Frequently Asked Questions

Most likely, yes. Employer coverage is often limited (usually 1-2x your salary) and typically ends if you change jobs or retire. Personal coverage follows you regardless of your employment and can be customized to your actual needs.

A common rule of thumb is 10-12x your annual income, but your actual needs depend on your debts, dependents, income replacement needs, and future goals. We'll walk through a personalized calculation during your consultation.

Term life insurance covers you for a specific period (10, 20, or 30 years) and is generally more affordable. Permanent life insurance (like whole life or universal life) covers you for your entire life and can build cash value, but costs more upfront.

Often, yes. Many people with health conditions like diabetes, high blood pressure, or past cancer diagnoses can still qualify for coverage. We have access to multiple carriers with different underwriting guidelines, which increases your chances of approval.

For term life insurance with level premiums, your rate is locked in for the entire term (e.g., 20 years). For permanent insurance, most policies have level premiums for life. Renewable term policies can increase at renewal.

Your personal insurance coverage stays with you regardless of employment changes. This is one of the biggest advantages of having your own policy: it's portable and won't disappear if you change jobs, get laid off, or retire.

Living benefits include disability insurance and critical illness insurance: coverage that pays you if you're unable to work due to illness or injury. These policies protect your income while you're still alive, unlike life insurance which pays after death.

Workplace disability coverage is often limited in duration (short-term only) and may not cover your full income. Personal disability insurance can supplement workplace coverage, provide longer benefit periods, and follow you if you change jobs.

Critical illness insurance pays a lump sum if you're diagnosed with a covered condition like cancer, heart attack, or stroke. You can use the money however you need: paying bills, covering treatment costs, taking time off work, or traveling for care.

It varies. Simple cases can be approved in 1-2 weeks, while more complex applications requiring medical exams or additional underwriting can take 4-6 weeks. We'll keep you updated throughout the process.

It depends on the amount of coverage and your age. Many policies under a certain coverage amount can be issued with simplified underwriting (just health questions), while larger policies typically require a medical exam at no cost to you.

You'll need basic personal information (date of birth, address), health history, occupation details, and beneficiary information. We'll guide you through the entire application and make it as simple as possible.

For insurance products, we are paid a commission by the carrier, so there is no direct cost to you. For investment accounts via Modern Advisor, the all-in cost ranges from approximately 1.0% to 1.6% annually depending on account size. This includes everything: underlying fund fees, platform fees, and advisor management fees. No additional charges or transaction costs. For context, traditional bank mutual funds in Canada typically charge between 2.0% to 2.5% annually, though these fees are often embedded and less visible to investors.

We'll work with you to find a solution that fits your budget. Sometimes starting with a smaller amount of coverage is better than having none at all. We can also explore term policies, which are typically more affordable than permanent insurance.

Yes. Most policies have a 10-30 day "free look" period where you can cancel for a full refund. After that, you can still cancel at any time, though you won't receive a refund for term insurance premiums already paid.

We provide personalized advice based on your unique situation, shop multiple carriers to find you the best rates, help you navigate the application process, and remain your advocate if you ever need to make a claim. Online quotes can't do that.

We offer both. We're based in Northern Ontario and happy to meet in person when practical. We also offer virtual meetings via phone or video call, which many clients prefer for convenience.

Yes! While we're based in Northern Ontario, we're licensed to work with clients across Ontario. Whether you're in Timmins, North Bay, Sault Ste. Marie, or anywhere in between, we can help.

Reach out to book a free consultation. We'll discuss your situation, answer your questions, and provide personalized recommendations. There's no obligation and no pressure, just honest advice.

Modern Advisor is a digital wealth management platform that uses low-cost ETFs and professional portfolio management. Simple Route Financial refers clients to Modern Advisor for investment management and may receive a referral fee. Modern Advisor handles all investment decisions.

For Modern Advisor's Core Portfolio (passive index ETFs), the all-in cost ranges from approximately 1.0% to 1.6% annually depending on your account size. This includes everything: the underlying ETF fees, the Modern Advisor platform fee, and the Simple Route Financial advisor management fee. There are no additional fees, no transaction costs, and no hidden charges. This is your total cost. For context, traditional bank mutual funds in Canada typically charge between 2.0% to 2.5% annually, though these fees are often embedded and less visible to investors.

Yes! Modern Advisor supports all major registered account types including TFSAs, RRSPs, RESPs, and non-registered investment accounts.

Yes. Many workers in Northern Ontario leave pensions behind when they change companies or retire. We can help you transfer these "locked-in" accounts (LIRA, DCPP) to Modern Advisor. This consolidates your wealth in one place, often lowers your fees compared to generic bank funds, and ensures your retirement nest egg is professionally managed. If you are retiring, we can also help guide you through converting these into income streams (LIFs or RRIFs).