5 Types Of Life Insurance New Brunswick

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Any person, whether a resident of the Province or not, who carries on the business of an insurance agent for life insurance or life and accident and sickness insurance in New Brunswick must have a valid licence. This applies to all types of selling, whether in person, in writing, or by telephone.

The Insurance Division provides day-to-day administration of the Insurance Act through the regulation, oversight and licensing of insurers and insurance intermediaries (adjusters, agents and brokers, damage appraisers). This includes both life and health, and property and casualty insurance in New Brunswick.

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Licence Types. Being licensed authorizes such individuals to carry on the business of an insurance agent for life insurance or life and accident and sickness insurance. All applicants for a licence must have the sponsorship of an insurer who is licensed to conduct the business of life insurance in New Brunswick.