1. Agreement to Terms
These Terms of Service ("Terms") constitute a legally binding agreement between you ("you," "your," or "user") and Rafiki Financial Services Ltd. ("Rafiki Financial," "we," "us," or "our"), a licensed insurance brokerage operating under the laws of the Province of Ontario and registered with the Financial Services Regulatory Authority of Ontario (FSRA) and equivalent bodies across Canadian provinces.
By accessing or using our website (www.rafikifinancials.com), requesting a quote, submitting an application, or engaging our services, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree, please discontinue use of our services immediately.
2. Our Services
Rafiki Financial Services is an independent insurance brokerage and financial services firm. We provide:
- Insurance brokerage services for life, health, disability, travel, and specialty insurance products.
- Financial planning and investment advisory services including RRSP, RRIF, RESP, TFSA, FHSA, LIRA, and GIA products.
- Quotes, comparisons, and recommendations from multiple Canadian insurance carriers and financial institutions.
- Policy administration, claims assistance, and ongoing client support.
Important: We act as an intermediary between you and insurance underwriters/financial institutions. All insurance policies are subject to the terms, conditions, and underwriting approval of the issuing insurer. All investment products are subject to the terms of the issuing financial institution.
3. Eligibility
By using our services, you represent and warrant that:
- You are at least 18 years of age (or the age of majority in your province/territory).
- You are a Canadian resident or legally entitled to purchase insurance or investment products in Canada.
- You have the legal capacity to enter into binding contracts.
- All information you provide is true, accurate, current, and complete.
- You are not obtaining coverage or products for fraudulent or unlawful purposes.
4. Quotes and Applications
4.1 Quotes
- All quotes provided through our website or by our advisors are estimates based on the information you provide.
- Quotes are not guaranteed and are subject to verification of your information and underwriting approval by the insurer.
- Quoted premiums may change based on additional information discovered during the application process.
- Quotes are valid for the time period specified (typically 30 days) and may be subject to change by the insurer.
4.2 Applications
- Submitting an application does not guarantee approval or coverage.
- All applications are subject to underwriting review and approval by the issuing insurance company.
- You must disclose all material facts and answer all questions truthfully. Failure to disclose or misrepresentation may void your policy or result in claim denial.
- We may share your application information with insurers, underwriters, and other necessary third parties to process your application.
5. Your Obligations
When using our services, you agree to:
- Provide accurate, complete, and truthful information at all times.
- Notify us promptly of any changes to your personal information, health status, or circumstances that may affect your coverage.
- Pay all premiums and fees when due.
- Not use our website or services for any unlawful purpose or in any manner that could damage, disable, or impair our systems.
- Not attempt to gain unauthorized access to any portion of our website or systems.
- Maintain the confidentiality of any account credentials or passwords.
6. Fees and Payments
- We are compensated through commissions paid by insurance companies and financial institutions when you purchase products through us. You typically do not pay additional fees for our brokerage services.
- Premium payments for insurance policies are due as specified in your policy documents. Failure to pay premiums may result in policy cancellation or lapse of coverage.
- Investment product fees, management expense ratios (MERs), and other charges are disclosed by the issuing financial institution in their respective product agreements.
- Some specialized advisory services may incur separate fees, which will be disclosed and agreed upon in advance.
7. Cancellation and Refunds
- Insurance policies may be cancelled in accordance with the terms of the specific policy and applicable provincial insurance legislation.
- Most life insurance policies include a free-look period (typically 10-30 days) during which you may cancel for a full refund of premiums paid.
- Investment products are subject to the cancellation and withdrawal terms of the issuing financial institution.
- To cancel a policy or service, please contact us in writing at info@rafikifinancials.com.
8. Intellectual Property
All content on our website, including text, graphics, logos, icons, images, audio clips, and software, is the property of Rafiki Financial Services Ltd. or our licensors and is protected by Canadian and international copyright, trademark, and other intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from any content without our prior written consent.
9. Limitation of Liability
To the fullest extent permitted by applicable law:
- Rafiki Financial Services shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services.
- Our total liability for any claim arising from these Terms shall not exceed the total amount of premiums you have paid to us in the twelve (12) months preceding the claim.
- We are not liable for decisions made by insurance underwriters regarding policy approval, premiums, or claims.
- We are not liable for investment performance or losses. All investments carry risk, and past performance is not indicative of future results.
- Nothing in these Terms excludes or limits liability for fraud, gross negligence, or any other liability that cannot be excluded under applicable law.
10. Disclaimer of Warranties
Our services are provided on an "as is" and "as available" basis. We make no representations or warranties of any kind, express or implied, regarding the accuracy, reliability, completeness, or suitability of any information provided. Insurance and investment recommendations are based on the information you provide and are not a substitute for independent professional advice tailored to your specific circumstances.
11. Indemnification
You agree to indemnify, defend, and hold harmless Rafiki Financial Services Ltd., its officers, directors, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or in connection with your use of our services, your violation of these Terms, or your violation of any rights of a third party.
12. Privacy
Your privacy is important to us. Our collection, use, and disclosure of your personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference.
13. Termination
We reserve the right to suspend or terminate your access to our services at any time, with or without cause, and with or without notice. Upon termination, all provisions of these Terms that by their nature should survive termination shall survive.
14. Governing Law and Jurisdiction
These Terms shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict of law principles. Any disputes arising under these Terms shall be subject to the exclusive jurisdiction of the courts of Ontario. If you are a resident of another province, applicable provincial consumer protection laws will also apply.
15. Changes to These Terms
We may revise these Terms at any time by updating this page. The updated Terms will be effective immediately upon posting. Your continued use of our services after changes are posted constitutes your acceptance of the revised Terms. We encourage you to review these Terms periodically.
16. Severability
If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
17. Contact Us
If you have any questions about these Terms of Service, please contact us:
