewal commission for policies that remain active. For certain products, the compensation structure might differ, and I will notify you if a referral fee applies. Achieving specific sales thresholds may qualify Abrams Insurance for additional compensation like bonuses or incentive travel, a standard practice in the industry.

As an insurance advisor, I adhere to the industry’s codes of conduct and laws, ensuring the products I recommend are the ones I believe best fit your needs, irrespective of the compensation involved.

Conflict of Interest

I take conflict of interest concerns seriously and will inform you both verbally and in writing if a potential or actual conflict arises. My recommendations are unbiased and are based on an independent survey of companies offering the desired products.

Client’s Right to Ask for More Information

For further information about my qualifications or business relationships, feel free to contact me.