RBC Life Insurance
Compare life insurance quotes today to find out if RBC or another top provider offers the best rates.
RBC Life Insurance
RBC Insurance understands that no matter where you are in life, you need reliable but customizable life insurance. Family-friendly pricing, coverage with no medical exams and insurance-bundle options make this an easy option for everyone… from budding families to retired couples.
With 2500 employees serving 5 million people, RBC Insurance is one of the largest Canadian bank-owned insurance companies. Policies are distributed by RBC Insurance Agency Ltd and underwritten by the Aviva Insurance Company.
RBC Insurance also offers health, home, auto, travel, wealth and reinsurance plans, as a well as business insurance services. People can save up to 10 per cent when these are bundled together with life insurance.
Term Life for Flexibility
These plans are ideal for people who have a growing a family, as the premiums are typically lower than what competitors may offer. RBC allows customers to choose any term, from 10 to 40 years, and premiums are guaranteed for the entire term and beneficiaries receive a tax-free benefit.
RBC offers two term life plans:
- Simplified Term Life Insurance covers from $50-thousand to $500-thousand with premiums as low as $12.67 a month.
- YourTerm Life Insurance covers from $500-thousand to $25-million and can be converted to a different term policy or a permanent policy.
Optional Coverage YourTerm Life includes:
- Joint First-to-Die Option which covers two family members with benefits payable at first death.
- YourTerm Rider which adds more coverage to you or someone in your house.
- Total Disability Waiver of Premium where, after being disabled for six months, premiums and policy fees are waived while you’re disabled.
Permanent Life Insurance
These policies will ensure you have coverage for life. Premiums will not change, though these policies can’t be cancelled.
Guaranteed Acceptance Life Insurance requires no medical exams or health questions. You can be covered from $5 thousand to $25 thousand, but you must be age 50 to 75. If there’s an accidental death before age 85, the beneficiary gets five time the Basic Coverage. This plan also includes Compassionate Advance where, after being diagnosed with a terminal illness with less than 2 years to live, you could receive a percentage of the death benefit while still alive.
Term 100 Life Insurance has guaranteed premiums for life and coverage amounts of $50 thousand or more. This is for people aged 18 to 85 and will likely require a medical exam and a health questionnaire. Similar to the YourTerm Life Insurance, people can also include the Joint First-to-Die Option, as well as the Joint Last-to-Die-Option where there is coverage for two people, but the payout takes place when the last person dies.
Universal Life Insurance for lifetime coverage and investing
Similar to Permanent Life Insurance you will also have coverage for life. A portion of your premium purchases insurance while the rest earns interest. You can access the funds in the policy any time during your lifetime. Beneficiaries still receive a tax-free death benefit, though you can choose from level protection or increasing protection. You will also choose how much to pay into the policy and can create your own portfolio.
Benefits also include the Compassionate Advance, with optional coverage including Children’s Term Rider and the Accidental Death Benefit Rider.
Personal Accident Insurance
RBC Life Insurance knows people need coverage, in all situations. Personal Accident Insurance is toted as a good alternative for people who can’t get other types of insurance or have a higher-risk job. There are usually lower premiums with coverage from $25 thousand to $250 thousand. It’s available for people aged 18 to 69 and can supplement existing life insurance.
RBC insurance has a wide range of options and the security that you need from a life insurance company. And these are just some of the benefits offered by this company.