Advisor Disclosure

The insurance industry's disclosure documents are usually handed over at signing, in small print. I'd rather you read mine before we ever speak. This page reflects the disclosure practices recommended for Canadian life insurance advisors, stated in plain language.

Who I am and how I'm licensed

I'm Michelle Filipenko. Group Shield Benefits is my registered trade name. I hold a life insurance licence with the Insurance Council of British Columbia, which regulates insurance licensees in this province — you can verify any BC licensee through the Council. I am licensed in British Columbia; if you reside elsewhere, I'll tell you plainly whether I can help you or refer you to someone who can.

The companies I represent

I place coverage with a curated shelf of insurers, principally Sun Life, Canada Life, Manulife, and Blue Cross. I am an independent advisor: no insurer owns my practice, sets my recommendations, or requires me to sell its products. My shelf is deliberately short — these are carriers whose financial strength and claims practices I trust — and I'll tell you when I think a product I don't sell is the better answer.

The role of IDC Worldsource Insurance Network

Like most independent advisors in Canada, I hold my insurer contracts through a managing general agency (MGA): IDC Worldsource Insurance Network Inc. (IDC WIN), one of Canada's largest life insurance MGAs. The MGA provides contract administration, application processing, and compliance oversight between advisors and insurers. IDC WIN does not direct my recommendations.

How I get paid

You pay me nothing directly. When a policy is placed, the insurer pays a sales commission, and may pay ongoing service commissions in renewal years. This is the standard compensation model for insurance advice in Canada, and because premiums are filed with regulators, you pay the same premium through me as you would buying the identical policy directly from the insurer or through any other channel — the commission comes out of the insurer's margin, not added to your price. Compensation can vary by insurer and product, which is exactly why you should feel free to ask about it. If you want to know the actual compensation on a policy I recommend to you, ask me and I will tell you.

I may also be eligible for non-monetary benefits from insurers or the MGA, such as conference attendance or training support, based on aggregate business volume. I'll disclose anything of this nature that's relevant to a recommendation I make to you.

Conflicts of interest

I'm required to recommend products suitable for your needs, and to identify any conflict of interest — actual or potential — before we transact. Beyond the compensation structure described above, I have no ownership interest in any insurer, and no insurer has an ownership interest in Group Shield Benefits. If a specific conflict ever arises in your file, I'll disclose it in writing and you decide how to proceed.

Your right to ask

You're entitled to ask about any of this — my licensing, my carrier contracts, my compensation on your specific policy — at any point, and to receive a straight answer. That's not a courtesy; it's how this is supposed to work.

Questions? Call me at 604-329-1439.