Facts & Information Page:
RBC Life Insurance - Canada

Canadian Money Advisor Rank

Product Names

Product Name


RBC Term 10 Life Insurance

RBC Term 20 Life Insurance

RBC Term 100 Life Insurance

COMPANY CONTACT INFORMATION:

RBC Life Insurance
6880 Financial Drive, West Tower
Mississauga, ON L5A 7Y5
Website:http://www.rbcinsurance.com

Customer Service Phone: 888-728-6666
Customer Service Fax:905-526-3100

Contact's Name:Cathy Dowell
Contact's Phone:888-728-6666
COMPANY INFORMATION AND BIOGRAPHY:

Royal Bank of Canada is the largest financial institution found in Canada. It is operating under the RBC Financial Group. The bank is having over 1,100 branches and almost 4,000 automated banking machines. RBC Canada is the leading issuer of consumer loans, home mortgages, personal deposits, business loans, money management, and mutual funds. RBC Insurance is considered as one of the major provider of life insurance in Canada and also focus in providing health, home, auto, and travel insurance. RBC also holds a wide Caribbean retail banking network. In Europe, South America, the Middle East, the Asia-Pacific region, and Australia, Royal Bank grants private banking services and offer business customers a wide- range of services. In addition, corporate and investment banking, trade finance, correspondent banking, and treasury services are also part of the services that RBC can cater.

RBC Insurance, through its operating entities, including RBC Life Insurance Company, provides life, health, travel, home auto and reinsurance products as well as creditor insurance services to over five million North American clients. As a top provider of individual living benefits and life insurance products in Canada, RBC Insurance put forward an all-inclusive portfolio of individual and group life and health insurance solutions, together with term and universal life insurance, group benefits, disability, critical illness, and long term care insurance and segregated funds. These products are dispersed through more than 17,000 independent brokers associated with producer groups, financial planning firms and stock brokerage firms, as well as through direct sales and a network of career sales representatives. We are the prime Canadian bank-owned insurance organization and one of the fastest growing insurance companies in the country.

RBC Insurance leads in the Canadian creditor, individual living benefits and travel insurance markets and ranks sixth in new individual life insurance premiums in Canada. We are also ranked 35th in Standard & Poor's 2003 global top 40 reinsurance groups listing.

Product Name Product Description
RBC Term 10 Life Insurance Our RBC Term 20 Life Insurance policy is best for anybody who wishes longer-term protection. It is easy to obtain and can be utilized to protect your family in crucial years when children are dependent. For a lot of young people or families just starting out, a Term 20 life insurance policy is a reasonable option. When you take out a 20-year term life insurance policy, your premiums remain the same for those 20 years. At the end of each 20-year term your policy can be renewed automatically, with renewal premiums disclosed upfront so you can choose the right plan for you at that time.

The benefits of a Term 20 policy take in your beneficiary or estate to collect the death benefit tax-free. You may continue to renew your policy for coverage up until the policy anniversary nearest your 80th birthday. Earlier than age 71, you can exchange your policy to a permanent life insurance or universal life insurance plan without giving additional medical evidence. When you happen to be terminally ill, you can request a compassionate advance of 50% of your policy’s death benefit, to a maximum of $50,000.

There is also an Optional Coverage for extra protection. You may get this added coverage for your Term 20 life insurance policy.

• Joint First-to-Die Option: This choice lets you cover up to two family members. It offers a death benefit payable on the first death, at which point coverage terminates. Within 60 days of the first death, the survivor can transfer his or her term insurance policy to a permanent life insurance plan. This opportunity also gives an extra benefit equivalent to the base policy sum if a second insured person dies within 60 days of the first death.
• Term 10 or Term 20 Rider: You can add a single-life or joint-life rider to grant added coverage for yourself, or to cover another person, such as your spouse.
• Children\'s Term Rider: You may get term insurance coverage for your natural or legally adopted children. Any child born or legally adopted after the rider is issued is automatically covered from the age of 14 days. Coverage under this rider expires 31 days past the policy anniversary nearest the child\'s 25th birthday, unless the child converts to a permanent life insurance policy after his or her 20th birthday, but not going beyond the coverage expiry date. Premiums will not increase when additional children are insured.
• Accidental Death Benefit Rider: You may acquire coverage for accidental death, which pays an additional death benefit if you die as a direct outcome of an accident.
• Total Disability Waiver of Premium Benefit Rider: If you happen to be completely disabled for six consecutive months, we will waive premium payments and policy fees while you are considered to be fully disabled.
• Payor Death and Disability Waiver of Premium Benefit Rider: If you are not paying for your own insurance premiums and the person who pays the premiums on the policy turn out to be totally disabled for six consecutive months, we will waive premium payments and policy fees while the payor is considered to be completely disabled. We will also waive the premium starting with the first premium due after the date the payor dies.
RBC Term 20 Life Insurance Our RBC Term 20 Life Insurance policy is best for anybody who wishes longer-term protection. It is easy to obtain and can be utilized to protect your family in crucial years when children are dependent. For a lot of young people or families just starting out, a Term 20 life insurance policy is a reasonable option. When you take out a 20-year term life insurance policy, your premiums remain the same for those 20 years. At the end of each 20-year term your policy can be renewed automatically, with renewal premiums disclosed upfront so you can choose the right plan for you at that time.

The benefits of a Term 20 policy take in your beneficiary or estate to collect the death benefit tax-free. You may continue to renew your policy for coverage up until the policy anniversary nearest your 80th birthday. Earlier than age 71, you can exchange your policy to a permanent life insurance or universal life insurance plan without giving additional medical evidence. When you happen to be terminally ill, you can request a compassionate advance of 50% of your policy’s death benefit, to a maximum of $50,000.

There is also an Optional Coverage for extra protection. You may get this added coverage for your Term 20 life insurance policy.

• Joint First-to-Die Option: This choice lets you cover up to two family members. It offers a death benefit payable on the first death, at which point coverage terminates. Within 60 days of the first death, the survivor can transfer his or her term insurance policy to a permanent life insurance plan. This opportunity also gives an extra benefit equivalent to the base policy sum if a second insured person dies within 60 days of the first death.
• Term 10 or Term 20 Rider: You can add a single-life or joint-life rider to grant added coverage for yourself, or to cover another person, such as your spouse.
• Children\'s Term Rider: You may get term insurance coverage for your natural or legally adopted children. Any child born or legally adopted after the rider is issued is automatically covered from the age of 14 days. Coverage under this rider expires 31 days past the policy anniversary nearest the child\'s 25th birthday, unless the child converts to a permanent life insurance policy after his or her 20th birthday, but not going beyond the coverage expiry date. Premiums will not increase when additional children are insured.
• Accidental Death Benefit Rider: You may acquire coverage for accidental death, which pays an additional death benefit if you die as a direct outcome of an accident.
• Total Disability Waiver of Premium Benefit Rider: If you happen to be completely disabled for six consecutive months, we will waive premium payments and policy fees while you are considered to be fully disabled.
• Payor Death and Disability Waiver of Premium Benefit Rider: If you are not paying for your own insurance premiums and the person who pays the premiums on the policy turn out to be totally disabled for six consecutive months, we will waive premium payments and policy fees while the payor is considered to be completely disabled. We will also waive the premium starting with the first premium due after the date the payor dies.
RBC Term 100 Life Insurance Our RBC Term 100 Life Insurance plan offers coverage for as long as you live. Your premiums will not be changed until you reach age 100, when they cease. You can pick a coverage amount that fits your needs, and you are qualified to apply if you are between the ages of 18 and 85. You can utilize our Term 100 life insurance plan to aid you in ensuring that your surviving spouse and dependent children have access to the funds they need to sustain their quality of life when you pass away. Your policy can also assist your heirs pay off the capital gains tax on assets you have left them.

The benefits of a Term 100 policy would include getting an insurance coverage for life. You can submit an application for a coverage amount that caters your needs. Your beneficiary or estate gets the death benefit tax-free. Your premiums are guaranteed to remain unchanged as long as your policy is in effect. Should you happen to terminally ill, you can ask for a compassionate advance of 50% of your policy’s death benefit, to a maximum of $50,000.