Life Insurance in New Westminster, BC

I'm Milo Sarmiento, a licensed life insurance and investment broker. My office is in Uptown New Westminster at 610 6th Street, Suite 255. I help New West families and individuals compare life insurance from Canada's major insurers and pick a plan that fits their budget, their mortgage and their family.

Why work with a local New Westminster broker

A bank or a single insurer can only offer you its own products. As an independent broker I compare several insurers side by side, so you see the price differences and the policy differences before you sign anything. Premiums are set by the insurer, so going through a broker does not cost you more.

• One meeting, several quotes. I compare insurers including Sun Life, Manulife, Canada Life, Empire Life, iA and Equitable Life.
• Close by. The office is in Uptown, so it is easy to reach from Queen's Park, Brow of the Hill, the West End, Sapperton, Downtown and the Quay. Queensborough is a short drive over the bridge.
• Phone or video works too. You never have to visit the office. We can do the whole thing by video call.
• English and Tagalog. I'm glad to explain your policy in either language.

Coverage I help with

• Term life insurance — a set amount of cover for 10, 20 or 30 years, usually the cheapest way to protect a young family or a mortgage. See mortgage insurance vs term life in BC.
• Whole life and universal life — permanent cover that lasts your whole life and can build cash value. See term vs whole life for young families.
• Critical illness insurance — a tax-free lump sum if you are diagnosed with a covered illness such as cancer, heart attack or stroke.
• Investments — TFSA, RRSP, RESP, FHSA and segregated funds, so your savings plan and your coverage work together.

Things New Westminster families often ask about

Condo and townhouse mortgages. A lot of New West homes are condos and townhouses bought with a mortgage. The lender's mortgage insurance pays the bank, and the cover shrinks as the mortgage shrinks. A personal term policy pays your family instead, and the amount stays the same. It is worth comparing the two before you renew.

Naming your children as beneficiaries. In BC a child cannot receive a life insurance payout directly until age 19. If you name a minor without a trustee, the money can end up held by the Public Guardian and Trustee. Read why you should name a trustee for a minor beneficiary.

Newcomers to Canada. If you have just arrived, you may be able to get coverage sooner than you think. See life insurance for newcomers in Metro Vancouver and financial planning for Filipino families in BC.

How it works

1. Free first call. We talk about your family, your debts and what you already have through work.
2. I compare insurers. I bring you quotes from several companies, with the differences explained in plain language.
3. You decide. No pressure. If you go ahead, I handle the application and stay your contact for reviews and claims.

Not sure how much you need? Start with how much life insurance you really need in BC.

Frequently asked questions

Where is your New Westminster office?

Suite 255, 610 6th Street, New Westminster, BC V3L 3C2, in Uptown New Westminster. Meetings are by appointment, in person or by video call. Open in Google Maps.

Do I have to come to the office?

No. Many people prefer a phone or video call. If you would rather meet in person, the office is in Uptown New Westminster at 610 6th Street.

Does a named beneficiary avoid probate in BC?

Yes. In BC, a life insurance payout to a named beneficiary (not your estate) is paid directly to that person and does not pass through your estate, so it is not counted for probate fees.

What does a consultation cost?

The consultation is free. Premiums are set by the insurer, so comparing through a broker does not cost you more than buying direct.

Also serving nearby: life insurance in Burnaby.