Financial Services Regulatory Authority of Ontario warns consumers that Hero Life Insurance is not licensed to sell insurance in Ontario

The Financial Services Regulatory Authority of Ontario issued a consumer warning that Hero Life Insurance is not licensed to conduct insurance business in Ontario and urged consumers not to obtain insurance products from it or through arrangements involving it. FSRA cautioned that consumers who purchase insurance from unlicensed individuals or companies are not protected under the Insurance Act. Reports indicate Hero Life Insurance is allegedly selling life and health insurance by contacting consumers by phone and email, with sales representatives posing as licensed Ontario insurance agents and pressuring consumers to disclose personal and confidential information. FSRA also clarified that Hero Life Insurance is not the same as InsuranceHero.ca, which it identified as a licensed independent brokerage in Ontario regulated through the Registered Insurance Brokers of Ontario. FSRA advised anyone who believes they may have been a victim of fraud involving Hero Life Insurance to contact their local police and encouraged consumers to verify licensing credentials through FSRA and RIBO resources.