PRO's E&O Insurance for Canadian Life Insurance Agents
$42.50 /month
$485 /year, All taxes and fees included
PRO’s E&O is designed specifically for licensed agents. Individual and agency coverage, competitive pricing, and a fully online application.
- Licensed across Canada (excl. Quebec & PEI)
- Cancel Anytime
- Comprehensive Coverage
Errors and Omissions (E&O) insurance is mandatory before you can hold an active Life Insurance Licence in Canada. PRO’s E&O is designed specifically for licensed agents – individual and agency coverage, competitive pricing, and a fully online application.
What Is E&O Insurance and Why Is It Required?
E&O insurance protects you if a client claims your advice caused them financial harm. For example: if a client says you recommended the wrong type of coverage or failed to explain an exclusion, and they sue, then E&O covers your legal costs and any settlement, up to your coverage limit.
Every province requires licensed life insurance agents to carry E&O coverage. Your sponsoring insurer will confirm this before activating your licence. Without it, you cannot hold a valid licence.
Why PRO’s E&O Through LIP Is Different
Most new agents either pay retail E&O rates through their brokerage’s default program, or spend hours researching options independently. LIP’s exclusive program with PRO’s E&O eliminates that friction – $485 per year, no shopping required, coverage you can get in place quickly before your licence activates. It’s the kind of practical support that a tier-one recruiter relationship provides from day one.
What’s Covered With PRO's E&O
Negligent Advice
A client claims your recommendation caused financial loss
Errors in Applications
Mistakes on a client’s policy application
Omissions in Explanation
Failure to disclose an important feature or exclusion
Client Complaints
Costs of responding to formal regulator complaints
Coverage Limits
Option | Per Occurrence | Annual Aggregate |
Option 1 | $1,000,000 | $1,000,000 |
Option 2 | $1,000,000 | $2,000,000 |
Option 3 | $2,000,000 | $2,000,000 |
PRO’s E&O: $485 per year. Payable by credit card annually, or by monthly pre-authorized debit. Policy year runs April 1 to April 1. New agents joining mid-year pay a pro-rated premium for the remainder of the policy year. Pricing is the same regardless of province. Not available in Quebec or PEI.
Eligible Products
- Life Insurance: term, whole life, universal life
- Accident & Sickness: disability and critical illness
- Annuities and GICs
- RRSPs, RRIFs, RESPs, RDSPs, TFSAs
- Segregated funds
Eligible Provinces
PRO’s E&O is currently available in the following provinces and territories: Ontario · British Columbia · Alberta · Saskatchewan · Manitoba · Nova Scotia · New Brunswick · Newfoundland & Labrador · Northwest Territories · Yukon
Quebec and PEI are not eligible at this time. Quebec agents are subject to AMF regulations and separate E&O requirements.
Register with LIP to Access PRO’s E&O
Once you’ve completed your LLQP course, register with our featured recruiter to receive your E&O program details and get covered before your licence activates.
Your Path to Becoming a Licensed Life Insurance Agent
No confusion. No wasted time. Just a straightforward path from beginner to licensed professional.
3
Get Your LLQP
Sign up for the LLQP course through an approved provider. 4–12 weeks online.
4
Get Licensed
Pass the provincial exam. Get your E&O. Submit your licence application.
5
Start Training
Mentorship from day one with our Canadian Life Insurance Partner.
6
Start Earning
Work from home. Real clients provided. No cold calling.