Cover - World Financial Group Canada

World Financial Group Canada

By David Duford - January 03, 2023 - 5 Mins Read

If you’re considering a career selling insurance, this article about World Financial Group Canada is for you. Here you’ll learn more about the agency as well as selling insurance in general. 

Let’s start.

PS: This article is a part of my insurance sales job review series that you can read here

NOTE: My new Free Insurance Agent Resource Guide will answer all the questions you might have about selling insurance as a new agent.


About World Financial Group Canada

World Financial Group was founded in 2001. It is owned by Transamerica, a subsidiary of Aegon. WFG sells insurance along with other financial products through a network of distributors in the United States, Puerto Rico, and Canada. The company is headquartered in Johns Creek, Georgia.

 The WFG Canadian division, known as World Financial Group Insurance Agency of Canada, is based in Toronto, Ontario, and has 155 offices across Canada.

Products Sold And Market Focus

World Financial Group Canada sells the following products and services: 

    • Life insurance protection (life and disability insurance, segregated funds and guaranteed interest accounts )

    • Retirement savings (annuities, registered retirement savings plans, tax-free savings accounts)

    • Estate preservation

    • Education planning

    • Financial needs analysis and goal setting

    • Financial investment strategies for small businesses.

Some of these products are only offered in Canada and are not available for the US market. 

WFG Canada partners with many well-known carriers, such as Ivari, Equitable Life of Canada, BMO, IA Financial Group, Everest Funeral Concierge, and Canada Protection Plan. 

WFG Canada offers no specific information about how leads are generated and whether they have any established lead systems to help agents look for prospects. This means that as a new agent, you’ll most probably have to rely on cold calling to build your book of business.

How Getting Paid Works


The income of WFG Canada agents is 100% commission based, which is typical in the insurance industry.

WFG offers several different earning models:

    • Personal income: you earn a commission each time you write a new business

    • Expansion income: you are free to expand your business anywhere in North America

    • Bonus income: a commission is earned based on the entire company’s production

    • Agency income: you build a team of new agents and earn a percentage of their sales. 

Besides, WFG offers several different tools and marketing resources to help new agents grow their businesses:

    • The WFG Pulse app that allows to track team production and sales from any mobile device 

    • Salesforce, a CRM software designed to store and organize client and prospect data

    • MyWFG, the agent website with access to key business reports, company updates, and regulatory guidance

    • WFG personal agent websites with customization options

    • Campaign Manager with a library of pre-approved, professionally designed emails and social media posts to facilitate launching a marketing campaign.

WFG Canada also offers training through webinars and educational courses as well as back-end support for new agents.

You should keep in mind that there are certain fees involved in starting your business with WFG Canada:

    • The initial fee to associate: $130

    • Pre-licensing education fee: $169

    • Exam fee: $100 (varies by province)

    • Errors & omissions costs for life licensed agents: $420 per year

    • Platform fee for licensed agents: $25 per month.

Is It A Scam, MLM, Pyramid Scheme?

WFG is a reputable Transamerica company with a long presence in the business.

Although like many insurance companies, WFG is based on an MLM business model where agents can get paid on multiple levels of production, you are not required to recruit in order to have a successful business. 

WFG is not a pyramid scheme, which is an illegal business model with no real product or service. 

My Thoughts

Now that you’ve learned more about selling insurance with WFG Canada, I’d like to share my views on selling insurance as an experienced insurance agency owner. 

The Importance of Leads

We’ve seen that WFG Canada offers no information about lead generation. In fact, many insurance agencies don’t offer any in-house lead programs. 

However, this may be a problem because in the insurance sales business, you have to see as many people as possible to increase your chances of success. If an agency offers no lead programs, then you’ll have to find prospects on your own instead of focusing on selling insurance. 

Ideally, you should be able to use a pre-existing, proven system to help you find prospects like the one we use in my final expense agency, Duford Insurance Group. 

That’s why I recommend that before you consider working with an insurance company, you make sure that they have a lead system that will help you pitch to prospects. 


I hope this review on selling insurance with WFG Canada was useful and will make your decision-making process easier. 

If you want to learn more about selling insurance, feel free to consult my Insurance Agent Resource. It’s a good starting point for anyone interested in an insurance selling career and it’s completely free. 

To find out more about my agency, Duford Insurance Group, visit the FAQ page.

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